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Researchers have patented a mixture of carbon fiber and polymer that can store and discharge electricity, meaning that eventually the body of your car could also be running its engine.

This technology could be game changing for three reasons. First, the material could replace lithium-ion batteries as a source of energy storage for plug-in cars, consumer electronics, the electrical grid and more. With lithium supplies dwindling and getting pricey, it could be the next best option sooner than later. This feeds into the second reason, which is that -- if used for car bodies -- the material could dramatically extend the range of electric and plug-in hybrid vehicles, making them more commercially viable. And third, because the substance is so lightweight, it could be used for an endless array of consumer electronics, like mp3 players, laptops and the like.

Not much is known about the storage density of the material being developed at Imperial. But if it's high enough, lithium-ion cells could be done away with altogether. So far, researchers have been tight-lipped about what the stuff is made of, and exactly what can be done with it. But it's logical that if the structural bodies of cars or laptops alike could be made out of energy storage itself, major weight reductions could be possible. After all, the heaviest and space-consuming part of most of these products, like Tesla Motors' roadster, for instance, is the battery pack.

Electric vehicles built with the new material (assuming that it is the same weight as standard carbon fiber) would be substantially lighter than current steel unibody designs. The same strength and stiffness could be achieved at a quarter of the weight. A higher charge in a lighter frame means extended driving ranges, better gas mileage in hybrids, and higher top speeds -- three of the metrics limiting wide adoption of plug-in vehicles as is. If the material completely replaced the battery pack in the Chevy Volt, 375 pounds would be shaved off its total weight.

This sounds like an astounding breakthrough. The one hitch? Cost. As is, carbon fiber is much more expensive than steel and even aluminum. Titanium isn't always cheaper, but it's more plentiful. So when we're talking about market adoption for this new material, it's much more likely that batteries won't be entirely replaced. Rather, small panels will be made out of the substance, like the roof or trunk panels, to extend a vehicle's range by a little bit here and there. And it still won't be cheap.

Even this application of the technology could be a long way off. It will be interesting to see how fast a company spins out of the research team, and what it's strategy will be for eventual commercialization. Right now, it looks like it would be appropriate for a potential hybrid Lamborghini someday -- but not your future Toyota Prius.