SOURCE: Advanced Battery Technologies, Inc.

September 24, 2007 08:30 ET

Advanced Battery Technologies Announces $4.6 Million Contract With Wuxi Angell Autocycle Co., Ltd.

HARBIN, CHINA and NEW YORK, NY--(Marketwire - September 24, 2007) - Advanced Battery Technologies, Inc. (OTCBB: ABAT) today announced that it has entered into a contract with Wuxi Angell Autocycle Co., Ltd. to produce $4.6 million worth of polymer lithium-ion battery sets. Wuxi Angell Autocycle Co., Ltd. manufactures motorized vehicles, including e-bikes, ATVs, scooters, pocket bikes, dirt bikes, go-karts, snow scooters, and sea scooters, for domestic and overseas markets. Advanced Battery Technologies, Inc. develops, manufactures and distributes rechargeable polymer lithium-ion (PLI) battery cells.

"We are extremely pleased to be providing these battery sets to Wuxi Angell for use in its products. This order continues to establish Advanced Battery as a maker of superior battery cells," stated Mr. Zhiguo Fu. "The flexibility of our polymer lithion-ion battery technologies allows us to meet the needs of a diverse, and expanding array of customers. Customization and meeting the unique needs of a given company are fundamental operating principles for our company," Mr. Fu concluded.

About Advanced Battery Technologies, Inc.

Founded in September 2002, Advanced Battery Technologies develops, manufactures, and distributes rechargeable PLI battery cells using lithium cobalt oxide anodes to overcome many of the shortcomings associated with other types of rechargeable batteries. ABAT develops PLI battery cells for use in electric vehicles, mine lamps, and consumer electronics, including cellular telephones, laptop computers, and digital cameras. ABAT maintains research and development, and manufacturing facilities in Harbin, China, and administrative offices in New York, New York. Additional information about Advanced Battery Technologies is available at

Certain statements in this news release may constitute "forward-looking" statements within the meaning of section21E of the Securities and Exchange Act of 1934. The Company believes that its expectations, as expressed in these statements are based on reasonable assumptions regarding the risks and uncertainties inherent in achieving those expectations. These statements are not, however, guarantees of future performance and actual results may differ materially. Some of the factors that may affect the forward looking statements in this news release are the availability of licensed personnel to operate pharmacies, the availability of suitable retail locations, and the acceptance of new technologies by the medical profession. Other risk factors are listed in the most recent Annual Report on Form 10-KSB and Quarterly Report on Form 10-QSB, filed with the Securities and Exchange Commission. Such forward-looking statements involve risks and uncertainties, which may cause the actual results, performance, or achievement expressed or implied to differ.

Contact Information