AER Energy and Rayovac Sign Agreement to Develop Advanced Zinc-Air Batteries
/FROM PR NEWSWIRE ATLANTA 404-231-1814/
TO BUSINESS, ENERGY AND TECHNOLOGY EDITORS:
AER Energy and Rayovac Sign Agreement to Develop Advanced Zinc-Air Batteries
ATLANTA, April 24 /PRNewswire Interactive News Release/ --
AER Energy Resources, Inc. (OTC Bulletin Board: AERN) and Rayovac Corporation
(NYSE: ROV) today announced they have signed a License and Development
Agreement. Under the terms of the agreement, AER Energy is licensing its
zinc-air battery technology to Rayovac and performing design and development
work for Rayovac. Rayovac will own technology developed for it and AER Energy
will have certain rights to utilize that technology. Rayovac has also agreed
to purchase a small percentage of AER Energy common stock. The agreement is
expected to bolster AER Energy's cash position and fuel future growth and
product development efforts.
"AER Energy is extremely encouraged that the world's fastest growing
battery company has recognized our competencies and commitment to continued
zinc-air battery development and chosen us as a technology partner," said
David W. Dorheim, president and chief executive officer of AER Energy.
"Rayovac's expertise in zinc-air battery technology makes it an ideal partner
for us, and we look forward to working together to expand the commercial
applications for zinc-air batteries and develop leading-edge power solutions."
"Rayovac is continuously researching various battery chemistries in an
effort to provide more power and longer battery life for consumers and to
continue to bring innovative battery solutions to our customers," says Kent
Hussey, president and chief operating officer of Rayovac. "We look forward to
working with AER Energy to develop new zinc-air based products."
Rayovac is one of the world's leading battery and lighting device
companies and, according to A.C. Nielsen data, the fastest growing battery
manufacturer in the U.S. Rayovac markets the number one selling rechargeable
brand of battery and is the world leader in zinc-air hearing aid batteries.
For more information about Rayovac, visit its website at
rayovac.com .
AER Energy Resources, Inc. is engaged in the research and development of
high energy density zinc-air batteries that provide long, continuous runtime
for portable electronic products and in the licensing of its technology. Its
patented Diffusion Air Manager technology can provide zinc-air batteries with
long in-service storage life and potentially allows these batteries to serve a
variety of portable electronic devices.
AER Energy currently has 43 United States patents, including 14 covering
air managers and battery assemblies, 24 United States patents pending, 23
foreign patents and 55 foreign patent filings. For more information about AER
Energy, visit its website at aern.com .
AER Energy and the AER Energy logo are registered trademarks of AER Energy
Resources, Inc.
Note: This release contains statements which, to the extent that they are
not recitations of historical fact, may constitute "forward-looking
statements" within the meaning of applicable federal securities laws and are
based on current expectations and assumptions. These expectations and
assumptions are subject to a number of risks and uncertainties which could
cause actual results to differ materially from those anticipated, which
include, but are not limited to, the following: ability of the AER Energy and
Rayovac to achieve development goals, ability of AER Energy to commercialize
its battery technology, ability of AER Energy to license its technology,
ability of AER Energy to implement its strategy, development of competing
battery technologies, ability of AER Energy to protect its proprietary rights
to its technology, improvements in conventional battery technologies, demand
for and acceptance of AER Energy's and Rayovac's products in the marketplace,
AER Energy's ability to obtain commitments from battery manufacturers and
OEMs, impact of any future governmental regulations, impact of pricing or
material costs, ability of AER Energy to raise additional funds and other
factors affecting AER Energy's and Rayovac's businesses that are beyond their
control. All forward-looking statements contained in this release are
intended to be subject to the safe harbor protection provided by applicable
federal securities laws.
CONTACT: Jane Pinney or Frank Harris John Daggett
AER Energy Resources, Inc. Rayovac Corporation
Telephone - 770-433-2127 608-275-4912
E-mail - j_pinney@aern.com
MAKE YOUR OPINION COUNT - Click Here
tbutton.prnewswire.com
SOURCE AER Energy Resources, Inc.
/CONTACT: Jane Pinney, j_pinney@aern.com, or Frank Harris, both of AEREnergy
Resources, Inc., 770-433-2127; or John Daggett of Rayovac
Corporation,608-275-4912/
/Web site: rayovac.comhttp://www.aern.com /
Apr-24-2001 19:24 GMT
Symbols:
US;AERN US;ROV DE;ROV
Source PRN PR NewsWire |
