EV Battery Tech Closes Acquisition to Bring Patented BMS Technology to North America, South America, Europe and Africa
2020年10月31日 - 5:30AM
Extreme Vehicle Battery Technologies Corp.
(the “
Company” or “
EV Battery
Tech”) (CSE: ACDC) is pleased to announce that it has
signed a marketing and development agreement with Jiangsu RichPower
New Energy Co. Ltd. (“
RichPower”) and Intelligent
Battery Technologies (“
IBT”) and closed the
acquisition contemplated in its distribution and technology license
agreement with Rich Power and IBT (the
“
Definitive
Agreement”).
RichPower is a leader in the battery management
system (BMS) and energy storage system (ESS) industries in China. A
vertically integrated company, RichPower is involved in activities
ranging from research and development to battery production.
RichPower operates facilities in Shanghai and Suzhou, two of the
largest cities in China. The facilities are host to some of the
world’s top research experts and state-of-the-art manufacturing
equipment. These facilities offer turnkey and full-cycle services,
providing products and services to the electric vehicles, power
grid system providers, remote mine energy and commercial building
power applications markets.
RichPower has been able to differentiate itself
by its ability to use Artificial Intelligence
(“AI”) to remotely manage and significantly extend
the life of any battery system. Through the use of AI, it has
developed a “smart” BMS that learns and evolves with user
behaviours resulting in a significant increase in power saving and
efficiency. Its AI algorithms can specifically predict future
failures and provide more stable operations and remote maintenance
on battery systems.
RichPower holds more than 70 national patents
ranging from software, technology, invention and utility
authorization, with several more patents pending. With RichPower’s
experienced R&D department, the Company has no doubt they will
continue to provide leading edge customized solutions for the
Company’s clients in the North American, South American, European
and African markets (the “Target
Markets”).
The closing of the Definitive Agreement will now
allow EV Battery Tech to develop battery technologies for the
Target Markets with features which include, but are not limited
to:
- Artificial Intelligence
- Real-time Monitoring
- Remote Maintenance
- Longer Battery Life
- More Efficient Power Supply
- Smart Charging Systems
- Battery Recycling
- Blockchain Infrastructure
“We are very happy to be bringing our technology
to the global markets through our partner EV Battery Technologies,”
stated Jingke (Jack) Han, President and CEO of RichPower. “We are
extremely proud of our technology and the market share we have
captured in Asia and we are now excited to partner with EV Battery
Tech to become a disruptive force in the global markets,” continued
Mr. Han.
Rich Power has created a majority-owned
subsidiary, IBT, to assist in developing RichPower’s technologies
in the North American market. EV Battery Tech will be working
closely with IBT to develop its blockchain technology and adapt
RichPower’s battery technology for the North American markets.
“EV Battery Tech is just the business partner we
needed to get RichPower’s ground-breaking technologies into
international markets, starting here, in North America. We are
excited to be able to commercialize quickly with the help of EV
Battery Tech,” commented Yoga Yogendran, President and CEO of
IBT.
As a closing condition to the definitive
agreement, the Company has issued 8,000,000 common shares to
IBT.
“We are very fortunate to be bringing a proven
technology to the North American market,” stated Bryson Goodwin,
President and CEO of EV Battery Tech. “RichPower has
not only commercialized these technologies, but made a name for
themselves in China. We now have the opportunity to work with them
to become an early mover in the North American
market,” concluded Mr. Goodwin.
On behalf of the Company,
Bryson Goodwin, Chief Executive Officer.
Email: info@evbattery.tech
Phone: 604-325-2223
Further information about the Company is
available under its profile on the SEDAR website, www.sedar.com, on
the CSE website, www.thecse.com, and on its website.
The CSE (operated by CNSX Markets Inc.) has
neither approved nor disapproved of the contents of this press
release.
About EV Battery Technologies
EV Battery Tech is a blockchain and battery
technology company with exclusive North and South American
distribution rights as well as European and African distribution
rights to patented battery management systems (BMS) designed to
meet the growing demand for scalable, smart solutions for the
electric vehicle (EV) and energy storage solution (ESS)
markets.
EV Battery Tech’s technology is based on
artificial intelligence (AI) algorithms designed to analyze the
short comings of batteries in today’s market. The resulting
extraordinary technology allows batteries to have more efficient
power management and longer battery life, while offering real-time
monitoring and remote maintenance.
The Company’s AI technology may also allow it to
use recycled batteries in its ESS manufacturing process, which
would make it one of the greenest battery technology companies in
the industry.
Forward-Looking Statements
The information in this news release includes
certain information and statements about management’s view of
future events, expectations, plans and prospects that constitute
forward looking statements. These statements are based upon
assumptions that are subject to risks and uncertainties. Forward
looking statements in this news release include, but are not
limited to, statements relating to: RichPower’s business model and
the effectiveness of its products; RichPower’s ability to continue
to provide leading edge customized solutions; the Company’s ability
to develop technologies for its Target Markets; RichPower’s plans
to further commercialize its technology and become a disruptive
force in the global markets; the Company’s plan to become an early
mover in the North American market; risks associated with emerging
markets; the Company’s plan to integrate its blockchain platform
into its new battery technologies and capitalize on a new and
growing market; market trends in the battery industry; and the
Company’s battery technology partnership. Although the Company
believes that the expectations reflected in forward-looking
statements are reasonable, it can give no assurances that the
expectations of any forward-looking statement will prove to be
correct. Except as required by law, the Company disclaims any
intention and assumes no obligation to update or revise any
forward-looking statements to reflect actual results, whether as a
result of new information, future events, changes in assumptions,
changes in factors affecting such forward-looking statements or
otherwise.
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