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UT Dallas to lead $30 million battery initiative

As announced by the Department of Defense today, The University of Texas at Dallas will receive $30 million over three years from the DOD to develop and…

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As announced by the Department of Defense today, The University of Texas at Dallas will receive $30 million over three years from the DOD to develop and commercialize new battery technologies and manufacturing processes, enhance the domestic availability of critical raw materials, and train high-quality workers for jobs in an expanding battery energy storage workforce.

Credit: The University of Texas at Dallas

As announced by the Department of Defense today, The University of Texas at Dallas will receive $30 million over three years from the DOD to develop and commercialize new battery technologies and manufacturing processes, enhance the domestic availability of critical raw materials, and train high-quality workers for jobs in an expanding battery energy storage workforce.

The award, which creates a prototype Energy Storage Systems Campus, is the largest allocation from a federal agency that the University has received to date. The Energy Storage Systems Campus will leverage and stimulate over $200 million in private capital.

Dr. Kyeongjae Cho, professor of materials science and engineering in the Erik Jonsson School of Engineering and Computer Science and co-principal investigator, will lead the project as the director of the Batteries and Energy to Advance Commercialization and National Security (BEACONS) center.

Key partners include LEAP Manufacturing, a consortium of energy storage companies; AUI (Associated Universities Inc.); the University of California, Berkeley; and the University of Chicago. The agreement provides funding from the DOD’s Manufacturing Capability Expansion and Investment Prioritization Directorate.

“This initiative is a tremendous opportunity to showcase UTD’s mission of research, service and teaching in the context of accelerating workforce development and next-generation solutions that are critical to our nation’s economy and defense readiness,” said Dr. Richard C. Benson, UT Dallas president and the Eugene McDermott Distinguished University Chair of Leadership. “The expertise of our faculty researchers, the excellence of our academic programs in engineering and science, and our demonstrated ability to leverage partnerships with industry put UTD in a unique position to lead this national effort to drive innovation in battery technology and manufacturing.”

The BEACONS center will focus on four main goals:

  • Optimizing existing battery systems, including integrating robotics and automation into manufacturing.
  • Fostering the development of new battery chemistries that reduce the use of scarce raw materials.
  • Identifying and tracking supply chain challenges for critical minerals, such as lithium, needed in energy storage systems.
  • Developing the workforce needed for energy storage system development and manufacturing.

In addition, the initiative will provide access to facilities to help entrepreneurs design, develop and demonstrate novel energy storage systems.

Response to National Priorities

The National Blueprint for Lithium Batteries 2021-2030, published in 2021 by the Federal Consortium for Advanced Batteries, outlines several goals, including maintaining and advancing U.S. battery technology leadership by strongly supporting scientific research; science, technology, engineering and math education; and workforce development.

The agreement with the DOD is an outcome of more than a year of concerted efforts by UTD leaders and LEAP Manufacturing co-directors Dr. Thomas Campbell and John Stibal to respond to the federal agency’s request for proposals.

BEACONS will include multiple UTD researchers in the Jonsson School and the School of Natural Sciences and Mathematics who work on energy storage technology, including experts in computer modeling, artificial intelligence, chemistry, prototyping and commercialization. Their work will center on developing safer, longer-lasting and more efficient next-generation battery technology, including alternatives to traditional lithium-ion cells. Lithium-ion batteries, which power everything from consumer electronics to electric vehicles, have disadvantages: They are sensitive to high temperatures and thermal runaway reactions, which can cause fires; they are difficult to recycle; and they require the expensive mining and processing of rare raw materials, such as lithium, nickel and cobalt.

UTD researchers are investigating current battery system optimization as well as next-generation batteries with alternative materials and designs, such as solid-state batteries, which use solid electrolytes instead of organic liquids or polymers, and aqueous zinc-ion batteries, which are made from raw materials that are more abundant.

New Facility

The UTD-led initiative will include construction of a research facility within a 1,200-acre area of the Richardson Innovation Quarter. The facility will include space for developing and manufacturing next-generation batteries, as well as energy storage solutions specifically tailored to defense applications. For example, defense systems operate at extremely cold or hot temperatures, encounter high shock and vibration, and may be stored for long periods then needed quickly for immediate use. Defense battery systems also are sometimes operated in environments where safety demands exceed current commercial requirements.

