NISKAYUNA, New York (Reuters) - General Electric Co plans to invest $100 million in a factory to build high-tech batteries for heavy equipment, which it believes could be a $1 billion business over the next decade.

The largest U.S. conglomerate plans to seek federal stimulus money to fund construction of the factory, near Albany, New York. Initially the factory will make batteries for GE's forthcoming hybrid railroad locomotive.

"Battery technology is a core part of the energy future globally. We want to be a part of it," said Jeff Immelt, chief executive of the world's largest maker of jet engines and electricity producing turbines.

"We've invested about $150 million so far in this innovation, this technology," Immelt said....

...The batteries GE will build in the New York plant will use a sodium-metal halide technology that the company believes is well suited to storing large amounts of energy. While initially rolling out to railroad locomotives, GE officials said it could also be used in utility backup systems, emergency power supplies for telecommunications providers and eventually, in a smaller scale, hybrid or plug-in electric cars....

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May 12, 2009

By: http://www.reuters.com