DGAP-Adhoc: iQ Power AG announces latest developments
iQ Power AG / Key word(s): Miscellaneous
22.07.2013 14:58
Dissemination of an Ad hoc announcement according to § 15 WpHG, transmitted
by DGAP - a company of EQS Group AG.
The issuer is solely responsible for the content of this announcement.
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iQ Power AG announces latest developments
- Start of commercial orders in North America
- Sub-License officially granted to iQ Power AG for Asia
- Re-start of Korean Licensee nearing
- Tooling for 2nd Generation plastic parts started
- Capital Increase by end of August
Zug/Switzerland, 22 July 2013 - iQ Power AG (ISIN: CH0020609688, German
Securities Code Number (WKN): A0DQVL; ISIN: CH0199540599 / German
Securities Code Number (WKN): A1J7TW), a developer and marketer of
technologies for environmentally friendly and technologically leading
starter batteries for motor vehicles and licences in these technologies,
provides a status report on its ongoing 2013 operations.
The Licensee, Smart Battery Inc., NYC. NY., USA, has started the first
deliveries of the batteries with iQ Power technology. According to company
sources, the first deliveries take place this week to dealers in the
network of Battery Energy, one of the largest battery distribution groups
in North America. At the beginning, the deliveries will be limited to the 2
most popular North American battery sizes, but in the following timeframe
all types for a full product program will be available. Management
confirmed their sales forecast for the rest of 2013 of over 250.000 units.
Further information can be found under
http://www.marketwire.com/press-release/ecovolt-power-announces-first-comm
ercial-shipment-its-advanced-ecosmart-lead-acid-batteries-1812918.htm.
The Board of Directors of iQ Power Asia has on the 19th of July officially
granted a Sub-License for the up until now exclusive territory of Asia. The
Sub-License will allow Discover Energy Limited (DEIL), Hong Kong, to be
able to market batteries with the iQ Power Technology throughout Asia. DEIL
will source the batteries from a long-time, high capacity battery supplier
plant as well as iQ Power Asia. The battery supplier can fulfil all orders
should iQ Power Asia not be able to meet the capacity demands of DEIL on
time. DEIL has a license agreement in place with iQ Power AG at the same
conditions as with other Licensees. DEIL has already orders from 3 new
large customers. Further new orders as well as orders from existing
customers are expected soon. The sales can take place as soon as the new iQ
Power 2nd Generation plastic parts are available, which should be at the
end of September. As part of the agreement, iQ Power Asia is allowed to
market the batteries directly in Europe.
The re-start of the iQ Power Asia facility has been unclear since late
2012. New developments point to an agreement in August, which would allow a
normalization of production and sales in October. The first steps for
normalization should begin in the next couple of weeks.
The production of tooling for the important iQ Power plastic parts has
started as planned. The delivery of parts should begin by the end of
September. Tooling tests and production release for all European (DIN) and
Asian (JIS) passenger car sizes should be finished in September. The unique
inorganic Product marking material has passed its first tests successfully.
As earlier announced, the next part of the Capital Increase from early 2013
should be accomplished by the 2 largest shareholders at the end of August.
The Board of Directors
About iQ POWER
iQ Power develops and markets technologies for new types of starter
battery. At the heart of this technology are the world's first starter
batteries to feature more efficient automated electrolyte mixing with
passive elements - a patent of iQ Power.
For iQ Power's licensees, the new generation of starter batteries offers
significant advantages in terms of increased customer benefit, higher
product reliability and life cycle stability, a longer useful life and
improved environmental and resource protection. In 2010, this ecological
innovation won iQ Power the prestigious Automechanika Innovation Award for
outstanding product innovation.
As a stock corporation, iQ POWER AG is a listed company. The company's
securities are traded on the regulated market (General Standard) of the
German Stock Exchange in Frankfurt, over the counter on the stock exchanges
in Berlin, Düsseldorf, Munich and Stuttgart as well as via XETRA (ISIN:
CH0020609688, German Securities Code Number (WKN): A0DQVL, IQPB).
Contact:
Company Contact:
iQ Power AG
Metallstrasse 9
6304 Zug
Schweiz
Tel.: +41(0) 41 768 03 63
Fax: +41(0) 41 768 03 68
info@iqpower.comwww.iqpower.com
Investor Relations Contact:
GFEI Aktiengesellschaft
Am Hauptbahnhof 6
60329 Frankfurt am Main
Tel.: +49 (0)69 - 74 30 37 00
Fax: +49 (0)69 - 74 30 37 22
iQPower@gfei.dewww.gfei.de
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Language: English
Company: iQ Power AG
Metallstrasse 9
6304 Zug
Switzerland
Phone: +41 41 7680360
Fax: +41 41 768 03 68
E-mail: investor-relations@iqpower.com
Internet: www.iqpower.com
ISIN: CH0020609688
WKN: A0DQVL
Listed: Regulierter Markt in Frankfurt (General Standard);
Freiverkehr in Berlin, Düsseldorf, München, Stuttgart
End of Announcement DGAP News-Service
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