ETV Motors is now ETV Energy Ltd; name change reflects intense focus on high-voltage batteries

Dec. 13, 2010 - PRLog -- ETV Motors Ltd. was formed in 2008 to develop new technology for the emerging electric vehicle industry.

Now the company has announced a change of name and a sharpening of its focus onto the high-voltage Lithium Manganese Spinel battery cell technology its scientists have been developing for EVs and hybrids and for selected niche applications.

"We decided to re-name the company ETV Energy,” explained CEO Dror Ben David. “The momentum generated through our R&D, and the strategic alignments we have begun putting in place have helped us see that the company’s name should refer unambiguously to our expertise.

"In the dynamic field of battery technology for electric vehicles, our focus is energy – to deliver more per unit of weight than any other company in the field. So the word energy needed to be in our name, and now it is.”

Mr Ben David referred to the challenges of getting to market quickly and of mitigating risk. “There is strong interest among industrial companies to become customers of our game-changing battery cell chemistry for specific applications. We demonstrated this by announcing our first contract just a few weeks ago – a $2 million transaction with a global aerospace company.

“As industry analysts keep pointing out, the business opportunity we are addressing is vast. To get there, we are communicating our single-minded determination to perfect our electro-chemistry and deliver it to the market as quickly as possible. The first HIGH5IVE (TM) cells will be delivered to our initial customers during 2011. We fully expect that the high-energy, high-power, high-voltage performance of our cells will shake up the industry.”

Mr Ben David added that the company’s microturbine-based ultra-clean battery-charging technology will be divested on terms that are currently under discussion. “Penetrating the automotive industry with an alternative combustion technology was always going to take some years. Separating the nearer and longer term opportunities was a necessity. Meanwhile, today’s announcement affirms that high-performance battery cell technology is what drives this company."

Effective immediately, the company has a new web address: www.etvenergy.com
All business activity is now conducted under the new name. There has been no change in the company’s management or ownership.

For further information

Arnold Roth, Chief Operating Officer - ETV Energy Ltd
news@etvenergy.com
Phone +972-9-951-7277
Toll-free from the United States: 1-888-875-5766

High5ive and the Electric Technology for Vehicles tagline are trademarks of ETV Energy Ltd.

# # #

About ETV Energy Ltd

Formerly called ETV Motors, the company was established in 2008. Backed by venture capital and currently in the midst of a Series B investment round, ETV develops advanced battery technology to address the global automotive industry’s tightening embrace of electric vehicles. ETV Energy’s scientists are focused on bringing to market a compact, energy-dense, power-dense battery. Gram for gram, its lithium-based cells deliver over 50% more energy than the best competing cells. Batteries built from these cells will be smaller and more affordable than other lithium-ion batteries.