SOURCE: Vendum Batteries Inc.

Vendum Batteries Inc.

March 09, 2011 08:45 ET

Vendum Batteries Pursues EC Collaborative Funding

READING, UNITED KINGDOM--(Marketwire - March 9, 2011) - Vendum Batteries (OTCBB: VNDB), a battery technology development company, has announced it is to pursue a collaborative grant under the European Commission's FP7 policy.

FP7 relates to the European Commission's research policy. In July this year EC Commissioner Máire Geoghegan-Quinn announced an investment of nearly EUR 6.4 billion in research and innovation. Part of this funding is aimed at advancing scientific boundaries, increasing European competitiveness and helping to solve challenges such as climate change, energy and food security, health and an ageing population.

CEO Fraser Cottington comments, "The initiative involves 6-8 companies working together over a 3 year period to produce prototypes for a specified application. The result being, that by the end of that period, your company has formed an intrinsic part of that supply chain. This in itself presents a remarkable business opportunity."

Earlier this year Vendum announced the addition of Dr Bojan Boskovic as advisor to the board on the development of clean energy storage for a range of industrial applications, as well as consulting with investors. Dr. Boskovic also boasts a great deal of experience with FP7 funding.

"Demand for clean energy storage and other new materials will continue to grow," adds Fraser. "We have always believed that with the correct infrastructure, people and research facilities in place we stand a great chance of being awarded funding. With the additional bonus of in-house experience, our chances of success are that much greater."

About Vendum Batteries, Inc.
Vendum Batteries has a pending patent on a non-toxic, carbon-based light-weight battery. The paper-thin battery contains none of the toxic elements used in conventional batteries and its cutting edge carbon nanotube and cellulose-based technology makes it entirely biodegradable. The Vendum Battery will be developed from its current low power capacity, to soon accommodate the ever-increasing global demand for durable battery power for cell phones, iPods, human implants and eventually electrical vehicles etc. Americans purchase around 5 billion batteries, leaving 146,000 tons of battery waste behind, and given that the worldwide personal battery use is a growing $63 billion industry, the potential of this revolutionary non-toxic technology could be enormous.

Disclaimer -- Forward-Looking Statements
This press release contains "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, and such forward-looking statements are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. "Forward-looking statements" describe future expectations, plans, results, or strategies and are generally preceded by words such as "may," "future," "plan" or "planned," "will" or "should," "expected," "anticipates," "draft," "eventually" or "projected." You are cautioned that such statements are subject to a multitude of risks and uncertainties that could cause future circumstances, events, or results to differ materially from those projected in the forward-looking statements, including the risks that actual results may differ materially from those projected in the forward-looking statements; projected events in this press release may not occur due to unforeseen circumstances, various factors, and other risks identified in a company's annual report on Form 10-K and other filings made by such company.

For more information about Vendum Batteries Inc, please visit www.vendumbatteries.com.

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