While the U.S. has been a leader in battery research and technology development, battery manufacturing and supplies of critical raw materials have traditionally been located outside of the country. The DOD initiative reflects efforts to bring advanced manufacturing and supply chains to the U.S., Cho said.

“We identified a unique area that satisfies the Department of Defense’s needs for battery technology,” he said. “This investment by the DOD will facilitate collaboration with our industry partners to help ensure reliable, domestic manufacture of lithium-ion cells, as well as the battery packs that support defense systems and advanced commercial systems.”

Workforce Development

UTD also will partner with community colleges in North Texas to train future employees with a range of expertise. A 2020 report from the U.S. Department of Energy’s National Renewable Energy Laboratory projects that the battery energy storage industry will need a minimum of 130,000 additional workers in the U.S. by 2030; at least 12,000 of those workers will be needed in Texas. Earlier this year, Tesla broke ground on a Texas lithium refinery to produce the battery metal for electric vehicles.

“Renewable energy is a rapidly expanding area, and Texas is leading the country in the expansion of energy storage capacity,” Cho said. “We need not only PhD-level experts but also technicians who know how to safely handle batteries.”

The initiative is a prototype for collaboration, said Dr. Joseph Pancrazio, vice president for research and innovation at UT Dallas and co-principal investigator on the project.  

“UTD and our partners will ensure that laboratory research and creative ideas from small businesses translate quickly towards commercialization,” Pancrazio said. “As a national resource, the collaborative space we’re creating will streamline the path of innovation in energy storage and battery technology, from prototyping and testing to manufacturing. Coupling technological advancement with workforce development ultimately will catalyze economic growth while bolstering national security.”   

UT Dallas faculty members involved in the Department of Defense-funded battery research project include:

Dr. Kyeongjae Cho, professor of materials science and engineering and co-principal investigator

Dr. Shuang Cui, assistant professor of mechanical engineering

Dr. Joseph Pancrazio, vice president for research and innovation, professor of bioengineering, and co-principal investigator

Dr. Mihaela Stefan, department head of chemistry and biochemistry, and Eugene McDermott Professor

Dr. Laisuo Su, assistant professor of materials science and engineering

Dr. Cormac Toher, assistant professor of materials science and engineering

Dr. Guoping Xiong, assistant professor of mechanical engineering

Dr. Yue Zhou, assistant professor of mechanical engineering


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I Say We’re Setting Up For A Major Bottom

It’s almost impossible to call market tops and market bottoms using basic technical analysis tools like price and volume. Don’t get me wrong, that combination…

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It's almost impossible to call market tops and market bottoms using basic technical analysis tools like price and volume. Don't get me wrong, that combination is my favorite during trend-following periods. But trying to spot bearish reversals is difficult when price action keeps riding higher and higher. The same is true in trying to spot bullish reversals when prices keep moving lower and lower. Maybe that seems unconventional to hard-core technicians, but I believe it's the reality. Too many folks say "when this line crosses that line, then this will happen". To me, that's following technical analysis and wearing blinders. Just my two cents.

I use technical price action to confirm what other signals are suggesting. We get plenty of signals on a regular basis - some short-term in nature, others long-term - if we're only willing to listen. While I've been bullish since June 2022, I do recognize short-term warning signals that tell us that risks of remaining long have increased substantially. In mid-July, I turned very cautious short-term and discussed those signals in a "Your Daily 5" episode that aired on July 19th. Let me pull up an S&P 500 chart, so you can see where U.S. equities stood when I fired this warning shot:

There were several reasons for the stock market bulls to hit quicksand. Tesla (TSLA), a Wall Street darling and a favorite stock of mine, suggested a possible 20% drop. That call aired the day of TSLA's top and TSLA fell closer to 30% in less than one month. These signals work and help us to manage risk! As I always say, they do NOT guarantee future price action, but they make us aware of increasing risk and that's how you invest more successfully. Since that July top, I've encouraged our EB members to tread very cautiously, whatever that means to each individual member. To some, it's being in cash. To others, it might simply mean to avoid leverage on the long side. But this cautious period is coming to an end.

