{"id":747005,"date":"2023-04-12T08:35:22","date_gmt":"2023-04-12T12:35:22","guid":{"rendered":"https:\/\/www.marketnewsdesk.com\/index.php\/luna-innovations-wins-contract-for-industrial-battery-storage-monitoring\/"},"modified":"2023-04-12T08:35:22","modified_gmt":"2023-04-12T12:35:22","slug":"luna-innovations-wins-contract-for-industrial-battery-storage-monitoring","status":"publish","type":"post","link":"https:\/\/www.marketnewsdesk.com\/index.php\/luna-innovations-wins-contract-for-industrial-battery-storage-monitoring\/","title":{"rendered":"Luna Innovations Wins Contract for Industrial Battery Storage Monitoring"},"content":{"rendered":"<p>        <!--.bwalignc { text-align: center; list-style-position: inside }\n.bwuline { text-decoration: underline }body {font:normal small Arial,Helvetica,sans-serif;color:#000;background-color:#fff;padding:24px;margin:0;} a img {border:0;} h3 {font-size:medium;color:#000;margin:0 0 1em 0; text-align:center;}-->  <\/p>\n<p class=\"bwalignc\"><b>Luna Innovations Wins Contract <\/b><b>for Industrial Battery Storage Monitoring<\/b><\/p>\n<p class=\"bwalignc\"><i>Electric Vehicle Market Drives Need for Temperature Monitoring <\/i><i>for EV Battery Production and Storage<\/i><\/p>\n<p>ROANOKE, Va.&#8211;(<a href=\"http:\/\/www.businesswire.com\">BUSINESS WIRE<\/a>)&#8211;<br \/>\nLuna Innovations (NASDAQ: LUNA), a global leader in advanced optical technology, was recently awarded a contract for industrial battery storage monitoring for a leading European manufacturer of electric vehicle batteries. Through a local integration partner, Luna will provide critical, real-time temperature monitoring during the production and storage of lithium batteries at the end-user\u2019s manufacturing facilities in France.<\/p>\n<p>\nAs commuters around the world continue to adopt more sustainable modes of transportation, the need for lithium-ion batteries for electric vehicles is rapidly increasing.<\/p>\n<p>\n\u201cThe electric vehicle market is experiencing very rapid growth,\u201d said Luna Innovations CEO, Scott Graeff, \u201cAs this market grows, so, too, does the need for safe production of batteries to power these vehicles. We are committed to advancing sustainable energy and transportation, and we are excited to work with like-minded integrators and customers who share our vision,\u201d Graeff added.<\/p>\n<p>\nThe electro-chemical composition of lithium-ion batteries leads to increased risk in their production. Internal instability of the lithium cells during the production process can cause abnormal heat accumulation inside the battery. As the temperature rises, liquid inside the battery heats and expands and can result in battery bulging and leakage. Combustion and explosion also can occur if the battery\u2019s internal lithium elements encounter air, resulting in catastrophic damage to the storage facility and the local environment.<\/p>\n<p>\nLuna Innovations will provide its fiber optic-based LIOS<sup>TM<\/sup> Distributed Temperature Sensing (DTS) technology to monitor battery temperature during its customer\u2019s production and storage process. A single fiber will be installed above the battery in each slot of the battery rack in the storage facility and is capable of monitoring thousands of storage slots simultaneously. The LIOS<sup>TM<\/sup> DTS system can quickly identify and locate abnormal changes in temperature, delivering an early warning before battery elements reach dangerous temperatures.<\/p>\n<p>\nThe contract award could lead to additional opportunities with the end user for two upcoming projects in Italy.