A strategic move that underscores AV Concept’s commitment to the rechargeable lithium-ion battery market, the company will leverage Boston-Power’s award-winning lithium-ion technology platform across a range of end applications.
Boston-Power is the first and only battery provider whose rechargeable lithium-ion battery cells have earned the prestigious Nordic Ecolabel accreditation. The company’s products have also earned a similar industry-first certification from the China Environmental United Certification Center (CEC).
The lithium-ion battery market was estimated to be over U.S. $8 billion worldwide in 2008 (Source: Market Avenue, Feb 2009). The market is expected to grow in double-digit percentages in coming years as green energy storage solutions like Boston-Power’s are required in high-growth markets, including renewable energy, such as solar and wind power, and Plug-In Hybrid and Battery Electric Vehicles (PHEV/BEV).
“Renewable energy and energy storage are both widely believed to be high-growth markets in China and across the globe,” said Mr. So Chi On, CEO of AV Concept. “Green energy storage solutions like Boston-Power’s are the key enabling technology for such applications. By combining Boston-Power’s award-winning technology with our proven distribution sales network and early investment in Wavesquare LED technology, we will have boosted capabilities to explore and engage with high-growth applications and business opportunities in the future and bring more fruitful returns to our shareholders.”
The advantages of Boston-Power’s technology over traditional lithium-ion batteries include:
* Long-Life: The world’s first battery to deliver like-new performance for more than three years, allowing portable power OEM partners to offer an industry-first three-year warranty.
* Fast Charge: Charges to 80% capacity in 30 minutes, over 50% faster than a traditional lithium-ion battery.
* Safety: Multiple, redundant safety features.
* Environmentally Accredited: Nordic and China Ecolabel certified.
Boston-Power’s battery technology supports environmental sustainability on multiple levels. The dramatic increase it brings in cumulative battery life and predictability greatly reduces the need for battery replacement, requiring less energy to be expended – and fewer raw materials to be consumed – in the manufacturing required to replace current-generation batteries.
The company also chooses environmentally responsible materials in both the development and manufacturing of the batteries and their packaging. In recognition of these facts, Boston-Power is the first and only provider whose rechargeable lithium-ion battery cells have earned the prestigious Nordic Ecolabel accreditation. The company’s products have also earned a similar industry-first certification from the China Environmental United Certification Center.
“Our mission at Boston-Power has always been to deliver a dependable, high-performance, environmentally sustainable and safe battery platform – one that could easily scale to a wide range of markets and applications,” said Dr. Christina Lampe-Önnerud, Founder and CEO, Boston-Power. “We’re excited that AV Concept shares that vision and will now be able to provide an industry-leading energy storage solution to its customers in Asia and across the globe.”
Dr. Lampe-Önnerud has an established track record of commitment to environmental sustainability, providing expertise on energy and environmental issues to governments and NGOs around the globe. While serving as top executive of Boston-Power, she has remained active in groups such as Club of Madrid, where she has lent her scientific expertise to combat climate change. Her work on this issue also includes participation in the Road to Copenhagen Conference 2009, held last December in Malmo, Sweden; the Technology and Finance in Climate Cooperation (CC8), held in June 2008 in Oslo, Norway; and the Road to Copenhagen Conference 2007 in Brussels, Belgium. Also last December, Boston-Power received a prestigious 2010 Technology Pioneer Award from the World Economic Forum (WEF) and Dr. Lampe Önnerud will be attending and presenting at the 2010 WEF Annual Meeting in Davos-Klosters, Switzerland from January 27-31.
AV Concept Holdings Limited is a dynamic and fast growing electronics group listed on the Hong Kong Stock Exchange. The Group’s businesses include marketing and distribution of electronic components; and the design, manufacture as well as sale of electronic products and niche medical products. Its wholly owned subsidiary – AV Concept Limited – is one of Asia’s leading electronic component distributors for Samsung Electronics and Fairchild Semiconductors. It is also a “One-stop Service Provider” with strong ability and intelligence in sourcing all kinds of application software designs and electronic components that match customer needs. Headquartered in Hong Kong with major sales offices in Shenzhen, Shanghai, Singapore, Malaysia, the Philippines, Indonesia and India, AV Concept Limited boasts a comprehensive distribution network and strong sales expertise in China and the South East Asia region.
Boston-Power, Inc. is an award-winning provider of next-generation lithium-ion battery technology. Designed to fuel a wide range of applications, its flagship offering, Sonata, serves as the foundation for HP’s new brand of longer lasting notebook batteries that also help the environment – the HP Long Life Battery. The company’s Swing product delivers unmatched capabilities for Plug-In Hybrid and Battery Electric Vehicles (PHEV/BEV) as well as the emerging utility energy storage market.
Founded in 2005 and with more than 100 patents filed, Boston-Power is led by Founder and CEO Dr. Christina Lampe-Önnerud, an internationally recognized innovator, entrepreneur and technology advisor with regard to portable power, energy storage and climate change. To date, the company has raised $125 million in venture funding from Foundation Asset Management, Oak Investment Partners, Venrock, GGV Capital and Gabriel Venture Partners. Boston-Power is headquartered in Westborough, Massachusetts, and has Six Sigma-level mass manufacturing operations in Asia.