Wow!!!!!!!!!!
ReDox Technology Corporation Completes Multimillion Dollar AgreementWith Applied Photonics Technology, Inc. (APT) to Manufacture High Performance Emergency Power Cells for APT's Advanced Electronic Outdoor Media Displays
March 11, 1999 12:48 PM
HOUSTON, March 11 /PRNewswire/ -- ReDox Technology Corporation RDOX of Houston, Texas announces an agreement with Applied Photonics Technology, Inc. (APT) of San Jose, California, to provide its proprietary aluminum-sulfur battery products for use in APT's large area outdoor electronic media displays. The combination of light weight, non- hazardous components, long shelf-life and high power density make ReDox products uniquely suitable for APT's requirements for standby and emergency operating power for its large area electronic displays. Since APT's products will be used for both safety messaging and data collection they must function reliably under extremely adverse conditions with minimal maintenance. These requirements cannot be satisfactorily met by other existing battery technology. Other electromechanical power sources, similarly, do not meet APT's stringent requirements for a simple, rugged backup power supply. The unique characteristics of ReDox batteries will allow them to be incorporated in each display module as a lifetime component.
Under this new multimillion dollar agreement, ReDox will provide APT with an estimated 5 million batteries over the next 5 years. It is expected that gross revenues to ReDox Technology Corporation, over the life of the Agreement, will exceed $100,000,000.00. Production of the batteries is targeted to commence in the first quarter of 2000.
ReDox Technology Corporation is a Research and Development organization specializing in energy technologies and related new product development, with expertise in technology, design, manufacturing and marketing.
APT is creating a large highly profitable media network business by utilizing proprietary field-emission "Coldpower(TM)" technology to enable the manufacturing of the most advanced electronic outdoor media display systems known.
"Coldpower(TM)" technology makes possible for the first time large-area electronic displays with unequaled quality, performance and low maintenance costs necessary to create a new dimension in advertising.
APT's large-area displays feature the unrivaled brightness and performance necessary for outdoor viewing in direct sunlight. Individual display system locations will share space and time among a wide variety of advertisers and information sources by linking display sites in local and national networks. "The advantages of the ReDox system over other existing energy storage technologies include environmental safety, superior performance and high cost- effectiveness. We feel that ReDox will be a significant addition to APT's other strategic international corporate relationships," stated Dr. Robert Young, Chief Technical Officer of APT.
This agreement is a direct result of the newly organized technology consortium approved by the ReDox Board of Directors in December of 1998.
SAFE HARBOR -- The Private Securities Litigation Reform Act of l995 provides a "safe harbor" for forward-looking statements. Certain information included in this Press Release (as well as information in oral statements or other written statements made by or to be made by ReDox Technology Corporation) contain statements that are forward-looking, such as statements relating to the future anticipated development activities, plans for future expansion, various activities, planned capital expenditures, future funding sources, anticipated sales growth and potential contracts. Such forward- looking information involves important risks and uncertainties that could significantly affect anticipated results in the future, and accordingly, such results may differ from those expressed in any forward-looking statements made by or on behalf of ReDox Technology Corporation. These risk and uncertainties include, but are not limited to, those relating to development and expansion activities, dependence on existing management, financing activities, domestic and global economic conditions, change in Federal or state laws and market competition factors.
SOURCE ReDox Technology Corporation
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