Monbat acquires licensing rights to advanced battery concepts bipolar lead battery technology
Financial
Sofia, December 20th 2018 Monbat is very pleased to announce that the group has acquired licensing rights to the full suite of GreenSeal® Bipolar Lead battery technologies of Advanced Battery Concepts.
Advanced Battery Concepts’ GreenSeal® technology drastically simplifies lead battery manufacturing and significantly improves lead battery performance by increasing cycle life, lowering weight, reducing recharge time, improving reliability and is fully recyclable. This improvement is achieved through reduction of lead-metal content by an average of 46% and more efficient working of the active materials through innovative patented design.
Atanas Bobokov, CEO & Chairman of the Board of Directors of Monbat says, “We very much look forward to working with Advanced Battery Concepts. We have seen the competitive advantages GreenSeal® technology offers to us as a Lead battery manufacturer and to our customers and we envisage many potential applications that will allow us to strengthen and further develop our market presence worldwide”.
Dr. Ed Shaffer, CEO and Founder of Advanced Battery Concepts comments, “Monbat has demonstrated vision and determination in our discussions. Monbat’s commitment to GreenSeal® technology is very exciting and their plans for GreenSeal® technology rollout to their products and markets is very vigorous. We are very happy to have Monbat as a partner”.
About Advanced Battery Concepts, LLC
Advanced Battery Concepts LLC is a global battery technology development company based in Michigan, USA, and is the first company to successfully design a bipolar lead acid battery and develop and implement a commercially viable manufacturing process for such batteries. Advanced Battery Concepts is currently working with existing lead acid battery producers and engaging licensees to realize the commercial potential of its technology, as well as on-going production of batteries and additional research from its Battery Research & Engineering Development Centre in Michigan to broaden its technology portfolio.
About Monbat Group
As one of the leading European batteries’ producers, the economic group operates under two main business segments – Lead-Acid batteries and Li-Ion high-power solutions. The lead-acid business is a vertically integrated business model with operating production and recycling facilities in Bulgaria (Monbat AD and Start AD) and recycling plants in Romania, Serbia and Italy. This structure insulates the group from raw material price volatility and enables it to achieve higher operating margins compared to peers. With worldwide presence in over 60 countries and more than 20 different applications and industries, Monbat is among the strongest economic groups in the CEE region.
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