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Merger of iQ Power Licensing AG into green technology company in USA

 

  • Board of Directors approve offer for merger with green technology company Engenavis in USA
  • Investment of minimum USD 17 million into iQ Power Licensing for new business initatives at EUR 0,07 / share
  • USA company, Engenavis Inc., headed by Wall Street star investor George Weiss
  • Merged new company will be named iQ POWER Inc.
  • Listing on Frankfurt General Standard and NASDQ planned
  • Complete merger into USA company planned at EUR 0,108 / share equivalent
  • Deal contingent on voluntary share exchange, shareholder approval and due diligence

Zug, Switzerland, 04 April 2018 – 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 Board of Directors approve offer for merger with a green technology company in USA.

The merger partner is Engenavis Inc., Delaware, USA. Engenavis (ENG) is headed by star investor, George Weiss. The company features several start-up business units centering around environmentally-friendly technologies, including anti-idling fuel savings technology or mobile solar energy units. The technology section for no emission waste and used tyre recycling Toterra will be a subsidiary and a legally separate business unit.

The company has committed investment from a Wall Street institutional investor for USD 35 million or more, of which USD 17 million or more will be directly invested into iQ Power Licensing AG (IQP) for business expansion. The expansion plans shall be detailed in a separate report. The investment from the Wall Street institutional investor was based on a post-investment and post-merger valuation for Engenavis  of an estimated USD 120 million. iQ Power Licensing will be merged at a value of 38% of the new company, which will equal EUR 0,108 per share post-dilution.

Shareholders of IQP stock will be requested to sign share exchange agreements in advance of the upcoming extraordinary Shareholders’ Meeting (ESM) in late April. The exchange agreements will only go into effect at completion of the entire transaction. A 2/3 majority of ESM attendees and proxies will be required to approve creation of up to 260 million shares of share capital at EUR 0,07/share for the transaction. The transaction will take place as a private placement, limited to 10 subscribers including Engenavis, whereas Engenavis will take at least 200 million shares.

Following the transaction, the new company iQ POWER Inc. will apply to be listed as soon as possible in 2018 on the OTC in the USA and/or an OTC in Germany.  The listing on the Frankfurt General Standard and also on the NASDAQ exchange in the USA is planned for 2019. A possible listing in Singapore is being considered.

The shares of iQP will be de-listed around the same time as the new listing for iQ POWER Inc. comes into force. Shares not exchanged will continue to be valid, but cannot be traded on a public stock exchange thereafter. Following exchange of 90% of the old iQP shares into iQ POWER Inc., a 100% merger will be enacted.

In the next 60 days both companies will engage in a detailed examination, known as Due Diligence, of the other company. Following satisfactory conclusion of the Due Diligence and share exchange and shareholder approval, the agreement will be binding on all parties. In order to understrike the sincerity of the agreement, a USD 300.000 break-up fee for both parties has been agreed.

Bob Sullivan, CEO of iQ Power Licensing, states, “this is a once-in-a-lifetime opportunity for iQP and its shareholders. The bundling of new business opportunities and the enabling of new business drivers by a large investment will create a company that is an attractive investment vehicle for large international institutional investors. Having a broad and experienced management team and a well-known executive with a sterling track record for creating shareholder value will ensure the success of the merged company.”
 

About the iQ Power Technology
Batteries with iQ Power technology are designed to generate better performance in Start-Stop applications and to meet the growing demands of electronic usage in vehicles today. It is the first significant innovation to the flooded starter battery in decades. Automatic mixing of electrolyte inside the battery by passive mixing elements ensures uniform acid density for higher sustained performance throughout the entire life of the battery, thus avoiding early loss of capacity (Ah) as usual with ordinary batteries. This prolongs plate life by eliminating acid stratification and thermal gradients, delivering greater material utilization for a lower cost per cycle over conventional batteries. The patented technology was awarded the coveted Automechanika innovation award 1st prize in 2010 and und became a first prize winner of the GreenTec Awards in 2017. – More under: www.iqpower.com/en

CEO unveils Next Generation Battery Factory at AABC Conference

 

  • Presentation of revolutionary concept factory at the prestigious Advanced Automotive Battery Conference AABC in Mainz, Germany
  • Production time reduced by over 60% and energy savings of over 25% with batteries lasting up to 4 times longer at over 10% reduced costs using German technology
  • First factory to be operational in 2019  (GIL Battery, Middle East)
  • Market growth of flooded lead acid batteries confirms need for the iQ technology and advanced new battery plants

 

Zug, Switzerland, 2 February 2018 – 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 technology behind the next generation battery factory.

