March 3, 2010 (FinancialWire) — Kemet Corp. (OTCBB: KEME) has signed a $31.7 million contract with the U.S. Department of Energy’s National Energy Technology Laboratory.

The contract is based on the $15.1 million grant awarded on August 5, 2009 as part of the American Recovery and Reinvestment Act Electric Drive Vehicle Battery and Component Manufacturing Initiative plus a $16.6 million matching investment by Kemet.

The company said that the contract will enable the company to produce film and aluminum electrolytic capacitors within the United States to support alternative energy products and emerging green technologies such as hybrid electric drive vehicles.

South Carolina-based Kemet makes capacitors. The company offers a line of surface-mount and through-hole capacitor technologies across tantalum, ceramic, film, aluminum, electrolytic, and paper dielectrics.

FinancialWire(tm) is committed to serving the financial community through true journalism and providing relevant resources to investors. Standards-based, independent equity research on numerous public companies is available through the Investrend Research Syndicate (http://www.investrend.com/reports) written by FIRST Research Consortium (http://www.investrend.com/FIRST) member-providers. Free annual reports and company filings for companies mentioned in the news are available through the Investrend Information Syndicate (at http://investrend.ar.wilink.com/?level=279). FinancialWire(tm), in cooperation with the Investrend Broadcast Syndicate, also provides complete, daily conference call and webcast schedules as a service to shareholders and investors via the FirstAlert(tm) Network’s “FirstAlert(tm) Daily” (http://www.financialwire.net/news-alerts/).

FinancialWire(tm) is a fully independent, proprietary news wire service. FinancialWire(tm) is not a press release service, and receives no compensation for its news, opinions or distributions. Further disclosure is at the FinancialWire(tm) website (http://www.financialwire.net/disclosures.php). Contact FinancialWire(tm) directly via inquiries@financialwire.net.

Legal Disclaimer:

EIN Presswire provides this news content "as is" without warranty of any kind. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you have any complaints or copyright issues related to this article, kindly contact the author above.