<\/p>\n<p><b>About Luna<\/b><\/p>\n<p>\nLuna Innovations Incorporated (<a rel=\"nofollow\" href=\"https:\/\/cts.businesswire.com\/ct\/CT?id=smartlink&amp;url=http%3A%2F%2Fwww.lunainc.com&amp;esheet=53380014&amp;newsitemid=20230412005314&amp;lan=en-US&amp;anchor=www.lunainc.com&amp;index=1&amp;md5=83bae38520e7d25fcd97861f1dc35b54\">www.lunainc.com<\/a>) is a leader in optical technology, providing unique capabilities in high-performance, fiber optic-based, test products for the telecommunications industry and distributed fiber optic-based sensing for a multitude of industries. Luna\u2019s business model is designed to accelerate the process of bringing new and innovative technologies to market.<\/p>\n<p><b>Forward-Looking Statement<\/b><\/p>\n<p>\nThe statements in this release that are not historical facts constitute \u201cforward-looking statements\u201d made pursuant to the safe harbor provision of the Private Securities Litigation Reform Act of 1995 that involve risks and uncertainties. These statements include Luna\u2019s expectations regarding technological capabilities, materiality of monitoring systems for manufacturing purposes, market growth and operational efficacy related to its technology and\/or products. Management cautions the reader that these forward-looking statements are only predictions and are subject to a number of both known and unknown risks and uncertainties, and actual results, performance, and\/or achievements of Luna may differ materially from the future results, performance, and\/or achievements expressed or implied by these forward-looking statements as a result of a number of factors. These factors include, without limitation, changes in market needs and technological challenges and other risks and uncertainties set forth in Luna\u2019s periodic reports and other filings with the Securities and Exchange Commission (\u201cSEC\u201d). Such filings are available on the SEC\u2019s website at <a rel=\"nofollow\" href=\"https:\/\/cts.businesswire.com\/ct\/CT?id=smartlink&amp;url=http%3A%2F%2Fwww.sec.gov&amp;esheet=53380014&amp;newsitemid=20230412005314&amp;lan=en-US&amp;anchor=www.sec.gov&amp;index=2&amp;md5=dc75ace5cd34713dbbc91f59bbd620db\">www.sec.gov<\/a> and on Luna\u2019s website at <a rel=\"nofollow\" href=\"https:\/\/cts.businesswire.com\/ct\/CT?id=smartlink&amp;url=http%3A%2F%2Fwww.lunainc.com&amp;esheet=53380014&amp;newsitemid=20230412005314&amp;lan=en-US&amp;anchor=www.lunainc.com&amp;index=3&amp;md5=2e06a64f9a55072bf64de25d841a926a\">www.lunainc.com<\/a>. The statements made in this release are based on information available to Luna as of the date of this release and Luna undertakes no obligation to update any of the forward-looking statements after the date of this release.<\/p>\n<p><img decoding=\"async\" alt=\"\" src=\"https:\/\/cts.businesswire.com\/ct\/CT?id=bwnews&amp;sty=20230412005314r1&amp;sid=flmnd&amp;distro=nx&amp;lang=en\" style=\"width:0;height:0\" \/><span class=\"bwct31415\" \/><\/p>\n<p id=\"mmgallerylink\"><span id=\"mmgallerylink-phrase\">View source version on businesswire.com: <\/span><span id=\"mmgallerylink-link\"><a href=\"https:\/\/www.businesswire.com\/news\/home\/20230412005314\/en\/\" rel=\"nofollow\">https:\/\/www.businesswire.com\/news\/home\/20230412005314\/en\/<\/a><\/span><\/p>\n<p><b><span class=\"bwuline\">Investor Contact<\/span>:<br \/>\n<\/b><br \/>Allison Woody<br \/>\n<br \/>Phone: 540-769-8465<br \/>\n<br \/>Email: <a rel=\"nofollow\" href=\"mailto:woodya@lunainc.com\">woodya@lunainc.com<\/a><\/p>\n<p><b>KEYWORDS:<\/b> Virginia Europe United States North America France<\/p>\n<p><b>INDUSTRY KEYWORDS:<\/b> Telecommunications Software Defense Batteries Contracts EV\/Electric Vehicles Automotive Technology<\/p>\n<p><b>MEDIA:<\/b><\/p>\n<table cellpadding=\"3\" cellspacing=\"3\">\n<tr>\n<td><font face=\"Arial\" size=\"2\"><b>Logo<\/b><\/font><\/td>\n<\/tr>\n<tr>\n<td><img decoding=\"async\" src=\"https:\/\/mms.businesswire.com\/media\/20230412005314\/en\/339326\/3\/LUNA_Logo4c.jpg\" alt=\"Logo\" \/><\/td>\n<\/tr>\n<tr>\n<td><font face=\"Arial\" size=\"2\"><\/font><\/td>\n<\/tr>\n<\/table>\n","protected":false},"excerpt":{"rendered":"<p>Luna Innovations Wins Contract for Industrial Battery Storage Monitoring Electric Vehicle Market Drives Need for Temperature Monitoring for EV Battery Production and Storage ROANOKE, Va.