Houston, TX September 28, 2004 — Power Technology, Inc. (stock symbol = PWTC), has recently accelerated activities to commercialize its’ award winning new battery technology. See the information web site http://www.pwtcbattery.com for more details.
Recent developments include:
Adding a new CEO with business development and technology commercialization expertise. See http://www.pwtcbattery.com/ceo-news.htm for bio and details.
Securing $5,500,000 in expansion funding (http://www.pwtcbattery.com/technology-financing-news.htm) to enable new battery technology commercialization pre-production engineering and development.
Locking up 27.6 million shares of common stock (http://www.pwtcbattery.com/stock-news-915.htm) to enhance stock market performance potential.
Announcing plans to manufacture prototype batteries for industry evaluation to refine sales strategy and manufacturing plans for full commercialization of their unique battery technology.
Power Technology (PWTC) will utilize their patented, award winning new battery technology (http://www.pwtcbattery.com/battery-technology.htm) to develop and commercialize a variety of environment friendly (90% less lead) batteries anticipated to be less then half the size and up to 66% lighter than conventional batteries.
Company research indicates that these new batteries should also have superior recharge rates and longer lifetimes.
Lighter, smaller sized batteries can be used to satisfy the needs of the electric wheelchair industry as well as many green energy applications including solar and wind power storage, fuel cells, electric cars, hybrid engines and other alternate energy technology. See http://www.pwtcbattery.com/alternative-energy.htm for more information.
The $14 billion annual industrial battery marketplace includes traction (motive power) batteries and stationary (standby or uninterruptible power supply) batteries.
In the automotive sector, more than 110 million lead acid vehicles batteries were manufactured in 2003 for over 650 million vehicles on the world’s roads. Approximately 81% of automotive battery sales worldwide in fiscal 2003 were for the automotive replacement market. Johnson Controls, a leading U.S. lead acid battery manufacturer, produces batteries for more than 35 million vehicles annually. These batteries were worth an estimated $1.8 billion. More than 50 million Chinese sealed lead acid batteries were shipped in 2003.
Hybrid vehicle growth drove growth for nickel metal hydride and lithium batteries as more than 120,000 hybrid passenger cars have been sold. Demand is expected to continue to exceed production.
Notice: This release is for information purposes only. Power Technology, Inc. has neither approved nor disapproved this release. This release is not an offer or solicitation to buy securities. This information should not be considered to be any type of investment opinion or advice. These statements are not guarantees of future results of performance. All statements, other than statements of fact, included in this release, may include forward-looking statements that involve risks and uncertainties. There can be no assurance that such statements will be accurate and actual results and future events could differ materially from those anticipated in such statements. Battery market information is based on BCC, Inc.’s Battery & EV Technology Newsletter, which keeps readers abreast of battery and EV industry technology developments and industry news.
This article courtesy of http://www.alternative-power-energy.com. You may freely reprint this article on your website or in your newsletter provided this courtesy notice and the author name and URL remain intact.