ZAP Sign Exclusive Agreement for Advanced Lithium Battery Management System
SANTA ROSA, Calif.-- Advanced transportation pioneer ZAP (BULLETIN BOARD OTC BB: ZAAP) has signed an exclusive distribution agreement for a sophisticated new lithium battery management system developed by Eco Tech A/S of Denmark to be incorporated into the XEBRA line of electric cars and trucks.
The new battery management system is part of ZAP's ongoing research and development for a new generation of electric vehicles incorporating advanced technologies. ZAP says the new battery management system utilizes innovations in computerized microprocessors and intelligent chargers required to control the charging and discharging of large format lithium-ion batteries. The new system helps maximize the efficiency and performance of lithium-ion batteries, delivering as much as five times the range over the lead-acid batteries currently used in a wide variety of electric vehicles.
"A key element of this new technology is the development of sophisticated software supported by the Danish Government that allows the use of lithium batteries for electric cars to be practical and safe," said Ivan Loncarevic of Eco-Tech. Eco Tech's battery management technology has been supported by the Danish Institute of Technology and funds from the Danish Ministry of Science.
ZAP has received the first electric vehicle design incorporating this new technology and will issue updates on the results of testing. The northern California company currently markets a variety of electric vehicles, including electric cars, trucks, off-road vehicles and other forms of personal electric transportation. The overall mission of ZAP is to establish a brand and portal for a wide range of advanced technology vehicles, including electric and hybrid vehicle designs. ZAP has done extensive research into advanced battery technologies and recently launched sales and marketing of rechargeable lithium-battery systems for mobile electronics.
"This is the very first cost effective lithium battery system we have received for use in a vehicle," said ZAP Chairman Gary Starr. "This technology from Eco-Tech has the potential to enhance the acceptance of electric technologies in the auto industry and we look forward to incorporating these advances into our existing and future vehicles."
ZAP has been a leader in advanced transportation technologies since 1994, delivering more than 90,000 fuel-efficient vehicles to consumers in more than 75 countries. A publicly owned company, ZAP is at the forefront of transportation with new technologies including energy efficient gas systems, hydrogen, electric, fuel cell, alcohol, hybrid and other innovative power systems. ZAP is also offering Portable Energy technology that manages power for mobile electronic devices. For purchasing, dealer and investor information, call 707-525-8658 or visit http://www.zapworld.com/ .
Forward-looking statements in this release are made pursuant to the "safe
harbor" provisions of the Private Securities Litigation Reform Act of 1995.
Investors are cautioned that such forward-looking statements involve risks and
uncertainties, including, without limitation, continued acceptance of the
Company's products, increased levels of competition for the Company, new
products and technological changes, the Company's dependence upon third-party
suppliers, intellectual property rights, and other risks detailed from time to
time in the Company's periodic reports filed with the Securities and Exchange
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