LAKE ELSINORE, CA--(Marketwired - May 7, 2014) - IDS Industries, Inc. (OTCQB: IDST) announced today that its wholly-owned subsidiary, Charge! Energy Storage, Inc. (Charge!) has entered into a contract manufacturing and marketing agreement with Ultralife Corporation (NASDAQ: ULBI) for the Charge! Energy branded line of portable and stationary power systems.
Charge! Energy's initial marketing will highlight the leading technology and design quality provided by Ultralife by focusing on audiences that will appreciate the superior product. This targeting is exemplified by those sensitive to the need and demands of Emergency and Disaster Preparedness, as well as niche markets and consumers that range from indoor agriculture to innovative businesses and ventures.
Charge! Energy Storage will market their Lithium-iron phosphate portable power line targeting those needing an off-grid and "lower total cost of ownership" solution when compared to fuel-run generators. Charge! Energy Storage will offer indoor and outdoor agricultural based businesses a suite of products from 1.25 kWh FEMA-reviewed Portable Power Solutions to 30 kWh units manufactured by Ultralife, which will allow users access to off- grid power when utilized with a renewable energy solution such as wind or solar. Depending on power consumption, the systems can reduce grid reliance or fuel consumption of a traditional generator, or operate as a stand-alone power source when recharged through renewable energy.
Mr. Scott Plantinga, Charge! Energy Storage President and Chief Executive Officer, commented, "Ultralife is renowned for a strong track record of manufacturing high quality batteries and power systems. Much of our business model is focused on markets with robust demands for professional requirements. Similar to our in-house designed products which are required to be built to endure rugged environments, systems built by Ultralife for Charge! are cut from the same cloth. They are 'FEMA reviewed'; with very complimentary recommendations stating these units are the 'tool of choice' for Disaster Relief environments." Mr. Plantinga explained, "With heavy grid usage inherent in certain agricultural environments, Charge! believes our suite of products manufactured by Ultralife built to our specifications will provide a very attractive return on investment and greatly reduce the need for fossil fuel generators in more remote environments. These units align perfectly with the Charge! product vision and go-to-market strategy and are now available through Charge! Energy Storage, www.ChargeEnergyStorage.com." Ultralife manufacturing Portable Power Solutions for Charge! Energy Storage is a great fit for our company. We look forward to working with them."
Ultralife is pleased to form this partnership as well. "Charge! Energy Storage has developed channels to distribute and cater to the Emergency and Disaster Preparedness market and to several niche user communities and industries. With our experience in manufacturing for these industries it is synergistic and a perfect fit, and we anticipate positive results for both companies," said Steve Szamocki, EVP of Global Sales at Ultralife.
About IDS Industries, Inc.
IDS Industries, Inc., a diversified holding company, is focused on creating superior long-term returns for shareholders through a unique structure of diversified public and non-public holdings. Today, IDS is made up of two principal subsidiaries:
Charge! Energy Storage is a designer and developer of GIIRS-rated energy storage devices for residential, commercial, and light industrial markets and products that deliver clean stationary and portable electrical energy. The Company's residential & commercial products are large scale products that have characteristics applicable to their usage. Charge! has made a broad reaching commitment to create reliable and affordable hi-tech energy storage systems for all commercial and residential applications. The Company's proprietary integrated Battery Management and Charge Controller System (BMCCS) optimizes advanced lithium chemistry functions improving battery performance and extending battery life.
Propel Management Group (PMG) provides a full range of program management, acquisition, and lifecycle support services to its customers. PMG is at the forefront of integrating acquisition, logistics, engineering, and technology disciplines into a comprehensive lifecycle management approach. PMG continually strives to improve the process of developing, procuring, and sustaining its customers' systems to achieve their overarching goals of transformation, consolidation, and efficiency. Its Direct-to-Consumer business delivers comprehensive call center and online marketing solutions to brands seeking maximum reach and return on investment (ROI).
About Ultralife Corporation, Inc.
Ultralife Corporation serves its markets with products and services ranging from portable power solutions to communications and electronics systems. Through its engineering and collaborative approach to problem solving, Ultralife serves government, defense and commercial customers across the globe. Headquartered in Newark, New York, the company's business segments include Battery & Energy Products and Communications Systems. Ultralife has operations in North America, Europe and Asia. For more information, visit www.ultralifecorp.com.
Forward-looking & Safe Harbor Statement
Certain statements in this news release may contain forward-looking information within the meaning of Rule 175 under the Securities Act of 1933 and Rule 3b-6 under the Securities Exchange Act of 1934, and those statements are subject to the safe harbor created by those rules. All statements, other than statements of fact, included in this release, including, without limitation, statements regarding potential future plans and objectives of the Company, are forward-looking statements that involve risks and uncertainties. There can be no assurance that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements. The Company cautions that these forward-looking statements are further qualified by other factors. The Company undertakes no obligation to publicly update or revise any statements in this release, whether as a result of new information, future events or otherwise.