One of the few American companies that makes lithium ion batteries is based in eastern Idaho
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Do you want to know what’s happening in the eastern Idaho business scene? We’ve got you covered. Here is a rundown of this week’s business news across the valley.
BIZ BUZZ
REXBURG
Local company that makes lithium ion batteries is relocating soon
REXBURG – A Rexburg company that makes lithium ion batteries for more than 200 commercial clients worldwide will soon be moving to a new location.
Grand Teton Energy Systems at 275 Stationery Place will be relocating from its 12,000-square-foot building on the north end of Rexburg to the old Nelson-Ricks Creamery Co. at 1051 North 16th East in Sugar City. Company CEO Stewart Graham tells EastIdahoNews.com the move will happen in the next year following a renovation project.
Co-owner Mike Hammond explains the reason for the move after nearly two years of business.
“We’ve got space there to grow twice as big. It’s a little over 20,000-square-feet and we have (the ability to expand) up to 40,000-square-feet,” Hammond says.
The fact that the building is already zoned for a commercial enterprise is one reason they were drawn to it. They also like its size and the fact that it’s surrounded by an elk ranch.
Grand Teton Energy Systems makes batteries for commercial clients in the military, aerospace and medical industries. It also makes batteries for golf carts, RVs and motor sports — many of which are sold at companies in eastern Idaho.
Graham explains the company has non-disclosure agreements with many of their customers, which means they can’t reveal the names of specific companies they work with. One project he did talk about was their contract with the U.S. Navy for the Railgun Project. It’s a hypersonic ballistic missile that uses magnetic forces to launch projectiles at high velocities.
“They put these uranium heads on them … and launch them (at a speed of) mach 4,” Graham says. “They’re so fast that they can go through the hull of a ship. They need a humongous battery to power that thing.”
Japan’s Ministry of Defense partnered with the U.S. on the railgun program in 2023. It’s since been discontinued due to technical hurdles, according to National Defense Magazine, but it’s a concept that’s been in development for more than 100 years. The U.S. began researching it in the 1980s. It was scrapped by the Navy in 2021 after more than 15 years of research and a $500 million investment.
Grand Teton Energy Systems started under a different name before Graham and Hammond took it over. The China-based business was originally operating in Henderson, Nevada under the name K2 Batteries. They acquired it, rebranded and brought it to eastern Idaho.
Graham says they still buy the individual cells from China and assemble the batteries in-house at their Rexburg location.
Both men grew up in Rexburg and liked the idea of bringing a unique business to their hometown. They often partner with Brigham Young University-Idaho to provide jobs and internships for students. They also utilize a lot of resources in the engineering department on campus.
Graham is a chemical engineer and got his start in the battery industry in 2002. He started making large-scale projects for a company headquartered in Texas called Valence Technology. Together, he and his associate, Joe Turner, developed what was then a new kind of lithium ion battery.
“They knew how how to make it in the lab, but they could not figure out how to make it on a large scale and make it commercially viable,” Graham recalls. “We were hired to figure out how to do it and were the first to make this chemistry. Today, about half the lithium ion batteries in the world use this chemistry.”
Graham says lithium ion batteries have more capacity to hold energy than other batteries, and that makes them higher-quality and more reliable.
Hammond owns several businesses and has always been fascinated with technology. That’s what led him to partner with Graham on the battery business.
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Graham says more than 90% of companies in this industry are based in China. Grand Teton Energy Systems is one of the few companies in the U.S. with the expertise to make lithium ion batteries.
The company currently has 40 employees and is projected to grow to 1,200 employees in the next three to four years. The duo are excited to be operating in eastern Idaho and for future growth opportunities.
BIZ BITS
Idaho State Dental Association hires new executive director
The following is taken from a news release from the Idaho State Dental Association.
BOISE – The Idaho State Dental Association has named La Dawn Ames as the organization’s new executive director. Ames began her role on June 30 and leads strategic initiatives, member engagement and advocacy efforts on behalf of dental professionals across the state.
Ames is a veteran nonprofit and association executive with more than 28 years of leadership experience, including six years as a chief executive officer. Prior to this role, she held key positions at the College of Western Idaho and the CWI Foundation, where she managed donor engagement, operations, and some high-profile fundraising events.
Earlier in her career, she served as executive vice president of the Idaho Bankers Association and CEO of Idaho REALTORS.
Statewide member leaders have also been announced. The incoming executive committee will be Brooke Fukuoka of Jerome, Spencer Lloyd of Caldwell, Kailey Housley of Idaho Falls, Whitney Bator of Boise and Tim Penberthy of Coeur d’Alene.
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