SOURCE: Rotoblock

August 05, 2009 08:00 ET

Rotoblock Signs MOU to Acquire Manufacturer of Battery Management Systems for Electric Vehicles in China

SANTA ROSA, CA--(Marketwire - August 5, 2009) - Signaling its intent to enter electric vehicle component manufacturing, technology developer Rotoblock Corp. (OTCBB: RTBC) has signed a Memorandum of Understanding (MOU) with a maker of Battery Management Systems and other hi-tech electronics in China.

Rotoblock has signed an MOU to acquire a privately-held enterprise in China developing battery management systems (BMS) to serve the growing potential in the electric vehicle market. The factory is located within a technology park near Beijing and employs 130 production workers, including research and development teams from Tsinghua University and Beijing University. The factory houses an automated production line and testing equipment with a capacity to produce a minimum of 1500 units per month with the ability to scale up.

"With China's commitment to be a leader in electric car technologies, we believe the timing is good to move into electric vehicles," said Rotoblock CEO Mr. Chien Chih Liu. "Our acquisition candidate has strong experience in electronics manufacturing, has filed a number of patents in BMS technology, and is well connected in the growing electric vehicle infrastructure emerging in China. The work they are doing to improve the performance of lithium battery systems is very impressive."

Earlier this year, the New York Times reported that China wants to raise its annual production capacity to 500,000 hybrid or all-electric cars and buses by the end of 2011, from 2,100 last year, citing government officials and Chinese auto executives. By comparison, CSM Worldwide, a consulting firm that does forecasts for automakers, predicts that Japan and South Korea together will be producing 1.1 million hybrid or all-electric light vehicles by then and North America will be making 267,000.

Battery management systems are becoming increasingly important in energy storage, electric transportation and other battery powered electronics. The field of electric transportation is showing strong potential with the opportunity to serve several different modes of electric transportation: trains, buses, cars, trucks, motorcycles, bicycles, scooters as well as industrial, utility and military vehicles. BMS technology helps increase the performance, safety, efficiency and reliability of battery-powered electronics. Modern electric car batteries use BMS as an integral part of its power delivery systems.

Rotoblock CEO Mr. Liu says the China company is developing several different battery management systems to accommodate a broad range of customers, from electric scooters, to electric cars, to electric buses and trains. All systems will meet or exceed CE and UL standards for consumer safety.

About Rotoblock Corporation -- Rotoblock is focused on the development and manufacturing of advanced technology, energy-efficient and environmental equipment in China for distribution worldwide. The Company was incorporated in Nevada and is headquartered in Santa Rosa, California. Visit Rotoblock's corporate website for details about the company, technology, and regulatory filings. For more info visit: http://www.rotoblock.com.

Safe Harbour For Forward-Looking Statements -- Except for statements of historical fact, the information presented herein constitutes forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Such forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of the company to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. Such factors include general economic and business conditions, the ability to acquire and develop specific projects, the ability to fund operations and changes in consumer and business consumption habits and other factors over which Rotoblock Corporation has little or no control.

Contact Information

  • Contact:
    Mariya Petrovksa
    Rotoblock
    707-578-5220