Advanced Battery Technologies Announces $3.3 Million Contract With Beijing's Ding Xin Yi Tong Science & Technology Co.
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NEW YORK, NY and HARBIN, CHINA, Apr 10 (MARKET WIRE)
--
Advanced Battery Technologies, Inc. (NASDAQ: ABAT) today announced the
signing of a contract with Beijing's Ding Xin Yi Tong Science & Technology Co.,
Ltd., under which Advanced Battery Technologies will produce 110,000 External
Mobile Power Supplies. Ding Xin Yi Tong Science & Technology Co., Ltd. is a
distributor of complex electronic components such as mother boards, computer
chips etc. Advanced Battery Technologies, Inc. develops, manufactures, and
distributes rechargeable polymer lithium-ion (PLI) battery cells for use in
electric
vehicles, mining equipment, and a variety of other consumer electronics.
ABAT will produce 110,000 External Mobile Rechargeable Power Supplies,
including
40,000 units of the ABAT Intelligent Digital Mobile Power Solar Charger, 20,000
units of the ABAT Solar Power Charger, 40,000 units of the ABAT Intelligent
Digital Mobile Power Charger, and 10,000 units of the ABAT Notebook External
Rechargeable Mobile Power Supply. The contract price is $3.3 million.
"We are extremely pleased to have our External Mobile Power Supplies
distributed
by Ding Xin Yi Tong Science & Technology Co.," stated Mr. Zhiguo Fu, CEO of
Advanced Battery Technologies. "By distributing our products to their
customers, Ding Xin Yi Tong Science & Technology Co. helps the new 'on the
go' generation take their mobile devices on the road and not worry about
battery life."
"This contract of $3.3 million is our second major contract of 2008. In
combination with the $23.4 million contract announced in January, 2008 is
positioned to be another exceptional year of growth for our company. We are
encouraged by the breadth of applications to which we believe our
technologies apply," concluded Mr. Fu.
Mr. Yonggang Zhao, Beijing Ding Xin Yi Tong Science & Technology Co., Ltd.
's
Chairman, said, "ABAT's External Mobile Power Supply has passed all our
tests. I believe the quality of ABAT's exceptional products will benefit
usand our customers."
About Advanced Battery Technologies, Inc.
Founded in September 2002, Advanced Battery Technologies 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,
and consumer electronics, including cellular telephones, laptop computers, and
digital cameras. ABAT maintains research and development, and manufacturing
facilities in Harbin, China, and administrative offices in New York, New
York. Additional information about Advanced Battery Technologies is available
at www.abat.com.cn.
Forward-looking statements:
Certain statements in this news release may constitute "forward-looking"
statements within
the meaning of Section 21E 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. Risk factors are
listed in the most recent Annual Report on Form 10-KSB and the most recent
Quarterly Report on Form 10-QSB 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.
Contact:
John Tsemberides
44 Wall Street
New York, N.Y.
(917) 734-1524
Email Contact
Copyright 2008, Market Wire, All rights reserved.
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