At the prestigious Advanced Automotive Battery Conference AABC in Mainz, Germany, the next generation of battery factories which has been conceived by CEO Bob Sullivan of IQ Power Licensing AG together with German battery scientists was presented to an international audience consisting of the top experts for lead-acid battery technology.

iQ Power Licensing has been working on this technology concept for over a year in preparation for a new combined battery production and recycling factory to be operational in 2019 for an iQ Power client. In 2017, iQ Power created a new battery factory consulting services division, which is now in the final stages of approval for the first battery factory to be installed using iQ Power´s next generation concept.

The new factory will integrate numerous advanced new technologies and processes under one roof, amongst others, the combined technologies of iQ Power Licensing and the LEIT magnet technology to produce starter batteries capable of up to 4 times higher cycle life than normal starter batteries. In addition, some specially designed equipment and processes for curing and formation will reduce the production time by two thirds from 72 hours to less than 24 hours, while at the same time dramatically improving battery performance and reliability. The shorter curing and formation times will lead to an overall savings of 25% or more in energy.

Through the integration of the recycling to the battery production under one roof, it will be possible to go directly from the refining kettle to the casting machines and oxide mills without producing ingots, which must be transported and re-melted. This will save inventory, handling costs and freight costs compared to the conventional recycling and battery production methodology.

The new plant will be fully computerized using industry 4.0 technologies. Due to the high level of automation and intelligent communication, the factory requires less than half of the usually needed personnel.

In the coming years worldwide, the need for new battery manufacturing capacity, as well as new technology for modernizing existing plants will be significant. According to figures presented by industry experts at the AABC conference in Mainz, the market for lead-acid batteries will grow by around 40% over the next eight years, despite anticipated large growth in Li-Ion powered vehicles. During this time, production capacities with a volume of around 150 million units p.a. must be added and the market will grow from about 350 million units in 2017 to around 500 million units in 2025. The strong growth of the entire market comes mainly from emerging markets and strong growing Asian economies.

In the time until 2025, conventional lead-acid batteries sales will go down in volume in developed countries but increase rapidly in the warmer areas of the world such as Asia and northern Africa and the Middle East. In these countries, the cycle life of the battery is a major purchase criteria. The new EFB type battery quantities will grow by more than 500% in this time period, however from a comparatively still moderate level.

This significant growth trend in both conventional batteries in warmer areas and EFB batteries underscores the positive future for the iQ Power technology of passive electrolyte mixing.

 

About the iQ Power Technology
Batteries with iQ Power technology are designed to generate better performance in Start-Stop applications and to meet the growing demands of electronic usage in vehicles today. It is the first significant innovation to the flooded starter battery in decades. Automatic mixing of electrolyte inside the battery by passive mixing elements ensures uniform acid density for higher sustained performance throughout the entire life of the battery, thus avoiding early loss of capacity (Ah) as usual with ordinary batteries. This prolongs plate life by eliminating acid stratification and thermal gradients, delivering greater material utilization for a lower cost per cycle over conventional batteries. The patented technology was awarded the coveted Automechanika innovation award 1st prize in 2010 and und became a first prize winner of the GreenTec Awards in 2017. – More under: www.iqpower.com/en

Cooperation for revolutionary new battery performance technology announced

 

  • Cooperation with the LEIT magnetic antenna technology, a new Bulgarian battery technology innovation
  • In combination with the iQ Power technology LEIT can extend cycle numbers of flooded batteries up to 4 times of normal
  • New technology is supported by the Academy of Sciences, Sofia

Zug, Switzerland, 29 January 2018  –  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 cooperation with the Bulgarian developer of a new lead acid battery performance technology.

