Independent Testing Confirms Power Technology Batteries Are More Powerful
Business & Automotive Editors
LAS VEGAS, Nev.--(BUSINESS WIRE)--March 8, 2001--Power Technology,
Inc. (OTCBB:PWTC) announced today they have received verification from
an independent testing laboratory that the advanced chemistry battery
paste provided by Bipolar Power International, Inc. (Bipolar)
significantly improves the performance of sealed lead-acid batteries.
Test results show significant improvement in battery energy,
capacity and life and were performed in order to confirm the validity
of Bipolar's proprietary paste technology.
"Power Technology believes that the combination of our recently
patented `foam grid' technology for batteries and Bipolar's
proprietary paste and battery configuration will revolutionize the
sealed lead-acid battery industry," said Lee Balak, President of Power
Technology, Inc. "Power Technology and Bipolar have commenced building
batteries for industry evaluation and potential orders of interest.
These batteries will be delivered by the end of March 2001."
Power Technology is currently in negotiations to acquire Bipolar,
who's assets include twenty-two patents for advanced sealed lead-acid
battery technology. These patents cover both a proprietary bipolar
battery configuration and the advanced chemistry paste. This battery
technology originated at the Jet Propulsion Laboratory and the
California Institute of Technology in the mid-1980's. Bipolar acquired
the technology from JPL and Cal Tech in 1989 and has subsequently
spent $10,000,000 to complete its development. Bipolar also maintains
an 8,000 square foot laboratory in Whittier, California with 176
state-of-the-art battery testing stations. Power Technology is
finalizing their due diligence on Bipolar and anticipates acquiring
the company in the near future.
Power Technology, Inc is a Las Vegas-based technology development
company, which holds several patents in the power generation and power
storage fields, and is working to provide innovative and practical
battery technology solutions for commercial, government, and
industrial applications worldwide.
For additional information, please contact Power Technology, Inc.
Investor Relations: 1-800-773-7317
Note: Any statements released by Power Technology, Inc. that are
forward-looking are made pursuant to the safe harbor provisions of the
Private Securities Litigation Reform Act of 1995. Editors and
investors are cautioned that forward-looking statements invoke risk
and uncertainties that may affect the Company's business prospects and
performances. These include economic, competitive, governmental,
technological and other factors discussed in the statements and in the
Company's filings with the Securities and Exchange Commission.
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--30--jsw/clv*
CONTACT: Power Technology, Inc.
Investor Relations, 800/773-7317
KEYWORD: NEVADA
INDUSTRY KEYWORD: AUTOMOTIVE
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