A Significant Subset of the Global Lead-Acid Battery Market, Predicted to Reach $70.7 Billion by 2023, can be Better Served by High-Power Supercapacitor Modules Alone or in Combination with Standard Lead-Acid Batteries.
CORONA, CA / ACCESSWIRE / April 24, 2019 / ADOMANI, Inc. (NASDAQ: ADOM), a provider of advanced zero-emission and hybrid vehicle drivetrain solutions and purpose-built electric vehicles, announced today its new, energy storage product offering with Amperics, Inc., an energy storage technology innovator, developer and vendor of advanced supercapacitor-based intelligent energy storage solutions. ADOMANI and Amperics' collaboration started initially with the design and manufacture of an uninterruptable power supply product to support a new customer opportunity in the Far East. The relationship has grown into the preemptive identification, design and production of supercapacitor-based energy storage solutions for applications that show increasing market demand and have specific use cases that can benefit most from supercapacitors' unique attributes.
The new ADOMANI Starter Module product offering can replace or supplement the ubiquitous lead-acid type starter batteries used in traditional combustion engines, commercial trucks, buses, on/off road construction and mining vehicles and generator sets. Without regular preventative maintenance, traditional lead-acid (LA) starter batteries have limited lifespans and failure rates are greatly magnified in highly-cycled applications, especially when used in harsh environmental conditions.The new ADOMANI Starter Module product with integrated Amperics supercapacitors (SCs) with their attributes of high power, very high cycle-life and wide operating temperature characteristics, offers a superior solution to lead-acid batteries either as a stand-alone starter module or in a hybrid (LA plus SCs) configuration. This week, ADOMANI will participate in the Advanced Clean Transportation Expo in Long Beach, California (Booth 1655) displaying a variety of electric vehicles and looking for pilot customers and applications for the new ADOMANI Starter Module.
Regarding this new product, Jim Reynolds, President and CEO of ADOMANI said, ''Having been directly involved in the sales of commercial fleet vehicles and their associated maintenance for many years, I'm very happy ADOMANI has a new product offering that can directly address a common maintenance and reliability issue that fleet managers of traditionally-fueled vehicles have to constantly deal with. The Amperics patented and proprietary supercapacitor technology we utilize can save fleets money and maintenance technician time involved with trouble shooting, starter battery replacements and dead battery jump starts and can significantly increase vehicle reliability and minimize downtime. The use of Amperics supercapacitors continues to be a significant differentiator for us and opens up new and disruptive product opportunities for ADOMANI in other energy storage applications that would benefit from highly reliable, long-lasting, high cycle-life alternatives to traditional batteries.''
Bala Padmakumar, CEO of Amperics said, ''While energy storage technologies have made great progress in the last few years with lithium ion batteries becoming well-known for electric vehicle traction packs, the fact remains that there is no single technology that works optimally in all applications. In high power, intermittent use applications that operate in unfavorable temperature environments, supercapacitors either as a standalone or in a hybrid configuration with another energy storage technology, can be the best choice. On a Total-Cost-Of-Ownership basis, they can be cheaper, smaller, more reliable and safer, than lead-acid and lithium ion batteries, in a diverse range of applications. The cumulative customer relationships built over decades by the ADOMANI sales team can be carefully leveraged for potential pilot deployments and future product sales as we advance our technology portfolio and build new product verticals.''
ADOMANI, Inc. is a provider of zero-emission electric and hybrid vehicle drivetrain systems for integration in new school buses and medium to heavy-duty commercial fleet vehicles, as well as re-power conversion kits for the replacement of drivetrain systems in combustion-powered vehicles. ADOMANI is also a provider of new zero-emission electric and hybrid vehicles focused on reducing the total cost of vehicle ownership, and helps fleet operators unlock the benefits of green technology and address the challenges of traditional fuel price instability and local, state and federal environmental regulatory compliance. For more information, visit www.ADOMANIelectric.com.
Amperics is a developer and vendor of intelligent and optimized energy storage systems that leverage its proprietary high-voltage and high-energy density supercapacitor technology. Amperics's products are often implemented in a hybrid configuration. In addition to deep chemistry, Amperics deploys intelligent power electronics to deliver unmatched application-focused products. While Amperics develops its products in facilities in the San Francisco Bay Area, manufacturing is supported in the Far East. For more information, visit www.Amperics.com.
Cautionary Statement Regarding Forward-Looking Statements
Statements made in this press release that relate to future plans, events, financial results, prospects or performance are forward-looking statements as defined under the Private Securities Litigation Reform Act of 1995. While they are based on the current expectations and beliefs of management, such forward-looking statements are subject to a number of risks, uncertainties, assumptions and other factors that could cause actual results to differ materially from the expectations expressed in this press release, including the risks and uncertainties disclosed in reports filed by ADOMANI with the Securities and Exchange Commission, all of which are available online at www.sec.gov. All statements, other than statements of historical fact, are statements that could be deemed forward-looking statements, including statements containing the words ''planned,'' ''expects,'' ''believes,'' ''strategy,'' ''opportunity,'' ''anticipates,'' ''outlook,'' ''designed'' and similar words. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date hereof. Except as required by law, ADOMANI undertakes no obligation to update or revise any forward-looking statements to reflect new information, changed circumstances or unanticipated events.
Investor Relations Contacts:
Kevin Kanning, VP Investor Relations
Telephone: (650) 533-7629
James Carbonara, Hayden IR
Telephone: (646) 755-7412
Michael K. Menerey, Chief Financial Officer
Telephone: (951) 407-9860 ext. 205
SOURCE: ADOMANI, Inc.
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