NEW YORK, USA: Advanced Battery Technologies Inc., a leading developer, manufacturer and distributor of rechargeable Polymer Lithium-Ion (PLI) batteries, announced that on August 24, 2010 it signed a polymer lithium-ion phosphate battery supply contract with Hengmin Opto-electrical Tech Co., which is based in DongGuan City, Guangdong Province.
Hengmin is primarily engaged in lithium-battery pack assembly and power management systems production and sales.
The contract amount is valued at approximately $5.7 million and shipment will begin within 30 days. ABAT will deliver lithium-ion phosphate battery packs, which provide the power source for LED lights, walkie-talkies and street lamps. The street lamp product will use the large lithium-ion phosphate battery with 50AH capacity per single battery cell.
Zhiguo Fu, chairman and CEO of Advanced Battery Technologies, stated: "We are pleased about this new battery order. Hengmin has researched the market and compared our batteries with competitors and their order is a further validation of the quality and value of our Company's polymer lithium-ion batteries.
"We view this contract as a confirmation of our commitment to research and development and we will continue our efforts of providing the most updated and advanced technology for our customers."
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