The batteries, lithium iron phosphate (LifePo4), are similar to laptop batteries providing large amounts of power and short recharge times.

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Nanophosphate EXT is based on A123's proprietary lithium iron phosphate battery technology, which offers high power, long cycle life, increased usable energy and excellent safety as compared to other available battery technologies.

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The company owns and operates a fleet of 29 dry bulk carriers that transport a wide range of commodities, including coal, iron ore, grains, bauxite, phosphate, fertilizers and steel products.

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