NEW YORK, Dec. 14, 2011 (GLOBE NEWSWIRE) -- Advanced Battery Technologies, Inc. (Pink Sheets:ABAT) ("ABAT"), a leading developer, manufacturer and distributor of rechargeable Polymer Lithium-Ion (PLI) batteries as well as a manufacturer of electric vehicles, today announced the grand opening of its new polymer lithium-ion battery production facility in Dongguan City, Guangdong Province, P. R. of China.
On December 10, 2011, Dongguan Qiang Qiang Amperex Tech. Co. Ltd, a wholly owned subsidiary of ABAT, opened the facility to the public with a grand ceremony. Officials from the central government as well as local Dongguan City government officials and guests witnessed this event.
Mr. Zhiguo Fu, the chairman of ABAT, addressed the more than 600 guests and expressed a warm welcome and appreciation for the good wishes and congratulations he had received for ABAT's achievements. He stated, "In this facility we will work to maintain the Company's dedication to quality and customer satisfaction, as we continue to expand our position in the competitive market."
The new Dongguan Qiang Qiang facility is the third battery manufacturing facility developed by ABAT in mainland China to meet the increasing demands of the Polymer Lithium-Ion (PLI) battery market. The Company's total investment in this new facility has been approximately $83.30 Million (US). The facility has an aggregate floor space of 50,000 square meters, including an R&D center of 5,000 square meters. The designed production capacity of this factory is 800,000 Ah daily.
The new Dongguan facility will be primarily used to manufacture small capacity batteries. ABAT's small capacity battery products are used in a broad range of electronic devices. ABAT also manufactures medium capacity batteries for use in larger electronic devices and large capacity batteries for use in electric vehicles.
About Advanced Battery Technologies, Inc.
Advanced Battery Technologies, Inc. (Pink Sheets:ABAT), founded in September 2002, develops, manufactures and distributes rechargeable Polymer Lithium-Ion (PLI) batteries. The Company's products include rechargeable PLI batteries for electric vehicles, motorcycles, mine-use lamps, notebook computers, walkie-talkies and other electronic devices. ABAT's batteries combine high-energy chemistry with state-of-the-art polymer technology to overcome many of the shortcomings associated with other types of rechargeable batteries. Early in 2009, the Company acquired Wuxi Angell Autocycle Co. Ltd., an electric vehicle manufacturer, and renamed it Wuxi Zhongqiang Autocycle Co., Ltd. ("Wuxi ZQ"). The Company has a New York office, with its executive offices and manufacturing facilities in China.
CONTACT: Rubenstein Investor Relations Tim Clemensen (212) 843-9337 TClemensen@RubensteinIR.com