Mobility Electronics, Inc. (Scottsdale, AZ) and Xantrex Technology Inc. (Burnaby, BC) have signed an agreement to jointly develop and market a new family of portable power inverter products. The new products will combine Mobility's itip technology and Xantrex's inverter technology.
Targeted at portable applications, the new power inverters will convert battery power from a vehicle, boat or airplane outlet into standard 110-volt AC to power a broad range of consumer electronics products, such as televisions, radios, public address systems, power tools, small appliances and more. The products will be equipped with an additional 15-watt DC output port, compatible with Mobility's itip technology, to enable the simultaneous charging of a second mobile electronic device such as a cell phone, digital camera, portable video game player or iPod™.
Introduction of the first of these new products is scheduled for the later part of 2005. Mobility will market these new products under its iGo® brand, and Xantrex will sell under its Xpower by Xantrex™ brand. Each company also has the right to manufacture private label versions of the new products for various customers, and each company can market, under its own brand name, a range of separately developed DC power adapters and portable power products manufactured by the other.
"This agreement with Xantrex expands our market to include power inverters, which we believe can generate meaningful incremental revenue for Mobility," said Charles Mollo, CEO of Mobility Electronics. "Many users of our power adapters also purchase inverters, and this agreement will allow us to leverage our itip technology and expand our offering of power product solutions. Xantrex also has a strong presence in the Recreational Vehicle and Commercial Trucking industries, which will provide Mobility with our first opportunity to tap into these markets."
Mossadiq S. Umedaly, Chairman of Xantrex, added, "Our partnership with Mobility will enable both companies to quickly introduce differentiated and useful products to power a very broad range of portable electronic devices. Mobility's itip technology will add an unmatched new functionality to our robust, compact and lightweight portable power products, allowing Xantrex to meet the needs of a rapidly growing market."
