SOURCE: Highpower International

Highpower International

June 18, 2014 08:30 ET

Highpower Completes Delivery of Its First Trial Order From Costco for Rechargeable Batteries for Solar Lighting

SAN FRANCISCO, CA and SHENZHEN, CHINA--(Marketwired - Jun 18, 2014) - Highpower International, Inc. (NASDAQ: HPJ), a developer, manufacturer, and marketer of lithium and nickel-metal hydride (Ni-MH) rechargeable batteries, and a battery management systems and battery recycling provider, today announced that the Company has delivered two containers of its Ni-MH rechargeable batteries to Costco as an initial trial order that will be used as power sources for general solar light products.

Highpower manufactured the products for one of its branded customers with specific power requirements to power a wide variety of solar light products. The initial order is expected to be sold from Costco to customers directly. Highpower's nickel-metal hydride rechargeable batteries are ideal replacements for the traditional nickel-cadmium rechargeable batteries in the solar lighting market because cadmium is a toxic heavy metal and is known to be damaging to the environment.

"We are delighted to have received an initial order from Costco, and are hopeful that this will lead to a new sales channel for our Company. Highpower is committed to developing and expanding long-lasting relationships with world-class customers such as Costco, which is a widely admired Fortune 100 company," commented Mr. Bryan Bai, Vice President of Sales at Highpower International. "This first trial order for solar light products is quite exciting because lighting is one of the key industrial applications for our products. We believe that larger retail and wholesale chains such as Costco will increasingly look towards selling environmentally friendly products to customers, and feel that this has lasting benefits to Highpower given our dedication to products that result in energy savings and pollution reduction. We believe that our green and environmentally friendly products will continue to experience increased demand."

About Highpower International, Inc.

Highpower International was founded in 2001 and produces high-quality Nickel-Metal Hydride (Ni-MH) and lithium-based rechargeable batteries used in a wide range of applications such as electric buses, bikes, energy storage systems, power tools, medical equipment, digital and electronic devices, personal care products, and lighting, etc. Highpower's target customers are Fortune 500 companies, and top 10 companies in each vertical segment. With advanced manufacturing facilities located in Shenzhen, Huizhou, and Ganzhou of China, Highpower is committed to clean technology, not only in the products it makes, but also in the processes of production. The majority of Highpower International's products are distributed to worldwide markets mainly in the United States, Europe, China and Southeast Asia.

Forward Looking Statements

This press release contains "forward-looking statements" within the meaning of the "safe-harbor" provisions of the Private Securities Litigation Reform Act of 1995 that are not historical facts. These statements can be identified by the use of forward-looking terminology such as "believe," "expect," "may," "will," "should," "project," "plan," "seek," "intend," or "anticipate" or the negative thereof or comparable terminology, and include discussions of strategy, and statements about industry trends and the Company's future performance, operations and products. Such statements involve known and unknown risks, uncertainties and other factors that could cause the Company's actual results to differ materially from the results expressed or implied by such statements. For a discussion of these and other risks and uncertainties see "Risk Factors" and "Management's Discussion and Analysis of Financial Condition and Results of Operations" in the Company's public filings with the SEC. Although the Company believes that the expectations reflected in such forward-looking statements are reasonable, there can be no assurance that such expectations will prove to be correct. The Company has no obligation to update the forward-looking information contained in this press release.

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