Home > Press > ZAP, Advanced Battery Technologies, Inc. Join Forces to Commercialize Nanotech Batteries for Electric Cars
|Steve Schneider (left) CEO of electric car maker ZAP and John Honey of CCT Power Head hold production cells of a new battery that achieves up to five times the power of today's lead-acid batteries using advanced nanotechnology from Harbin, China manufacturer Advanced Battery Technologies, Inc. (PRNewsFoto/ZAP) |
Joint Office Opens in Beijing to Focus on Nanotechnology for Advanced Electric Car Batteries
ZAP, Advanced Battery Technologies, Inc. Join Forces to Commercialize Nanotech Batteries for Electric Cars
BEIJING, China | Posted on August 2nd, 2007
Advanced nanotech batteries are becoming a driving force in making electric cars that go farther and faster between charges, up to five times farther than today's conventional batteries, and China may play a role in bringing this new technology to market.
Electric car pioneer ZAP (OTC Bulletin Board: ZAAP) and lithium-polymer and nanotech battery developer Advanced Battery Technologies, Inc. (OTC Bulletin Board: ABAT) today announced the opening of a joint development office in Beijing to expand their research, manufacturing and marketing of advanced batteries for electric cars using the latest in nanotechnology.
ZAP recently completed a purchase agreement to acquire $5.168 Million in lithium-polymer and nanotech batteries from Advance Battery Technologies for use in ZAP's line of XEBRA electric cars and trucks as well as other vehicles and battery systems. ZAP CEO Steve Schneider concluded the agreement recently after meeting with Advanced Battery Technologies Chairman Mr. Zhigou Fu and touring his facilities in Beijing and Harbin.
"After spending a great deal of time with Mr. Fu, we believe he is a
true visionary with the desire to improve the environment through
technology," said Schneider. "We are looking forward to testing these new
batteries in our ZAP cars, trucks, motorbikes and other vehicles."
Advanced Battery Technologies is incorporating the latest in
nanotechnology to create a new generation of lithium-polymer batteries with
a higher energy density while improving the performance, life expectancy
and safety. In a recent communication regarding ZAP's annual shareholder
meeting, Mr. Fu praised ZAP's progress.
"These are indeed impressive and noteworthy results for ZAP's work,"
said Fu. "The Company is strong and growing in a world market with strong
competition and capable competitors. The ability to deliver these products
and achieve these results is a credit to your leadership, ZAP's management
and the dedication and hard work of your employees."
Lithium ion batteries have been a leading technology for electric cars
for years. While the technology has been proven in smaller formats, it was
found to be less stable in larger formats. Because they are inert,
nanoparticles do not sulfate in reaction with the chemistry of
lithium-polymer batteries, unlike conventional graphite electrode
materials. This innovation provides a more stable battery system, allowing
larger format lithium batteries with a safer, more robust chemistry.
These smaller, nanoparticles also create a greater surface area -- up
to 100 times greater -- allowing a faster, shorter-distance transmission of
electrons in and out of the battery, adding to the energy density while
increasing the charge and discharge rate for improved performance. The more
stable battery chemistry also adds to the life expectancy of the battery,
with an estimated cycle life of more than 1000 charges, more than double
that of conventional batteries.
What this means for electric cars is three to five times greater
performance in terms of range and speed, as well as faster charge times, in
some cases as little as ten minutes.
About Advanced Battery Technologies, Inc.
Founded in September 2002, Advanced Battery Technologies (ABAT)
develops, manufactures, and distributes PLI batteries using lithium cobalt
oxide anodes to overcome many of the shortcomings associated with other
types of rechargeable batteries. ABAT develops PLI batteries for use in
electric vehicles, mine lamps, cell phones, notebook computers, and other
electronic devices. ABAT maintains R&D and manufacturing facilities in
Harbin, China. Additional information about Advanced Battery Technologies
is available at http://www.abat.com.cn .
ZAP has been a leader in advanced transportation technologies since
1994, delivering over 100,000 vehicles to consumers in more than 75
countries. At the forefront of fuel-efficient transportation with new
technologies including energy efficient gas systems, hydrogen, electric,
fuel cell, ethanol, hybrid and other innovative power systems, ZAP is
developing a high-performance crossover SUV electric car concept called
ZAP-X engineered by Lotus Engineering. The Company recently launched a new
portable energy technology that manages power for mobile electronics from
cell phones to laptops. For product, dealer, and investor information,
visit http://www.zapworld.com .
Certain statements in this news release may constitute
"forward-looking" statements within the meaning of section21E of the
Securities and Exchange Act of 1934. The Company believes that its
expectations, as expressed in these statements are based on reasonable
assumptions regarding the risks and uncertainties inherent in achieving
those expectations. These statements are not, however, guarantees of future
performance and actual results may differ materially. Some of the factors
that may affect the forward-looking statements in this news release are the
availability of licensed personnel to operate pharmacies, the availability
of suitable retail locations, and the acceptance of new technologies by the
medical profession. Other risk factors are listed in the most recent Annual
Report on Form 10-KSB, Quarterly Report on Form 10-QSB, and most recent
Registration Statement on Form SB-2 filed with the Securities and Exchange
Commission. Such forward-looking statements involve risks and
uncertainties, which may cause the actual results, performance, or
achievement expressed or implied to differ.
For more information, please click here
Advanced Battery Technologies Inc.
Room 1710, Tower C, SOHO New Town, 88 Jianguo Road
Beijing 100022, China.
Hong Kong ：
Rm.A-C, 6/F, Wearbest Buiding No.66 Tokwanwan Road
Tokwanwan, Kowloon, HK
21 West 39th Street,rm 2A,
New York,NY 10018,USA
Contact Person: Lynne Lu
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