Advanced Battery (OTCBB: ABAT) was recently awarded a $4.6 million contract fromWuxi Angell Autocycle Co., Ltd, a manufacturer of motorized vehicles for Chinese and overseas markets to produce battery sets. Mr. Zhiguo Fu, the company's CEO has stated, "We are extremely pleased to be providing these battery sets to Wuxi Angell for use in its products. This order continues to establish Advanced Battery as a maker of superior battery cells". The contract will perfectly fit the company's continuous efforts to enter new markets and will also improve the company's revenue outlook.
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About ABAT
Advanced Battery Technologies develops, manufactures, and distributes rechargeable PLI battery cells using lithium cobalt oxide anodes to overcome many of the shortcomings associated with other types of rechargeable batteries. ABAT develops PLI battery cells for use in electric vehicles, mine lamps, and consumer electronics, including cellular telephones, laptop computers, and digital cameras. ABAT maintains research and development, and manufacturing facilities in Harbin, China, and administrative offices in New York, New York.