If you want to see what was discussed on July 19th and why I felt the stock market was in short-term trouble, check out the Your Daily 5 recording on YouTube!

I absolutely LOVE when my signals take the opposite view of the masses. And now that everyone believes we're resuming the prior bear market, my signals are saying HOGWASH. Could we continue to proceed lower? Sure. There are never any guarantees with the stock market. But I see signs that suggest shorting is a VERY HIGH RISK strategy, with those risks growing every day. I'm discussing one major reason why in our FREE EB Digest newsletter that will be published early Monday morning, before the stock market opens. If you're not already an EB Digest subscriber, it's 100% free with no credit card required. Simply CLICK HERE and enter your name and email address. I'll discuss Reason #1 to turn bullish tomorrow morning. And I'll also focus on other reasons to be thinking bullish thoughts when I publish the EB Digest on Wednesday and Friday. Don't wait until it's too late. Check them out NOW!

Happy trading!

Tom

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Highlights from My Week’s Reading

Natalię Dowzicky, “How Florida Beat California to High-Speed Rail,” Reason, September 20, 2023.
Excerpt:
Not only is Brightline the first privately…

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Natalię Dowzicky, “How Florida Beat California to High-Speed Rail,” Reason, September 20, 2023.

Excerpt:

Not only is Brightline the first privately funded intercity rail line in the U.S., but it’s also the fastest train in the country outside of the northeast corridor. Topping out at 125 mph in Florida, it will travel from Miami to Orlando in about three hours. For comparison, the Amtrak in the area takes about six and a half hours to complete that same trip.

Mike Reininger, CEO of Brightline, told Reason that passenger rail makes commercial sense under specific conditions, such as the case in Florida, where it connects two populous, tourist-friendly cities that are about 250 miles apart. At that distance, Reininger says, “It is too far to drive and too short to fly. You can approximate the time of flying significantly, improve the time of driving, and you can offer it at a price point that makes it an economic proposition.”

Not surprisingly, though, Brightline has become a subsidy sucker.

Romina Boccia, “Social Security Benefits are Growing Too Fast,” Cato at Liberty, September 21, 2023.

Excerpt:

When a Social Security‐​eligible worker’s benefits are first calculated, this worker’s past wages are indexed to bring them to the same level as today’s earnings. This is called wage indexing and is based on the growth in average wages in the economy. When the Social Security Administration (SSA) first indexes a worker’s lifetime covered earnings, it does so using the SSA’s Average Wage Index (AWI). The AWI includes all wages that are subject to federal income tax, including wages in excess of the taxable Social Security maximum payroll tax threshold.

Wage indexing gives retirees a benefit amount that reflects the increase in the standard of living over their working careers—even if they didn’t earn commensurate wages. It’s like giving workers retroactive credit for improvements in the economy, including for wage improvements among the highest income earners.

Definitely worth reading carefully.

Christopher Wilcox, “Truck This: Why I’m Leaving the Long-Haul Industry,” American Institute for Economic Research, September 21, 2023.

Excerpt:

More recently, environmental regulations requiring manufacturers to reduce emissions gave us the diesel particulate filter (DPF), an exhaust treatment system that replaces a standard muffler. While there is no current federal mandate requiring a DPF, the filters are required by the 2008 California Statewide Truck and Bus Rule, which has incentivized many nationwide fleets to adopt them. The problem with DPFs is the filter system clogs. A lot.

When DPFs go down, trucks roll to a stop. Truckers report having to have a DPF serviced as often as every 5,000 miles, which means lots of lost productivity and stranded cargo. I’ve had four breakdowns over the past two years, and three were due to my DPF. A tow truck driver I spoke to on one of those occasions told me half of his business comes from malfunctioning DPFs. Repairs are a specialized affair, and replacements can cost up to $2,000. When my truck isn’t moving, I’m not earning. And these regulators have required that my truck stand still far too often.

Of course California is in the forefront of regulation.

