Share price of
Johnson Controls, Inc.
) increased 0.06% on March 21, 2014, after the company announced
an agreement with Fraunhofer Gesellschaft. Under this deal, the
companies will develop energy efficient, cost-effective cooling
systems for vehicle batteries.
Scientists and engineers of Johnson Controls will collaborate
with the Fraunhofer's Institute for Environmental, Safety and
Energy Technology (UMSICHT) and the Institute for Manufacturing
Technology and Advanced Materials (IFAM). They will primarily
focus on developing technologies and thermal management
strategies for Lithium-ion battery packs.
The initial work will begin with the 48-Volt Micro Hybrid battery
technology. Johnson Controls stated that the Micro Hybrid battery
technology reduces fuel consumption by 15%, thus, offering
improved fuel efficiency and helping vehicles meet emissions
The technology is expected to be used in Europe first, followed
by the U.S. However, it is likely to gain global acceptance
starting 2020. The cooling system will improve energy storage
solutions provided by Johnson Controls. This will allow the
company to satisfy the rising demand for energy storage systems
along with improving the function, package and cost of these
Johnson Controls' Power Solutions also works with other partners
including Argonne National Lab, the University of Wisconsin
System, Lawrence Technological University, Ohio State University,
the Milwaukee School of Engineering, Hannover University, Aachen
University, the University of Cambridge and the University of
Science and Technology - Beijing. The partners actively cooperate
with Johnson Controls to develop enhanced battery technologies.
Johnson Controls - Zacks Rank #3 (Hold) stock - is a supplier of
automotive interiors, batteries, and other control equipment.
Other better-ranked stocks in the same industry include
STRATTEC Security Corporation
). All these stocks carry a Zacks Rank #1 (Strong Buy).
JOHNSON CONTROL (JCI): Free Stock Analysis
STRATTEC SEC CP (STRT): Free Stock Analysis
GENTHERM INC (THRM): Free Stock Analysis
VALEO SA-ADR (VLEEY): Get Free Report
To read this article on Zacks.com click here.