Tuesday, December 14, 2010

Firm Plans Battery Manufacturing Facility In Lubbock

Cymbet Corporation, a developer of solid state energy storage products based in Minnesota, said today that it is opening up a new battery manufacturing facility in Lubbock, Texas. According to Cymbet, it is in an agreement with X-FAB Texas Inc. to open up a new, high volume solid state battery production facility in the city. Cymbet said that the new facility is being financed via a partnership with the Lubbock Economic Development Alliance (LEDA), Texas Economic Development Bank, X-FAB Texas, Inc., and Cymbet Corporation. Cymbet said it expects production to start in the second quarter of 2011 in the location. Gov. Rick Perry pointed to low taxes, a reasonable and predictable regulatory environment, and skilled workforce for the attraction of the state to Cymbet and other companies.