NEW YORK Xtreme Power Inc. has cut the majority of staff at its Grove, Okla., lead-acid battery manufacturing plant and is seeking investors for the facility as the company rethinks its approach to the energy storage market.
The company continues to run the facility with a skeleton crew, having released the majority of employees at the plant over the course of this past week, an Xtreme Power spokesman told AMM.
"This action was necessitated by a decline in demand for storage applications utilizing the advanced lead-acid battery, which we manufacture in Grove. Customer demand for energy storage continues to migrate to applications that are best served with other battery chemistries," the company said.
"While a painful moment for our company, its a necessary transition to stay at the forefront of our industry, serving the dynamic energy storage and power management needs in an ever-changing market," it said.
"There has been interest from potential buyers" for the plant, the spokesman added.
The Kyle, Texas-based company will provide severance and on-site employment counseling to those affected by the move, it said.
Lisa Friden, president of the Grove Area Chamber of Commerce, said that the facility employed up to 108 people as of 2011.