Advanced Battery Technologies, Inc. Signs with Distributor Agency for European Market
Advanced Battery Technologies, Inc. Press ReleaseFlashlightNews.org - 06/16/2006
HARBIN, Cn. - Advanced Battery Technologies, Inc. (OTCBB: ABAT), a developer and manufacturer of rechargeable Polymer-Lithium-Ion (PLI) batteries, today announced that it has signed a memorandum of understanding (MOU) with Lefeber Management Ltd. (LML), a Dutch company located at Laiden, the Netherlands, for LML to act as ABAT's agent to distribute ABAT's polymer lithium-ion battery (PLI Battery), and nanometer material battery in the region of Europe for a period of two (2) years.
The MOU provides that LML pay in advance for shipment of products ordered, and reach a minimum of $3 million of annual sales to maintain agency status, among other terms and provisions.
"We are very pleased to work with Lefeber Management, and hope the distributor agency relation will result in our battery products entering the European market," said Zhiguo Fu, Chairman and CEO of Advanced Battery Technologies, Inc.
About Advanced Battery Technologies, Inc.
Advanced Battery Technologies, Inc. founded in September 2002, develops, manufactures, and distributes rechargeable Polymer Lithium-Ion (PLI) batteries. The Company's products include PLI batteries for electric vehicles, motorcycles, mine-use lamps, cell phones, notebook computers, and other personal electronic devices. The Company's batteries combine high-energy chemistry with state of the art polymer technology to overcome many of the shortcomings associated with other types of rechargeable batteries. The PLI battery for use in all-electric vehicles is developed using the Company's proprietary technologies. The Company's R&D and manufacturing facilities are located in China and it maintains an office in New York City.
For more information about Advanced Battery Technologies, Inc. please visit www.zqpt.com.
Safe Harbor Statement under the Private Securities Litigation Reform Act of 1995
This news release contains forward-looking statements within the meaning of the "safe harbor" provisions of the Private Securities Litigation Reform Act of 1995, may involve risks, uncertainties and other factors that may cause the company's actual results to be materially different from any future results or performance suggested by the forward-looking statements in this release. These risks and uncertainties include, without limitation, risks that that technical issues will delay or prevent the development of the planned all-electric bus, risks that the market for the all-electric bus using the materials designed and built by the parties may be limited, and the risks that other all-electric buses receive better market acceptance than those described in this release. We undertake no obligation to revise or update publicly any forward-looking statements.