At the prestigious Adavanced Automotive Battery Conference in Mainz, Germany, beginning this Monday 29th of January, the remarkable effects of the combined technologies of LEIT and the iQ Power passive electrolyte mixing are presented to an international audience by Dr. Boris Shirov (LEIT) and Bob Sullivan (iQ Power Licensing) in a combined presentation.

LEIT stands for `Low Electrical Impulse Technology´. This technology uses a specially programmed signal in a magnetic field to change the crystal structure of the lead oxide (battery active material).  The improved crystal structure enhances conductivity and results in better battery performance in low temperatures and a longer cycle life.

iQ Power Licensing has been working with and testing this technology for over a year at its Chemnitz laboratory. Internal tests have documented the complementary effects of passive electrolyte mixing with the magnet field signal. In general, a four times better cycle performance has been observed. This combination will mean that conventional lead acid batteries performance can be dramatically improved without special expensive techniques.

 

About the iQ Power Technology
Batteries with iQ Power technology are designed to generate better performance in Start-Stop applications and to meet the growing demands of electronic usage in vehicles today. It is the first significant innovation to the flooded starter battery in decades. Automatic mixing of electrolyte inside the battery by passive mixing elements ensures uniform acid density for higher sustained performance throughout the entire life of the battery, thus avoiding early loss of capacity (Ah) as usual with ordinary batteries. This prolongs plate life by eliminating acid stratification and thermal gradients, delivering greater material utilization for a lower cost per cycle over conventional batteries. The patented technology was awarded the coveted Automechanika innovation award 1st prize in 2010 and und became a first prize winner of the GreenTec Awards in 2017. – More under: www.iqpower.com/en

New Battery Factory and iQ Power technology licensee in the Middle East

 

  • Agreement reached for an iQ Power technology license and the consultancy and project management for new leading edge automotive battery factory
  • Integrated battery production and recycling plant with industrial company in the Middle East

Zug, Switzerland, 23 January 2018 – 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 an important development of interest to investors.

An agreement was reached with an experienced, privately-owned industrial company in the Middle East for an iQ Power technology license and consultancy for a new leading edge automotive battery factory. The agreement was reached already in late Dezember but announcement was held back due to uncertainty with local authorites. This uncertainty has been resolved today.

Construction of the new plant is already underway at the future factory location with building completion scheduled for the 2nd half 2018 and start of production in 2019.

The agreement, which is valid now, but can be rescinded if conditions dictated in the contract are not fulfilled, including the final approval of the iQ Power Licensing AG Board of Directors. Fulfillment of all conditions should be completed in March or April 2018, at which time, more details regarding the project will be released.

The agreement encompasses consulting and project management for the equipment and operation of an integrated leading edge lead-acid battery production including a recycling factory for used lead-acid batteries. After completion in 2019, the factory will be the most modern and most environmentally-friendly factory of its kind in the world. Several new technologies will be introduced for the first time, as well as many enhancements to state-of-the-art manufacturing methods.

Cornerstone of the battery factory will be the award-winning revolutionary iQ Power passive 360° electrolyte mixing technology, which has been proven to double the cycle life of flooded lead-acid starter batteries. The factory will provide advanced lead acid batteries for both passenger car and commercial vehicles. The factory is scheduled to produce 2 million batteries per year with expansion at a later date.

Environmental and economical savings will be achieved through the close integration of the lead-acid battery production under the same roof as the used lead acid battery recycling. The lead acid recycling factory will have a capacity for 30’000 metric tons of high quality lead per year. 

