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Vendum Batteries (VNDB 0.75, 0.00, 0.00%), a US-based battery technology development company, is pleased to announce that it has entered into a memorandum of understanding with Thomas Swan, a leading nano-material company.
Both companies have signified their intention to enter into a long-term supply agreement whereby Thomas Swan will provide Vendum with R&D and production quantities of carbon nanotubes at a preferential price in return for exclusivity of supply.
Fraser Cottington, CEO of Vendum batteries, believes an agreement with Thomas Swan will deliver considerable benefits for the Company, saying "Vendum is excited about the prospect of collaborating with Thomas Swan, who will provide Vendum with first-class R&D carbon Nanotubes and subsequent commercial quantities needed to take our company to the next level. Thomas Swan will help Vendum to continually produce the most advanced and cutting edge battery technology and design."
Harry Swan, Managing Director of Thomas Swan also comments, "I am delighted to announce our intention to work with Vendum and I believe the collaboration will enable unique and exciting developments in battery design and performance."
Disclaimer - Forward Looking Statements
This press release contains "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, and such forward-looking statements are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. "Forward-looking statements" describe future expectations, plans, results, or strategies and are generally preceded by words such as "may," "future," "plan" or "planned," "will" or "should," "expected," "anticipates," "draft," "eventually" or "projected." You are cautioned that such statements are subject to a multitude of risks and uncertainties that could cause future circumstances, events, or results to differ materially from those projected in the forward-looking statements, including the risks that actual results may differ materially from those projected in the forward-looking statements; projected events in this press release may not occur due to unforeseen circumstances, various factors, and other risks identified in a company's annual report on Form 10-K and other filings made by such company.
About Vendum Batteries
Vendum Batteries has a pending patent on a non-toxic, carbon-based light-weight battery. The paper-thin battery contains none of the toxic elements used in conventional batteries and its cutting edge carbon nanotube and cellulose-based technology makes it entirely biodegradable. The Vendum Battery will be developed from its current low power capacity, to soon accommodate the ever-increasing global demand for durable battery power for i.e. cell phones, iPods, gadgets, human implants and eventually electrical vehicles etc.
Americans purchase around 5 billion batteries, leaving at least 146,000 tons of battery waste behind, and given that the worldwide personal battery use is a growing $63 billion industry, the potential of this revolutionary non-toxic technology could be enormous.
About Thomas Swan
Founded in 1926, Thomas Swan began production of nanotubes in 2004 and is now recognised as a leader in the field of carbon nanomaterial industrial production. The company has recently announced an increase in production capacity to 50kg per month and is working in selected application fields to bring its products to market. Thomas Swan currently manufactures over 100 products, from kilogram to multi-tonne quantities and exports to over 80 countries worldwide.
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Vendum Batteries Inc.
400 Continental Blvd, 6th floor
El Segundo, CA, 90245
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