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In 2011, then-President Barack Obama visited a General Electric or GE facility in the town of Schenectady, New York. There, he mostly discussed wind turbine exports. But he also briefly mentioned an "advanced battery" business with great promise.
Obama was referring to a molten salt stationary battery technology branded as Durathon. GE CEO Jeff Immelt believed that it will become a billion dollar business.
But Durathon fell far short. In 2015, the company closed its battery manufacturing factory in New York after investing nearly $200 million. Nearly a hundred people lost their jobs.
In this video, we are going to look at General Electric's failed molten salt battery business venture.
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