Fiona Harrigan, “Biden Administration Announces New Measures to Get Migrants to Work,” Reason, September 21 2023.

Excerpt:

Yesterday, the Biden administration announced new actions to help get recent immigrants to work, including offering almost half a million Venezuelans a status that will let them live and work in the U.S. legally for the next 18 months. The new measures come at a critical time, as labor shortages persist and cities struggle to provide for newcomers.

Certain Venezuelan migrants are eligible for temporary protected status (TPS), a designation offered to migrants who can’t safely return to their home countries due to armed conflict, environmental disaster, or another temporary safety hazard. Venezuela was first designated for TPS in 2021 due to a severe political and economic crisis perpetuated by Nicolás Maduro’s regime. Under that designation, Venezuelans who came to the U.S. before March 2021 qualified for protection; now, the status will apply to Venezuelans who arrived before the end of July this year. There are currently 16 countries designated for TPS.

If I understand the program correctly, it sounds good: let them work instead of forcing taxpayers to subsidize their living expenses. It’s win-win-win for immigrants, employers and consumers, and taxpayers.

James Herndon, “Keep the Washington Consensus,” Law & Liberty, September 21, 2023.

Excerpt:

Despite those deliberate omissions, synergies still allowed the Consensus to exceed the sum of its parts. Opening up foreign direct investment eased privatization. Privatization enabled balanced budgets. Balanced budgets limited inflation, which encouraged foreign direct investment. The common denominators were respect and restraint: leaders had to trust that firms and citizens knew better than the bureaucrats how best to allocate their own labor and resources. That’s why the Consensus’ first beneficiary was always likely to be the poor. After all, funding for primary education and basic healthcare does far more to reduce poverty than subsidies for diesel fuel and national airlines.

In short, Williamson promoted policies that enabled sustainable growth in developing countries with respect for their autonomy and an emphasis on raising prospects for the least fortunate. The Left never forgave him.

It’s the nicest treatment of the Washington Consensus that I’ve read. Lots of good nuggets.

 

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Miss Universe denies link with recently unveiled coin project

The Miss Universe Organization said that there is no Miss Universe cryptocurrency or blockchain offering involved with the Miss Universe or Miss Universe…

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The Miss Universe Organization said that there is no Miss Universe cryptocurrency or blockchain offering involved with the Miss Universe or Miss Universe Philippines.

The Miss Universe Organization has denied any association with the Miss Universe Coin project announced at the Philippine Blockchain Week (PBW) event held earlier this month. PBW said that they are in contact with all involved parties and will post an update soon.

Earlier this month, a project called Miss Universe Coin was announced at PBW. Donald Lim, the founder of the organization managing the PBW, said during the event that the PBW will “launch the Miss Universe Coin.” However, weeks after the announcement, the official organization behind Miss Universe has denied any association with the coin project and called it a fraud. 

Official announcement published on the Miss Universe Facebook page. Source: Facebook

On Sept. 22, the Miss Universe official Facebook page announced that the Miss Universe Organization and JKN Global Group, the company behind the pageant, are not associated with the coin project that was unveiled at the PBW event. According to the organization, it will be pursuing “all legal options with regards to this infringement.” 

“There is currently no Miss Universe cryptocurrency or blockchain offering, and these products are in no way involved with the voting or selection process for Miss Universe or the Miss Universe Philippines pageants,” they wrote.

Related: JPEX hikes withdrawal fee to almost $1K after Hong Kong watchdog warning

In a statement sent to Cointelegraph, a representative from the Miss Universe Organization claimed that the Miss Universe Coin is a "fraud," and they expect it to be further announced in other events across the globe. “We suspect that people may be planning to mention this at upcoming blockchain conferences in Dubai and Singapore. If you see it there, please do not cover, it's a fraud,” they said.

In a statement on X (formerly Twitter), PBW said that they are currently in contact with all of the parties involved and will announce an update as soon as possible. Cointelegraph reached out to the Philippine Blockchain Week but did not get an immediate response.

Magazine: Chinese billionaire’s $1B fraud charges, Kwon’s $11M bet, Zhu Su and Islam: Asia Express

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