China Ritar's Batteries to Power the Brazilian Pavilion at the Shanghai 2010 World Expo
SHENZHEN, China, April 13 /PRNewswire-Asia-FirstCall/ -- China Ritar Power Corp. (Nasdaq: CRTP) ("China Ritar" or the "Company"), a leading Chinese manufacturer of innovative nano gel and environmentally friendly batteries, today announced that it has been selected to power the Brazil Pavilion at the World Expo 2010 in Shanghai. China Ritar will supply its Ritar(R) CL2300H batteries for use in two battery power storage plants which will be set up to ensure the Brazil Pavilion will have sufficient power during the World Expo.
"The use of our batteries in the Brazilian Pavilion's energy storage plant marks an important achievement for China Ritar as it demonstrates our batteries' are able to meet the strenuous technical performance required for use in energy storage plants. Our batteries are developed using advance technology and are able to provide up to 12 hours of continuous power supply at 80KVA power and 90% high power deep charging," said Jiada Hu, Chairman and CEO of China Ritar Power Corporation. "Moreover, energy storage plants are increasingly being used to balance daily energy demand and supply and we believe the introduction of our batteries for use in energy storage plants at the World Expo 2010 in Shanghai enhances our position in this rapidly developing market."
Battery energy storage plants store the excessive power generated by a network during the night for use during the day when power demand is at its peak. Energy storage plants are increasingly being built throughout the world in an effort to ensure a reliable source of energy, reduce system operating costs and reduce the environmental impact of power production. Environmentally friendly batteries such as the type of batteries China Ritar manufactures are the key architectural components in battery energy power storing plants.
About China Ritar Power Corporation
China Ritar Power Corporation (NASDAQ: CRTP) ("China Ritar") is the leading supplier of innovative nano gel and environmentally friendly battery products and solutions for power applications and power storing systems. China Ritar's products and solutions are used in Alternative Energy (solar and wind power), Telecommunications (3G), Uninterrupted Power Source (UPS) and Light Electrical Vehicles (LEV) industries. In 2009, China Ritar had sales of $98.6 million and currently employs about 1,800 people worldwide. Ritar (R) is a registered trademark of China Ritar in China and other countries. All product names are trademarks of China Ritar (including its subsidiaries).
Safe Harbor Statement
Safe Harbor Statement Under the Private Securities Litigation Reform Act of 1995: Certain statements in this press release and oral statements made by China Ritar on its conference call in relation to this release, constitute forward-looking statements for purposes of the safe harbor provisions under The Private Securities Litigation Reform Act of 1995. All statements, other than statements of historical facts, included herein are forward-looking statements. Although the Company believes that the expectations reflected in these forward-looking statements are reasonable, they do involve assumptions, risks and uncertainties, and these expectations may prove to be incorrect. You should not place undue reliance on these forward-looking statements, which speak only as of the date of this press release. The Company's actual results could differ materially from those anticipated in these forward-looking statements as a result of a variety of factors, including those discussed in the Company's periodic reports that are filed with and available from the Securities and Exchange Commission. All forward-looking statements attributable to the Company or persons acting on its behalf are expressly qualified in their entirety by these factors. Other than as required under the securities laws, the Company does not assume a duty to update these forward- looking statements.
For further information, please contact: Elite IR John Marco, Partner Tel: +1-310-819-2948 Email: [email protected] Leslie J. Richardson, Partner Tel: +852-3183-0283 Email: [email protected]
SOURCE China Ritar Power Corporation
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