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Technology Stocks : AER Energy Resources (AERN) -- Ignore unavailable to you. Want to Upgrade?

To: Kenneth M Roberts who wrote (620)	4/24/2001 3:37:32 PM
From: Savant	Respond to of 621

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