ADVANCED BATTERY CONCEPTS AND EXIDE INDUSTRIES LIMITED ANNOUNCE COMMERCIALIZATION PLAN

CLARE, Mich. & KOLKATA, India, Nov. 17, 2022 /PRNewswire/ -- Advanced Battery Concepts, LLC (ABC) and Exide Industries Limited, an Indian corporation, announced their mutual intent to develop a commercial plan to manufacture and sell ABC's Box-BE™ Battery Energy Storage Systems in the Indian marketplace.

Both parties have agreed to "scope-out and define a program for jointly commercializing the energy storage products in India". Under this non-binding letter of intent, ABC and Exide will jointly work together to determine and explore the business opportunities, applications and addressable markets exist in India for the Energy Storage System containing the proprietary bipolar storage batteries invented by Advanced Battery Concepts. To that end, they will agree on the design of a commercial EverGreenSeal™ battery and the appropriate testing of the resulting product or products. Based on successful testing of the battery design and favorable market indicators for investing and producing the products, further steps will emerge as a result of this initial effort.

ABC pioneered new lead battery manufacturing technologies and proprietary bipolar architecture to offer energy storage solutions with superior economics compared to lithium-ion, traditional lead batteries and other rival technologies. The company's years of battery developments and successful innovation has led to the invention of EverGreenSeal™ --their breakthrough battery technology which is supported by a broad portfolio of patents and trade secrets.

This is a battery designed from the inside-out with "End-Of-Life re-manufacturability" as a leading objective within the design and construction of the new EverGreenSeal batteries. This extraordinary battery, after a long service life, is deconstructed, the primary materials collected and using novel processes, the active materials are efficiently recycled and built into a new EverGreenSeal battery, with full warranty and service life. ABC has recently launched the Box-BE™ ESS product line in the U.S. – the first system to take advantage of the numerous benefits of EverGreenSeal technology.

The numerous economic, environmental and sustainability advantages of EverGreenSeal battery technology figured prominently in Exide Industry's interest in exploring manufacturing and marketing within their Indian marketplace. Both companies have many years of mutual cooperation and look forward to working together on this next commercial opportunity.

Advanced Battery Concepts manufactures and sells the most economically, socially, and environmentally responsible energy storage solutions available today. The business focuses on residential and long duration energy storage systems, built on a foundation of proprietary technology termed EverGreenSeal™ Technology. ABC's energy storage provides longest life, lowest installation costs, truly safe operation and a 100% evergreen recycling process. 

Better Batteries, Better World® https://advancedbatteryconcepts.com

SOURCE Advanced Battery Concepts

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