November 30. 2012 1:00PM - Last modified: November 30. 2012 1:59PM

Officials plug battery research center as 'game changer'

On Friday the mayor, the governor, at least three members of Congress and U.S. Energy Secretary Steven Chu formally announced that Argonne National Laboratory in Lemont, Ill., a southwest Chicago suburb, will house a new $155-million battery research center.

Local officials hope the center will power the Chicago-area economy the way research at the institutions like Stanford University did for Silicon Valley.

The core news is that the feds selected Argonne to receive as much as $120 million in U.S. funds over the next five years to spark nationwide research efforts to leapfrog competitors in Japan and Korea and boost energy storage capacity fivefold, at one-fifth of the cost within that five years.

Read more in Crain's Chicago Business.