Systematic Power Manufacturing d/b/a IOXUS – Product Line Expansion
The Town of Oneonta has been awarded $750,000 in NYS CDBG Economic Development funds to assist IOXUS with manufacturing equipment, equipment testing, supplies and materials needed to expand their product line in the Town of Oneonta, NY. The grant application was written and submitted to NYS CDBG by Otsego Now.
IOXUS currently produces ultracapacitors and is expanding into lithium battery production at its Oneonta facility. The new owner of the company has developed a new lithium-ion battery at their existing facility in Tennessee and is looking to manufacture the same component in Oneonta.
The estimated total project cost is $2,020,000 and the project is expected to create 30 full-time equivalent jobs and retain 21 full-time jobs over the next two years.
Otsego Now will be administering the CDBG project on behalf of the Town of Oneonta.
IOXUS currently produces ultracapacitors and is expanding into lithium battery production at its Oneonta facility. The new owner of the company has developed a new lithium-ion battery at their existing facility in Tennessee and is looking to manufacture the same component in Oneonta.
The estimated total project cost is $2,020,000 and the project is expected to create 30 full-time equivalent jobs and retain 21 full-time jobs over the next two years.
Otsego Now will be administering the CDBG project on behalf of the Town of Oneonta.