Vendum Batteries Agrees to MOU with Thomas Swan

July 01, 2010 by Jeff Shepard

Vendum Batteries Inc., a US-based battery technology development company, announced that it has entered into a memorandum of understanding (MOU) with Thomas Swan & Co. Ltd., a U.K.-based nano-material company.

Both companies have signified their intention to enter into a long-term supply agreement whereby Thomas Swan will provide Vendum with R&D and production quantities of carbon nanotubes at a preferential price in return for exclusivity of supply.

Fraser Cottington, CEO of Vendum batteries, believes an agreement with Thomas Swan will deliver considerable benefits for the Company, saying "Vendum is excited about the prospect of collaborating with Thomas Swan, who will provide Vendum with first-class R&D carbon Nanotubes and subsequent commercial quantities needed to take our company to the next level. Thomas Swan will help Vendum to continually produce the most advanced and cutting edge battery technology and design."

Harry Swan, Managing Director of Thomas Swan also commented, "I am delighted to announce our intention to work with Vendum and I believe the collaboration will enable unique and exciting developments in battery design and performance."