Compact Power grows Troy offices to accommodate growth

Compact Power,
which helps develop the lithium-ion battery for the Chevrolet Volt,
took over an adjacent building in Troy. The new 14,000 square feet of
space will be used to accommodate the company’s expected growth.

of the lithium-ion battery, a key component in the electrification of
the automobile, is seen as a potential boon for Michigan. A couple of
major factories and research-and-development facilities have already
been announced for Metro Detroit, and more are expected.

Compact Power, a subsidiary of Korea-based LG Electronics,
is one of those companies. It started in Colorado Springs in 2001 and
moved to Troy in 2005 with five people. It has since grown to a staff
of 70 employees and a few interns. (The company hires interns as a
general practice.)

Company officials haven’t publicized the
number of jobs they expect to create, but they are anticipating
significant growth soon.

Source: Dick Pacini, spokesman for Compact Power
Writer: Jon Zemke