Nickel-Zinc Battery Maker Looks to China for Ramp Up
SAN DIEGO, CA -- (Market Wire - Feb 02, 2005) -- PowerGenix, Inc., a leading developer of high-rate discharge, rechargeable nickel-zinc (NiZn) batteries, announced today that in order to prepare for its ramp-up phase, it has entered into an agreement with Shenzhen Grepow Battery Co., Ltd. of China for high volume production and Asian distribution of its innovative NiZn batteries.
Shenzhen Grepow Battery Company, located in Shenzhen City, is a leading producer of nickel-metal hydride (NiMH) batteries. With a production capacity of 45 million cells per year, 900 employees and a fully staffed R&D team, the ISO 9001-certified manufacturer is well suited to transition PowerGenix's rechargeable NiZn batteries from production in San Diego into high volume production for worldwide distribution.
The partnership represents the culmination of an extensive selection process by PowerGenix for a manufacturing partner that possessed the right balance of technical innovation, reputation for quality products, and the capability of quickly scaling to the anticipated increase in demand.
"After an exhaustive and thorough search for just the right manufacturing company that not only had the necessary production capacity and advanced battery production equipment, but also possessed the right technical expertise, we chose Grepow. They represented everything we'd been looking for in a manufacturing partner," commented Chi Yau, PowerGenix's vice president of operations.
"From what we learned after several of the world's largest and most demanding consumers of nickel-cadmium batteries sampled our new nickel-zinc batteries, it became very clear to us that we needed to select a manufacturing partner that could respond to the unique demands of the cordless power tool market. This made the selection of our manufacturing partner a very critical decision," stated PowerGenix's chief executive officer Dan Squiller. "As we ramp our production, Grepow's technical expertise, innovative manufacturing techniques, and commitment to nickel-zinc chemistry will help ensure we meet existing and evolving needs of the marketplace. The fact that they have a very satisfied blue chip customer base gives us great confidence that they will be able to satisfy our manufacturing requirements."
"PowerGenix's innovative nickel-zinc battery chemistry is a revolutionary step in achieving long life cycle and high specific energy. We're excited that we were chosen to produce such a groundbreaking and environmentally friendly technology," stated Fan Zheng Gang, chief executive officer of Grepow. "Because we are a leading producer of nickel-metal hydride batteries, we have the right equipment, quality processes and personnel to produce the PowerGenix cells, and we are well prepared for PowerGenix's ramp-up phase."
PowerGenix has developed and patented a next-generation NiZn rechargeable battery technology especially suited as a replacement in high power NiCd and NiMH applications. PowerGenix's initial products will target high rate discharge applications such as cordless power tools as well as military applications; with longer term plans to enter other markets including uninterruptible power supplies (UPS) and selected consumer product segments. The company's battery technology offers key strategic advantages including high performance, low cost and safety -- all without the toxic environmental impact associated with today's commonly used rechargeable nickel-cadmium batteries.
With this strategic agreement now in place, PowerGenix has greatly enhanced its production capabilities and is well positioned to meet the high volume demand of the rechargeable battery industry. For more information on PowerGenix's innovative battery technology, visit www.powergenix.com or call 858.547.7300.
Founded in 2000 and located in San Diego, Calif., PowerGenix has developed and patented a high-energy density, high-cycle life and low-cost NiZn battery that is specifically designed to utilize existing NiCd manufacturing processes, techniques and equipment, thereby significantly reducing time-to-market and eliminating costly equipment design steps. With its patented rechargeable NiZn battery technology, PowerGenix is pursuing applications to replace existing NiCd and NiMH batteries in the multi-billion dollar rechargeable battery market.
About Shenzhen Grepow Battery Co., Ltd.:
Shenzhen Grepow Battery Co., Ltd. (http://grepow.ys-soft.com), located in Shenzhen City, China, specializes in the development, manufacture and distribution of NiMH batteries. A developer of advanced cell designs and manufacturing techniques, Shenzhen Grepow Battery has the capability to mass produce individual cells and battery packs. In addition to supplying products which are recognized by domestic and overseas customers as batteries with high capacity, long cycle life, low internal resistance, safety and reliability, the company also provides customized design and manufacturing services. Batteries produced by Shenzhen Grepow Battery are used in communications equipment, power tools, electric toys, electric bicycles, audio and video appliances, emergency systems, notebook computers, and medical devices.
Vice President, Business Development
858.547.7300 ext. 103
Jennings & Associates
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