Advanced Battery Concepts LLC Enters into Fourth License Agreement with the Largest Battery Producer in India, Exide Industries Limited
CLARE, Mich., Jan. 2, 2018 /PRNewswire/ -- Advanced Battery Concepts, a battery technology company, is proud to announce that it has agreed to license its industry changing GreenSeal® technology to Exide Industries Limited.
Advanced Battery Concepts' GreenSeal® technology drastically simplifies lead battery manufacturing and significantly improves lead battery performance by increasing cycle life, lowering weight, reducing recharge time, improving reliability and is fully recyclable. This improvement is achieved through reduction of lead-metal content by an average of 46% and more efficient working of the active materials through innovative patented design.
Exide Industries Limited is a world leading manufacturer of lead batteries used in multiple market segments, including automotive, power and telecoms. Exide Industries has a dominant market position in the very important and growing domestic Indian market. With annual sales of more than $1.3B Exide Industries manufactures possibly the widest range of storage batteries in the world covering the broadest spectrum of applications supplied from its seven battery manufacturing facilities.
GreenSeal® technology continues to gain momentum and global acceptance, as Exide Industries Limited becomes Advanced Battery Concepts fourth licensee, joining Johnson Controls Power Solutions - the world largest manufacturer of lead batteries, Trojan Battery Company - a world leading manufacturer of lead deep-cycle batteries and another global major battery manufacturer. Advanced Battery Concepts is currently in licensing discussions with several other global lead battery producers and expects to have further announcements in 2018.
Dr. Ed Shaffer, CEO and Founder of Advanced Battery Concepts, commented "Exide Industries is a very highly regarded and substantial international company. We are very excited and proud that they have chosen Advanced Battery Concepts' GreenSeal® technology. Exide Industries has a dominant market position in India, a market that is expected to exceed $7B in sales by 2022 and we strongly believe GreenSeal® technology will be a major contributor to Exide Industries' continued success and market dominance there. Exide Industries becomes our fourth licensee and demonstrates our technology readiness for mass adoption by the lead battery industry. It is an extremely exciting time for Advanced Battery Concepts with growing acceptance of our product and manufacturing technology and improved performance over conventional lead batteries."
Mr G Chatterjee, MD &CEO of Exide Industries Limited commented "Advanced Battery Concepts' GreenSeal® technology has significant potential to enhance battery performance and reliability in India's higher temperature environment while offering the benefit of simplifying application installations offering enhanced reliability, performance and cost of ownership for our customers. In addition, GreenSeal® technology offers improvements to our manufacturing systems with resultant benefits."
About Advanced Battery Concepts, LLC
Advanced Battery Concepts LLC is a global battery technology development company based in Michigan, USA, and is the first company to successfully design a bipolar lead battery with a commercially viable manufacturing process for such batteries. Advanced Battery Concepts is currently working with existing lead acid battery producers and engaging licensees to realize the commercial potential of its technology, as well as on-going production of batteries and additional research from its Battery Research & Engineering Development Centre in Michigan to continue to broaden its technology portfolio.
For more information, visit www.advancedbatteryconcepts.com
SOURCE Advanced Battery Concepts
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