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Advanced Battery Technologies, Inc. (ABAT) Signs Major Contract

Advanced Battery Technologies (“ABT”) is a Chinese company engaged in the development, manufacture, and distribution of advanced polymer lithium-ion (PLI) batteries. The company just signed its third major sales contract of 2008, valued at five million dollars.

ABT will supply its rechargeable PLI battery cells to the Quanzhou Hongtian Science & Technology Development Co. (QHSTD), an LED lamp and searchlight manufacturer. ABT’s cutting-edge cells will allow QHSTD to offer a brighter, longer-life handheld searchlight with an impressive illumination range of 1,000 meters (3,330 feet).

ABT’s CEO, Zhiguo Fu commented: “This contract of $5 million is our third major contract of 2008. In combination with the $23.4 million contract announced in January, the year 2008 is positioned to be another year of exceptional growth for our company.”

Mr. Fu’s postulation is hardly an overstatement, as the six year old company has been growing by leaps and bounds over the last few months. The month of May saw the appointment of a new CFO, and just a week ago, the company announced its admittance to the Russell 3000® Index, a performance-tracking index for the country’s 3000 largest companies. Like its leading-edge battery cells, Advanced Battery Technologies, Inc. certainly can hold a charge.

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