SAN FRANCISCO and SHENZHEN, China, Oct.
22, 2014 /PRNewswire/ -- Highpower International, Inc.
("Highpower International" or "the Company") (NASDAQ:
HPJ), a developer, manufacturer, and marketer of lithium and
nickel-metal hydride (Ni-MH) rechargeable batteries, and a battery
management systems and battery recycling provider, today announced
that the Company has successfully delivered an advanced electric
vehicle ("EV") battery system to the Harbin Institute of Technology
("HIT"). The EV battery system was installed on an electric race
car designed by HIT for Formula SAE China that was held in
Xiangyang, Hubei Province from
October 15th to October 18th, 2014.
Mr. George Pan, CEO of Highpower
International, stated, "This is the second time we delivered
complex EV battery systems to Harbin Institute of Technology for
their electric race cars for the Annual Formula SAE competition.
The Formula SAE China is a great forum to allow Highpower to
demonstrate its technical capabilities for designing EV battery
systems. Since earlier this year, we have already started shipping
electric bus batteries to our domestic customers. We will continue
to address the growing EV market in China and explore opportunities
worldwide."
Mr. Wenliang Li, CTO of Highpower
International, added, "Highpower's engineers designed a 7.3 KWh
battery system with Li(NiCoMn)O2 lithium polymer
batteries and a voltage at 400V for Harbin Institute of Technology.
Our power battery system can achieve active energy balancing and
has a real-time remote management system to track its working
status. Highpower will continue to dedicate its R&D resources
for the electric vehicle applications and we look forward to our
continued progress."
About Formula SAE
Formula SAE is an established educational motorsport
competition, hosted by the Society of Automotive Engineers (SAE).
The competition aims to inspire and develop enterprising and
innovative young engineers. Universities from across the globe are
challenged to design and build a single-seat racing car in order to
compete in static and dynamic events, which demonstrate their
understanding and test the performance of the vehicle. The format
of the event is such that it provides an ideal opportunity for the
students to demonstrate and improve their capabilities to deliver a
complex and integrated product in the demanding environment of a
motorsport competition.
About Highpower International, Inc.
Highpower International was founded in 2001 and produces
high-quality Nickel-Metal Hydride (Ni-MH) and lithium-based
rechargeable batteries used in a wide range of applications such as
electric buses, bikes, energy storage systems, power tools, medical
equipment, digital and electronic devices, personal care products,
and lighting. Highpower's target customers are Fortune 500
companies, and top 10 companies in each vertical segment. With
advanced manufacturing facilities located in Shenzhen, Huizhou, and Ganzhou of China, Highpower is committed to clean
technology, not only in the products it makes, but also in the
processes of production. The majority of Highpower International's
products are distributed to worldwide markets mainly in
the United States, Europe, China
and Southeast Asia.
Forward Looking Statements
This press release contains "forward-looking statements" within
the meaning of the "safe-harbor" provisions of the Private
Securities Litigation Reform Act of 1995 that are not
historical facts. These statements can be identified by the
use of forward-looking terminology such as "believe," "expect,"
"may," "will," "should," "project," "plan," "seek," "intend," or
"anticipate" or the negative thereof or comparable terminology, and
include discussions of the Company's future performance, operations
and products. Such statements involve known and unknown
risks, uncertainties and other factors that could cause the
Company's actual results to differ materially from the results
expressed or implied by such statements, including, our ability to
successfully expand sales of our lithium battery product in the
mobile device market and our ability to effectively compete in that
market. For a discussion of these and other risks and
uncertainties see "Risk Factors" and "Management's Discussion
and Analysis of Financial Condition and Results of Operations" in
the Company's public filings with the SEC. Although the
Company believes that the expectations reflected in such
forward-looking statements are reasonable, there can be no
assurance that such expectations will prove to be correct. The
Company has no obligation to update the forward-looking information
contained in this press release.
CONTACT:
Highpower International, Inc.
Sherry Chen
+86-755-8968-6521
ir@highpowertech.com
INVESTOR RELATIONS:
The Equity Group Inc.
In China
Katherine Yao, Associate
+86-10-6587-6435
kyao@equityny.com
In U.S.
Adam Prior, Senior Vice
President
(212) 836-9606
aprior@equityny.com
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SOURCE Highpower International, Inc.