&#8211;(BUSINESS WIRE)&#8211; Luna Innovations (NASDAQ: LUNA), a global leader in advanced optical technology, was recently awarded a contract for industrial battery storage monitoring for a leading European manufacturer of electric vehicle batteries. Through a local integration partner, Luna will provide critical, real-time temperature monitoring during the production and storage of lithium batteries at the end-user\u2019s manufacturing facilities in France. As commuters around the world continue to adopt more sustainable modes of transportation, the need for lithium-ion batteries for electric vehicles is rapidly increasing. \u201cThe electric vehicle market is experiencing very rapid growth,\u201d said Luna Innovations CEO, &hellip; <\/p>\n<p class=\"link-more\"><a href=\"https:\/\/www.marketnewsdesk.com\/index.php\/luna-innovations-wins-contract-for-industrial-battery-storage-monitoring\/\" class=\"more-link\">Continue reading<span class=\"screen-reader-text\"> &#8220;Luna Innovations Wins Contract for Industrial Battery Storage Monitoring&#8221;<\/span><\/a><\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-747005","post","type-post","status-publish","format-standard","hentry"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.4 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Luna Innovations Wins Contract for Industrial Battery Storage Monitoring - Market Newsdesk<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.marketnewsdesk.com\/index.php\/luna-innovations-wins-contract-for-industrial-battery-storage-monitoring\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Luna Innovations Wins Contract for Industrial Battery Storage Monitoring - Market Newsdesk\" \/>\n<meta property=\"og:description\" content=\"Luna Innovations Wins Contract for Industrial Battery Storage Monitoring Electric Vehicle Market Drives Need for Temperature Monitoring for EV Battery Production and Storage ROANOKE, Va.&#8211;(BUSINESS WIRE)&#8211; Luna Innovations (NASDAQ: LUNA), a global leader in advanced optical technology, was recently awarded a contract for industrial battery storage monitoring for a leading European manufacturer of electric vehicle batteries. Through a local integration partner, Luna will provide critical, real-time temperature monitoring during the production and storage of lithium batteries at the end-user\u2019s manufacturing facilities in France. As commuters around the world continue to adopt more sustainable modes of transportation, the need for lithium-ion batteries for electric vehicles is rapidly increasing. \u201cThe electric vehicle market is experiencing very rapid growth,\u201d said Luna Innovations CEO, &hellip; Continue reading &quot;Luna Innovations Wins Contract for Industrial Battery Storage Monitoring&quot;\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.marketnewsdesk.com\/index.php\/luna-innovations-wins-contract-for-industrial-battery-storage-monitoring\/\" \/>\n<meta property=\"og:site_name\" content=\"Market Newsdesk\" \/>\n<meta property=\"article:published_time\" content=\"2023-04-12T12:35:22+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/cts.businesswire.com\/ct\/CT?id=bwnews&amp;sty=20230412005314r1&amp;sid=flmnd&amp;distro=nx&amp;lang=en\" \/>\n<meta name=\"author\" content=\"Newsdesk\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Newsdesk\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"3 