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The Associated Press July 12, 2010, 5:30PM ET

Fayetteville, Ark., firm gets $3.9M federal grant

The federal Energy Department says a Fayetteville company has been awarded a $3.9 million stimulus grant for research into developing a high-capacity, high-speed charger for hybrid-car electric batteries.

The grant for Arkansas Power Electronics International Inc. was announced Monday by Energy Secretary Steven Chu, along with U.S. Sens. Mark Pryor and Blanche Lincoln, both Arkansas Democrats.

"Arkansas continues to make its mark as a national leader in the production of new energy technologies," Lincoln said.

Pryor welcomed the grant as part of the nation's efforts to foster clean-energy technology.

"Awards like these help rebuild America's economy, put the U.S. back in the lead for innovation, and bring us one step closer to meeting our energy challenges," he said.

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