Power Technology Enters Battery Agreement With AnicheMay 26, 1999 by Jeff Shepard
Power Technology Inc. (Las Vegas) announced it has entered into an exclusive joint manufacturing and distribution agreement with Aniche Inc., a Phoenix-based international OEM manufacturing agent officially authorized by the Chinese Central Government to represent Power Technology in prototyping, OEM manufacturing, planning, market development and sales distribution throughout China of its patented nickel-iron battery technology.The first target is auto and electric bicycle markets in China. Power Technology claims to have developed a more powerful, more efficient environmentally friendly battery for commercial use in the auto industry, for standby power stations, the electric vehicle market and other applications. Made of a lightweight nontoxic alloy with acid-free electrolyte, the battery is said to offer twice the power and half the weight of a conventional battery.Aniche President Philip Liu commented, "Power Technology's unique battery technology not only radically transforms the affordability of mass transportation for China's average citizen but can become immediately competitive in both commercial and industrial sections as well." If it becomes popular with Chinese auto makers, Liu predicts a $50 million per year market. The firms are also eyeing the Chinese electric bicycle market.Power Technologies also announced that it has entered into formal discussion with a major North American utility for the development and commercialization of its Alloy Sensor Technology, a proprietary patented metal alloy which acts as a continuous self-generating power source when introduced to any aqueous medium.