K2 Energy Wins $81 Million Contract To Design Energy Storage System

K2 Energy Solution has won $81 million contract from the Naval Sea Systems Command of US to design an energy storage system capable of powering “a large modular capacitor bank for the electromagnetic railgun.”

The contract was awarded in July but the first order was not placed until today. The battery system is expected to be completed by 2016, said Pentagon.

“K2 Energy Solutions is being awarded a ceiling-priced $81,400,000 firm-fixed price/cost-plus fixed-fee, basic ordering agreement for the fully self-contained battery intermediate energy store system required to power a large modular capacitor bank for the electromagnetic railgun” Pentagon added.