Future Market Developments
The following future
developments offer additional potential revenue sources and diversify from
the existing patented technology. Such developments will ensure the
long-term viability of AGT beyond the expiration of the present patent by
reaffirming its leadership position in the energy efficiency field.
Additional battery
chemistries, such as lithium-ion, will be tested with AGT’s ultrasonic
technology to confirm the benefits provided to lead-acid batteries.
Confirmation of this applicability will provide significant potential market
opportunities for consumer electronics, a rapidly growing battery market
that depends primarily on lithium-ion rechargeable batteries. Lithium-ion
represents the fastest growing secondary battery market, expected to reach
$1.5 billion by 2007.
The recent
commercialization of fuel cells offers another potential application of
AGT’s ultrasonic energy. Fuel cells operate similar to batteries,
generating electricity through an electrochemical conversion process. This
conversion process will be investigated in the laboratory to determine its
reaction to ultrasonic energy. With a global market of $375 million and
projected to grow to $2.6 billion by 2009, fuel cells offer a significant
potential market. With price per installed kW being a limiting factor for
widespread adoption of fuel cells, this market would be very receptive to
efficiency gains and electrochemical component cost reductions.
An additional future
development area is customized power conditioning solutions based on active
ultrasonic controls to modify battery impedance to optimize electrical
performance. Specific applications for this technology include rapid
battery chargers, back-up uninterruptible power supplies, and stand-alone
and grid-connected generating systems that use battery storage (such as wind
and solar). With strained electricity supplies worldwide, questionable grid
reliability, and increased awareness of energy supply security, it is
expected that distributed electrical systems and their resulting need for
power-conditioning equipment will increase significantly. Annual commercial
electricity expenditures of $69 billion and residential electricity
expenditures of $100 billion highlight the extent of this potential market.