U.S. Markets open in 2 hrs 43 mins

Advanced Battery Technologies and Strategic Partner Sichuan Western Resources Controlling Subsidiary Announce Successful New Product Launch

NEW YORK, NY and BEIJING, CHINA--(Marketwired - November 05, 2014) - Advanced Battery Technologies, Inc. (ABAT), specializing in the design, manufacture and distribution of eco-friendly rechargeable batteries and related light electric vehicle products today announced the launch of a superior fast charging nano lithium titanate battery. ABAT and Long Power Systems (Suzhou) Co., Ltd (http://www.longpowers.com/index.php/zh/), one of the controlling subsidiaries of Sichuan Western Resources Holdings Co., Ltd. (600139:Shanghai), a publicly traded company on the Shanghai Stock Exchange, co-developed the new battery technology. 

The fast charging lithium titanate battery is the first of its kind in the China market. It offers a wide range of usage, excellent performance and superior safety profile. ABAT applied its proprietary processing in the production of the battery utilizing advanced battery materials from Long Power Systems. Dr. Biying Huang, CEO of Long Power Systems was responsible for the battery material development. Dr. Huang is one of the leading scientists in lithium battery technology in China. She holds several patents in the field. Dr. Huang did her post-doctoral study at MIT in lithium battery materials and electrolytes and worked at a prestigious consulting company in the United States. 

Mr. Zhiguo Fu, Chairman and CEO of Advanced Battery Technologies, commented, "We are very pleased and excited to announce this new product which is jointly developed by ABAT and Dr. Biying Huang. This new product demonstrated our ability to innovate and maintain our market leadership position in the lithium battery industry in China. The newly developed battery offers superior performance to users but also maintains a comparable cost to ABAT. It will help address the growing demand for rechargeable lithium batteries. This high end product will enhance ABAT's profit margin and market share. We expect the product will soon be in industrial scale production."

The nano lithium titanate battery offers the fastest charging time and best performance among similar products in the markets. 

The new lithium titanate battery has seven unique characteristics:

  • Fast charging time -- The maximum charge current is approximately 7C and the charging time around 10 minutes
  • Greater tolerance of larger discharge current -- When discharge current is less than 7C, discharge capacity can reach more than 90% of the battery capacity
  • Long cycle life of 8000-10000 charges
  • Stable discharge platform
  • Low cost of raw materials
  • Superior battery safety and performance
  • Wide operating temperature range

About Advanced Battery Technologies, Inc.

Advanced Battery Technologies, Inc. (ABAT), with executive office in Beijing, China is committed to the clean energy industry. With three manufacturing subsidiaries in Harbin, Wuxi and Dongguan, China, ABAT engages in the design, manufacture, marketing and distribution of rechargeable polymer lithium-ion (PLI) batteries and related Light Electric Vehicles (LEV's) products. Additional information about the Company is available at: http://abat.sys145.pkulab.com/a/english/

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 the demand for the Company's electric vehicles may be limited. We undertake no obligation to revise or update publicly any forward-looking statements.