The founders of Fermi Energy have an idea which, if it pans out, could revolutionize the auto industry.
That industry is already seeing the rise of electric vehicles, but electric vehicles are hampered by one thing: Their batteries require nickel and cobalt, two elements that must be imported. Fermi founders Feng Lin and Zhengrui Xu believe they can use other elements (they won’t say which ones for proprietary reasons) to achieve the same energy output, reduce the charging time – and cut costs by 20%.
Image: Here’s the lab space under construction at the Virginia Tech Corporate Research Center. Photo by Dwayne Yancey.
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