January 14, 2019, the US Department of Defense (DoD)
released the Rapid Innovation Fund (RIF) Program Broad Agency Announcement (BAA) for the fiscal year. February 25, 2019, the RIF Portal opened for White Paper submissions. March 2, 2019, ET submitted 22 White Paper submissions to the RIF Portal. March 8, 2019, the RIF Portal closed and was the deadline for all White Paper submissions.
A total of 2,212 White Papers were submitted, and there were over 90 BAA's within the 2019 RIF Program. BAA's were submitted by the Department of the Army, Department of the Air Force, Department of the Navy, and Office of the Secretary of Defense/Defense Agencies. The DoD budgeted for $250MM, yet there was over $4B proposed within the 2,212 White Paper submissions. The RIF Program is known as one of the most competitive annual programs within the DoD. A proposed total for funds in excess of sixteen times the budgeted amount and 2,212 White Paper submissions for just over 90 BAA's solidifies this claim. In addition to the 2019 RIF Program, ET also submitted numerous White Papers to various solicitations within the DoD throughout Q1 and Q2 of 2019.
ET is currently in process of preparing for the launch of ET-Power India. We are thankful to our Strategic Partners both in Industry and within the Government of India. Without whom, our market entry into India would not be as fluid, thank you!
On February 28, 2019, the Government of India issued a Press Release entitled, "Cabinet Approves Scheme for FAME India Phase II". FAME is an acronym for, "Faster Adoption and Manufacturing of Electric Vehicles". Union Cabinet Chair, Prime Minister Shri Narendra Modi, approved the scheme for Phase II to further promote Electric Mobility in the country. Effective as of April 1, 2019, there will be an investment of Rs 10,000 crores (approximately $1.4B USD) from the Indian Government. FAME Phase II is a follow up to FAME India I which was launched April 1, 2015, for a total investment amount of Rs 895 crores (approximately $125MM USD). The Rs 10,000 crores will be invested over a period of three years.
According to the Union Cabinet's Press Release, "The main objective of the scheme is to encourage Faster adoption of Electric and hybrid vehicle by way of offering upfront Incentive on purchase of Electric vehicles and also by way of establishing a necessary charging Infrastructure for electric vehicles. The scheme will help in addressing the issue of environmental pollution and fuel security. The scheme proposes for establishment of charging infrastructure, whereby about 2,700 charging stations will be established in metros, other million plus cities, smart cities and cities of Hilly states across the country so that there will be availability of at least one charging station in a grid of 3 km x 3 km. Establishment of Charging stations are also proposed on major highways connecting major city clusters. On such highways, charging stations will be established on both sides of the road at an interval of about 25 km each."
With nearly two decades of R&D invested and well over two years of rigorous testing in a high-fidelity laboratory environment, ET is proud to announce the launch of its Intelligent Liquid Fuel Cell.