SOURCE: Highpower International

May 10, 2011 07:00 ET

Highpower Receives Lithium-Ion Battery Systems Order for Electric Wheelchairs and Golf Carts

First Major Win for Iconergy Subsidiary

NEW YORK, NY and SHENZHEN, CHINA--(Marketwire - May 10, 2011) - Highpower International, Inc. (NASDAQ: HPJ), a developer, manufacturer and marketer of nickel-metal hydride (Ni-MH) and lithium-ion (Li-ion) batteries and related products, today announced that it has received an initial order for its lithium-ion battery systems through its newly established subsidiary Icon Energy System (Shenzhen) Co., Ltd. (Iconergy). The order has been placed by a French distributor for 400 units to be used for electric wheelchairs and 100 units used to be used for golf carts.

Iconergy, a wholly owned subsidiary, was formed by Highpower in February 2011 with the purpose of researching, designing, producing and marketing high capacity battery and power management systems targeting the emerging sectors of transportation, wind and solar, and high-level energy storage equipment.

"We are pleased to enter this new, higher-end market with a substantial order from an International distributor. One of our key growth initiatives has been to broaden our product offerings to penetrate emerging areas such as transportation where there is already an established need for cleaner batteries," said George Pan, Chief Executive Officer of Highpower International, Inc. "Highpower will continue to benefit from the trend of increased demands for clean batteries in industries traditionally held by toxic lead-acid batteries."

About Highpower International, Inc.

Highpower International, Inc. develops, manufactures and markets rechargeable nickel metal hydride (Ni-MH) and lithium-ion (Li-ion) batteries and related products for use in a variety of devices and equipment including wireless communications, electronics, lighting, backup power, electric tools, and transportation, etc. The majority of Highpower International's products are distributed worldwide to markets in the United States, Europe, China, Hong Kong, Taiwan, Southeast Asia and South America. For more information, visit

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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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