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ELECTROSOURCE RECEIVES ADDITIONAL FUNDING FROM EPRI FOR ADVANCED BATTERY WORK

 AUSTIN, Jan. 11 /PRNewswire/ -- Electrosource, Inc. (NASDAQ: ELSI), a developer of advanced battery technologies, has received additional funding from the Electric Power Research Institute (EPRI) for continued development and commercialization of the company's Horizon(R) battery technology for use in electric vehicles and other applications.
 The funding is the result of an amendment to a business alliance signed Sept. 17, 1993, by Electrosource and EPRI. With the amendment, EPRI commits $3 million to Electrosource for 1993 operations retroactively and plans to continue funding in the amount of $2 million for 1994. EPRI also anticipates that it will commit an additional $1.6 million to Electrosource for 1994 but is not contractually obligated to do so. The funding will allow the company to operate at current levels through December 1994.
 Electrosource also said that construction is close to completion on an 88,000 square-foot pilot production facility in San Marcos, Texas, which will produce Horizon batteries. The facility, operated by Horizon Battery Technologies, Inc., a company jointly owned by BDM Technologies, Inc., of McLean, Va., and Electrosource, will produce advanced batteries for testing in electric vehicles and also develop and produce turnkey battery manufacturing facilities for future joint-venture partners worldwide.
 EPRI, founded in 1972, manages technical research and development programs for the United States electric utility industry to improve power production, distribution and use. Some 700 utilities are members of the Institute. Electrosource has had a research and development contract with EPRI since July 1992.
 Electrosource, Inc., is an Austin-based company whose principal business is the development and commercialization of advanced lead acid batteries.
 -0- 1/11/94
 /CONTACT: Audrey T. Dearing of Electrosource, 512-445-6606/
 (ELSI)


CO: Electrosource, Inc. ST: Texas IN: SU:

MP -- NY017 -- 0874 01/11/94 09:28 EST
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Publication:PR Newswire
Date:Jan 11, 1994
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