SOURCE: Highpower International
SAN FRANCISCO, CA and SHENZHEN, CHINA--(Marketwired - Apr 28, 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's subsidiary, Icon Energy Systems, Ltd., has successfully developed its first series of commercial ready off-grid energy storage system (ESS) products, ranging from 0.5KWH to 15KWH.
"This is another substantial milestone for Highpower in expanding our product mix as we are methodically executing on our plan of evolving from solely a consumer electronics based battery company to a sophisticated large-scale battery application solution company. The industry demand for ESS products is widely expected to take off in the coming years and we believe this is a very valuable product offering for customers in the clean energy market," said Mr. George Pan, Chief Executive Officer and Chairman of Highpower International. "Icon Energy was created with a vision to provide clean energy solutions because clean renewable energy solutions are undoubtedly the future for our society. Highpower is well positioned to enter into the promising energy storage market and capitalize on this higher margin business, leveraging our extensive research and development expertise in various battery products over the past ten years."
Major countries around the world including the United States, Germany, U.K., Australia, Japan, Korea, and China, have all initiated favorable policies to promote the use of ESS products in developing the clean energy industry. The ESS market is expected to experience tremendous growth over the next few years. According to Navigant Research, the world micro grid market will increase from $4.3 billion in 2013 to $19.9 billion in 2020, using conservative estimates.
"Our ESS series is designed not only to appeal to the developed countries that are promoting clean energy initiatives but also to countries that lack sufficient electrical infrastructure. Our products can be adopted to a wide range of applications including commercial, residential, telecommunication, and disaster rescue, among others," commented Mr. Bryan Bai, Vice President of Sales at Highpower International. "There has been a strong demand for high-quality and commercially feasible ESS products. Our series of ESS products are designed to address this market need."
The series of ESS products, designed and developed by Highpower's subsidiary, Icon Energy, will serve the needs of commercial and residential power systems, solar power, back-up emergency power, and outdoor uses. Highpower's ESS products include power capacities of 0.5KWH, 1.5KWH, 3KWH, 5KWH, and 15KWH, coupled with dual charging input modes, i.e. city grid and solar power compatible. The output modes are flexible with AC, DC at varying voltages. The switch between charging and discharging is intelligently designed, and the switch time is only 5-8 milliseconds, generating no impact to electrical appliances connected. GPRS-enabled real-time wireless monitoring is also built in for remote management.
For additional information about our Energy Storage Systems, please visit:
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.