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Electro Energy Adds Chinese Patent to Patent Portfolio
Friday, June 22, 2007
Danbury, CT -- Electro Energy Inc. (Nasdaq: EEEI), a leading provider of advanced battery technologies and associated systems, today announced the addition of a Chinese patent to its portfolio. This patent marks the 11th foreign patent that the Company has been issued relating to its bi-polar advanced rechargeable battery technology in addition to the 8 U.S. patents the Company currently holds. Additionally, the application for one U.S. patent is currently pending.
Patent # ZL 02817670.7 has been issued by the People's Republic of China to Electro Energy covering various aspects of its bi-polar advanced rechargeable battery technology. The patent relates to packaging methods and fabrication techniques for making bi-polar flat wafer cells that are capable of being stacked in a multi-cell battery construction. The patent is applicable to multiple battery chemistries as they are used in Electro Energy's bi-polar design for rechargeable Nickel Metal Hydride (NiMH) and Lithium ion batteries.
Electro Energy's bi-polar flat wafer cell design represents a significant departure from conventional battery configurations and offers several key advantages, including improved energy storage capacity, efficient battery performance as well as long term chemical and physical stability, lower packaging weight and volume and lower manufacturing costs. These advantages are critical in power-consuming products such as hybrid electric cars, electric bicycles and scooters, cordless power tools, load regulation and stationary energy storage.
Michael Reed, President and CEO of Electro Energy, stated, "We are very pleased to report this latest acknowledgement of our innovative bi-polar flat wafer cell battery design by the People's Republic of China and the strengthening of our international intellectual property portfolio. This design is significantly simpler and less costly to manufacture than conventional cylindrical and prismatic battery technologies while providing improved battery performance. Bi-polar flat wafer cell batteries can be efficiently customized to meet the unique shape, size, voltage and capacity requirements of many applications in the transportation, consumer products and energy transmission and storage markets."
About Electro Energy Inc.
Electro Energy Inc., headquartered in Danbury, Connecticut, was founded in 1992 to develop, manufacture and commercialize high-powered, rechargeable bi-polar nickel-metal hydride batteries for use in a wide range of applications. Its Colorado Springs operation supplies aerospace-grade high quality nickel cadmium batteries and components for satellites, aircraft and other specialty applications. EEEI is also developing high-power lithium rechargeable batteries utilizing the Company's proprietary bi-polar design. EEEI has recently acquired significant manufacturing assets near Gainesville, Fla. to accelerate commercialization of its battery technology. For further information, please visit http://www.electroenergyinc.com.
Certain statements in this news release may contain forward-looking information within the meaning of Rule 175 under the Securities Act of 1933 and Rule 3b-6 under the Securities Exchange Act of 1934, and are subject to the safe harbor created by those rules. All statements, other than statements of fact, included in this release, including, without limitation, statements regarding potential future plans and objectives of the companies, are forward-looking statements that involve risks and uncertainties. There can be no assurance that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements. Factors that could cause actual results to differ materially from those in the forward-looking statements include, among other things, the following: general economic and business conditions; competition; unexpected changes in technologies and technological advances; ability to commercialize and manufacture products; results of experimental studies; research and development activities; changes in, or failure to comply with, governmental regulations; and the ability to obtain adequate financing in the future. This information is qualified in its entirety by cautionary statements and risk factors disclosure contained in certain of Electro Energy Inc.'s Securities and Exchange Commission filings available at http://www.sec.gov.
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