Bolder Signs Agreement with Snap-on Tools To Supply Thin Metal Film Battery
Bolder Technologies Corp. (Golden,CO) has signed an agreement with Snap-on Tools Co. to supply Bolder's Thin Metal Film (TMF) battery technology to a line of Snap-on products for professional auto technicians. Developed and manufactured by Bolder to Snap-on's specifications, the first product is expected to be introduced in the fourth quarter and will be sold initially through Snap-on's domestic network of franchisees. Snap-on will market and distribute TMF-powered products manufactured by Bolder, and Bolder will generate revenue based on a fixed price per unit sold. Bolder Chairman and Chief Executive Officer Daniel S. Landford said, "This agreement with Snap-on significantly advances our goal of becoming a major supplier of advanced battery systems in a broad range of applications that include the automotive industry. We believe the high power and small size of TMF batteries will enable Snap-on Tools Company to offer new types of portable equipment for the professional auto technician.