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An experimental lithium-ion battery based on materials developed at a U.S. Department of Energy lab stores twice as much energy as the batteries used in most electric cars.

If the technology can be commercialized, it could give affordable electric cars a range of over 200 miles per charge, says Hal Zarem, CEO of Seeo, a startup that’s working on the technology. Today the cheapest electric cars, which cost around $30,000, typically have a range of less than 100 miles.

Alternatively, the improved storage capacity could be used to cut the size of battery packs in half while maintaining the current driving range, making electric vehicles considerably cheaper. A conventional battery pack with a range of 100 miles costs roughly $10,000.

Seeo, which is based in Hayward, California, recently raised $17 million from investors, including Samsung Ventures. It plans to start shipping batteries to potential customers for evaluation next year.

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