SOURCE: Advanced Battery Technologies, Inc.

May 29, 2007 08:30 ET

Advanced Battery Technologies, Inc. Signs New Contract to Sell Portable Rechargers

HARBIN, CHINA--(Marketwire - May 29, 2007) - Advanced Battery Technologies, Inc. (OTCBB: ABAT), a developer and manufacturer of rechargeable Polymer-Lithium-Ion ("PLI") batteries, announced today that on May 24, 2007, it has signed a sales contract with Guoan International Holdings, Ltd., Hong Kong, to supply a total of 120,000 sets of ABAT's new portable recharging devices. The contract includes the following: (1) 25,000 sets of model CG101-L (Solar charger); (2) 25,000 sets of model CG101-LQ (solar charger); (3) 50,000 sets of model G301 (smart digital portable power supplier); and (4) 20,000 sets of model M628 (portable power supplier for notebook computers). This contract when fully executed is worth about $3,820,000. Delivery under the contract will be in batches with the first shipment scheduled for 20 business days from the date of contract signing, May 24, 2007.

Mr. Zhiguo Fu, Chairman of Advance Battery Technologies stated that, "We are delighted to announce this new contract because it is not only economically significant for our Company, but also it will help create greater public awareness of our new proprietary technology and its applications within the personal electronic market."

About Advanced Battery Technologies, Inc.

Advanced Battery Technologies, Inc. founded in September 2002, develops, manufactures, and distributes rechargeable Polymer Lithium-Ion (PLI) batteries. The Company's products include PLI batteries for electric vehicles, mine-use lamps, cell phones, notebook computers, and other personal electronic devices. The Company's batteries combine high-energy chemistry with state-of-the-art polymer technology to overcome many of the shortcomings associated with other types of rechargeable batteries. The PLI battery for use in all-electric vehicles is developed using the Company's proprietary technologies. The Company's R&D and manufacturing facilities are located in China and it maintains an office in New York City.

For more information about Advanced Battery Technologies, Inc. please visit www.abat.com.cn.

Safe Harbor Statement under the Private Securities Litigation Reform Act of 1995

This news release contains forward-looking statements within the meaning of the "safe harbor" provisions of the Private Securities Litigation Reform Act of 1995, may involve risks, uncertainties and other factors that may cause the company's actual results to be materially different from any future results or performance suggested by the forward-looking statements in this release. These risks and uncertainties include, without limitation, risks that our products as manufactured are not accepted in a mass market. We undertake no obligation to revise or update publicly any forward-looking statements.

Contact Information

  • Contact:
    Lin Lu, Lynne
    21 W 39th Street
    New York, NY 10018
    Tel. (212) 391-2752