- Full Production resumed in all areas
- Resumption of shipments in June
- Ramp up to meet large order inflow
- Changeover to system iQP-2 planned for July
- New truck commercial battery with iQP-2 system planned for September production
Zug / Gwangju, South Korea, 15 June 2015 – iQ Power Licensing AG (ISIN: CH0268536338; WKN/Security Number: A14M1C; Symbol: IQL) a developer and marketer of technologies for environmentally friendly and technologically innovative starter batteries for motor vehicles and licenses in these technologies, announces the resumption of full production following a maintenance, repair and refurbishment of equipment.
The first container of batteries has already left the plant and daily deliveries will be starting in this month after an inventory build up phase of 10 days.
The plant is now hiring new workers to meet the large amount of orders already booked. Besides the key customer, Discover Energy, other customers are located in Asia and the Middle East. The mixing battery is especially valued in hot countries, in which batteries have less than half the lifetime as in Europe due to climate conditions. Discussions are also being held for new customers elsewhere, however due to higher demand than production capacity, deliveries to large new customers may be delayed until later in 2016. Keeping with company policy, exact sales revenue is only reported in the official financial reports.
Besides the orders now booked, many new orders will be coming into the plant in July for August delivery with the introduction of the iQP-2 design mixing parts to the production process. The first delivery of iQP-2 parts is expected in July when the parts design in the batteries is changed from iQP-1 to the new iQP-2 devices.
In September/October a very significant increase will begin with the introduction of the new truck commercial battery with electrolyte mixing system iQP-2 for the North American market. Following the introduction for North America, the truck commercial battery sizes for Asia and thereafter Europe will be introduced. At first the large batteries will be sourced at other supplier factories, however with the 2nd production line planned for 2016, all battery sizes will be able to be produced at the Gwangju factory.
The plant in Gwangju is a key location for iQ Power Licensing. All batteries produced by the company are using the iQ Power technology and are subject to license fees to iQ Power Licensing. The plant has a high-speed assembly line and a cost effective plate plant.