SOURCE: Advanced Battery Technologies, Inc.

June 23, 2006 08:30 ET

Advanced Battery Technologies, Inc. Ships First Batch of 500,000 Digital Camera Batteries to Easywood Ltd. in Hong Kong

HARBIN, CHINA -- (MARKET WIRE) -- June 23, 2006 --Advanced Battery Technologies, Inc. (OTCBB: ABAT), a developer and manufacturer of rechargeable Polymer-Lithium-Ion (PLI) batteries, today announced that it has shipped 500,000 polymer lithium-ion (PLI) batteries to Easywood Holdings Ltd based in Hong Kong. These batteries are designed for use in digital cameras. The half a million batteries are part of a 2,000,000 battery order from Easywood, with a value of HK$32,000,000, or approximately US$4.1 million. This order represents a 33% increase compared with the order of HK$24,000,000 received from Easywood in 2005 and shipped in the same year.

"We stepped up our order as we have seen increased demand from our customers," said Mr. Yang Yong Guo, General Manager of Easywood, "We like Advanced Battery Technologies batteries, as they are lighter, and smaller compared with other products in the same class. As these batteries do not contain liquid, they do not explode or leak. As ABAT's team continue their efforts on technology improvements and innovation, we are looking forward to a long term fruitful relationship."

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, motorcycles, 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.zqpt.com

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 that technical issues will delay or prevent the development of the planned all-electric bus, risks that the market for the all-electric bus using the materials designed and built by the parties may be limited, and the risks that other all-electric buses receive better market acceptance than those described in this release. We undertake no obligation to revise or update publicly any forward-looking statements.

Contact Information

  • Contact:
    For Additional Information:
    Advanced Battery Contact:
    Ms. Mellisa Chen
    21 W 39th Street Suite 2A
    New York, NY 10018
    Phone: (212) 391-2752