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/luna-innovations-wins-contract-for-industrial-battery-storage-monitoring\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/luna-innovations-wins-contract-for-industrial-battery-storage-monitoring\\\/\"},\"author\":{\"name\":\"Newsdesk\",\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/#\\\/schema\\\/person\\\/482f27a394d4fda80ecb5499e519d979\"},\"headline\":\"Luna Innovations Wins Contract for Industrial Battery Storage Monitoring\",\"datePublished\":\"2023-04-12T12:35:22+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/luna-innovations-wins-contract-for-industrial-battery-storage-monitoring\\\/\"},\"wordCount\":670,\"image\":{\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/luna-innovations-wins-contract-for-industrial-battery-storage-monitoring\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/cts.businesswire.com\\\/ct\\\/CT?id=bwnews&amp;sty=20230412005314r1&amp;sid=flmnd&amp;distro=nx&amp;lang=en\",\"inLanguage\":\"en-US\"},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/luna-innovations-wins-contract-for-industrial-battery-storage-monitoring\\\/\",\"url\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/luna-innovations-wins-contract-for-industrial-battery-storage-monitoring\\\/\",\"name\":\"Luna Innovations Wins Contract for Industrial Battery Storage Monitoring - 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As commuters around the world continue to adopt more sustainable modes of transportation, the need for lithium-ion batteries for electric vehicles is rapidly increasing. \u201cThe electric vehicle market is experiencing very rapid growth,\u201d said Luna Innovations CEO, &hellip; Continue reading \"Luna Innovations Wins Contract for Industrial Battery Storage Monitoring\"","og_url":"https:\/\/www.marketnewsdesk.com\/index.php\/luna-innovations-wins-contract-for-industrial-battery-storage-monitoring\/","og_site_name":"Market Newsdesk","article_published_time":"2023-04-12T12:35:22+00:00","og_image":[{"url":"https:\/\/cts.businesswire.com\/ct\/CT?id=bwnews&amp;sty=20230412005314r1&amp;sid=flmnd&amp;distro=nx&amp;lang=en","type":"","width":"","height":""}],"author":"Newsdesk","twitter_card":"summary_large_image","twitter_misc":{"Written by":"Newsdesk","Est. reading time":"3 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"Article","@id":"https:\/\/www.marketnewsdesk.com\/index.php\/luna-innovations-wins-contract-for-industrial-battery-storage-monitoring\/#article","isPartOf":{"@id":"https:\/\/www.marketnewsdesk.com\/index.php\/luna-innovations-wins-contract-for-industrial-battery-storage-monitoring\/"},"author":{"name":"Newsdesk","@id":"https:\/\/www.marketnewsdesk.com\/#\/schema\/person\/482f27a394d4fda80ecb5499e519d979"},"headline":"Luna Innovations Wins Contract for Industrial Battery Storage Monitoring","datePublished":"2023-04-12T12:35:22+00:00","mainEntityOfPage":{"@id":"https:\/\/www.marketnewsdesk.com\/index.php\/luna-innovations-wins-contract-for-industrial-battery-storage-monitoring\/"},"wordCount":670,"image":{"@id":"https:\/\/www.marketnewsdesk.com\/index.php\/luna-innovations-wins-contract-for-industrial-battery-storage-monitoring\/#primaryimage"},"thumbnailUrl":"https:\/\/cts.businesswire.com\/ct\/CT?id=bwnews&amp;sty=20230412005314r1&amp;sid=flmnd&amp;distro=nx&amp;lang=en","inLanguage":"en-US"},{"@type":"WebPage","@id":"https:\/\/www.marketnewsdesk.com\/index.php\/luna-innovations-wins-contract-for-industrial-battery-storage-monitoring\/","url":"https:\/\/www.marketnewsdesk.com\/index.php\/luna-innovations-wins-contract-for-industrial-battery-storage-monitoring\/","name":"Luna Innovations Wins Contract for Industrial Battery Storage Monitoring - 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