Shenzhen Power Batteries Co Ltd, Contract Update - 22nd January 2015

Jan. 22, 2015 - PRLog -- Earlier this month Shenzhen Power Batteries was pleased to announce we had secured several design wins with large scale manufacturers which would assist us in not only progressing our product to the next level, but also introducing our proprietary technology to the industry at a stage whereby joint development would benefit all involved and allow for specific product development interactions.

Today, we are proud to announce that as of 20th January 2015 we have signed an exclusive contract with one of the largest Smartphone manufacturers in the Asia Pacific region. Based in Beijing our new development partner is looking to incorporate our technology at an R&D level at this stage as it appreciates that the technology itself is still not ready to be offered to the market.

The partnership will hand SPB access to a Smartphone manufacturer which sold over 61m units in 2014, a 227% increase over 2013 equating to pre-tax sales of nearly $12bn for 2014, a 132% increase over 2013. Obviously the benefits of such exposure to a company of this size and influence will enable SPB to drive forward with our core research and development, however it will also allow us to fully understand the size of the market and applications required of our product from within the industry, not just this specific Smartphone manufacturer and their market share.

This new contract brings resources to SPB and will increase our ability to prototype faster and extend out testing parameters which will see key development stages and requirements met over the next few months, substantially quickening SPB product development timeframes.

Currently, due to the processing of our listing and recent negotiations with financial institutions and Venture Capital firms, we are unable to provide in-depth details about the terms of the contract and who it is with.

We expect the partnership to open up a multitude of opportunities whilst protecting our intellectual property and registered patents and again we fully appreciate that partnerships like this are integral in meeting our own company objectives.

For more information on SPB and their technology please visit www.shenzhenpowerbatteries.com