Electrosource Receives $2 Million Order

June 24, 1999 by Jeff Shepard

Electrosource Inc. (Austin,TX) announced it has received a $2 million order for its 12H95 Horizon Batteries from a Malaysian buyer. The order was placed by the international marketing group, Electrosource International Ltd., following the receipt of a purchase order from Perusahaan Otomobile Electric Sdn. Bhd. (POEM, Malaysia). The batteries will be used as the primary power source in electric vehicles manufactured by POEM in Kuala Lumpur, Malaysia. POEM is affiliated with Kamkorp Ltd., Electrosource's majority stockholder. "We are very pleased to receive this order, which has been in development for several months," stated Electrosource Chairman, President and CEO William F. Griffin.