 

About the iQ Power Technology
Batteries with iQ Power technology are designed to generate better performance in Start-Stop applications and to meet the growing demands of electronic usage in vehicles today. It is the first significant innovation to the flooded starter battery in decades. Automatic mixing of electrolyte inside the battery by passive mixing elements ensures uniform acid density for higher sustained performance throughout the entire life of the battery, thus avoiding early loss of capacity (Ah) as usual with ordinary batteries. This prolongs plate life by eliminating acid stratification and thermal gradients, delivering greater material utilization for a lower cost per cycle over conventional batteries. The patented technology was awarded the coveted Automechanika innovation award 1st prize in 2010 and und became a first prize winner of the GreenTec Awards in 2017. – More under: www.iqpower.com/en

Japan awards iQ Power Licensing patent protection for its iQP-2 technology of passive electrolyte mixing for flooded batteries

 

  • Japan after China one of the most critical countries for granting patent protection
  • Patent applications for the iQ Power mixing technology continue at a 100% acceptance rate with national patent offices
  • Patent protection was granted in China and Russia for the iQ Power iQP-2 technology just a few months ago

 

Zug, Switzerland, 6 December 2017  –  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 patent protection for the new generation IQP-2 of its passive electrolyte mixing technology for flooded batteries by the Intellectual Property Office of Japan.

The patent protection now granted in Japan is a major safeguard in one of the most important markets in the world. The application had been submitted more than four years ago. Patent protection had already existed for the predecessor version IQP-1.

Just a few months ago the State Intellectual Property Office of the People's Republic of China awarded iQ Power Licensing patent protection for its new generation IQP-2 of its passive electrolyte mixing technology for flooded batteries. Also, recently the Russian authorities have granted iQ Power Licensing patent protection for the same IQP-2 technology.

The recent protections achieved grant iQ Power Licensing the necessary backing by the respective national authorities when negotiating with interested licensees of these important countries and markets.

iQ Power Licensing AG has already received patent protection for its previous generation IQP-1 of its technology of passive electrolyte mixing for starter batteries in all major world markets. In a patent offensive, the company had also registered its new generation IQP-2 in more than 50 important countries worldwide, just over two years ago. The over 50 countries represent 95% of the world automotive market. Of these, 18 European countries have already granted patent protection for the new generation IQP-2 early this year.

No single patent application of the company has been rejected by the respective state authorities yet. This means a 100 percent approval rate. For all submissions, patent protection was also granted after the examination.

Patent applications at national level may take a long time, until the patent is granted. However, protection begins with the date of filing the patent and runs for a period of 20 years after the grant of the patent. The patent protection for iQP-2 will endure until the end of 2032.

 

About the iQ Power Technology
Batteries with iQ Power technology are designed to generate better performance in Start-Stop applications and to meet the growing demands of electronic usage in vehicles today. It is the first significant innovation to the flooded starter battery in decades. Automatic mixing of electrolyte inside the battery by passive mixing elements ensures uniform acid density for higher sustained performance throughout the entire life of the battery, thus avoiding early loss of capacity (Ah) as usual with ordinary batteries. This prolongs plate life by eliminating acid stratification and thermal gradients, delivering greater material utilization for a lower cost per cycle over conventional batteries. The patented technology was awarded the coveted Automechanika innovation award 1st prize in 2010 and und became a first prize winner of the GreenTec Awards in 2017. – More under: www.iqpower.com/en

 

South Korean licensee Discover Mixtech Manufacturing continues rapid progress

  • Continuous capacity expansion
  • Second production line underway
  • New dedicated ‘Mixtech’ product website
  • Expanded product line-up from Discover

Zug, Switzerland, 08 November 2017 – 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 an important development of interest to investors.

Discover Energy as a strategic partner to iQ Power Licensing is building up the capacity of the production facilities in the South Korean factory, which is to be re-named into Discover Mixtech Manufacturing Corp. (DMC) as announced recently. Mixtech batteries of Discover Energy are now available on four continents and with a growing number of distribution partners such as Canadian Energy, Northeast Battery, Continental Batteries, Enertec Batteries or Northern Battery, to name some of them. In addition, also the most advanced Mixtech EGM (Enhanced Glass Material) automotive batteries are now selling in the North American market.

While all equipment for a second production line has been ordered and will be installed and put into production service within the next six months the first equipment for the continuous capacity expansion has already been installed such as further plate stacking equipment or expanded formation capacity facilities. Although exact figures are not released, Discover plans to increase the production capacity of the South Korean licensee Discover Mixtech Manufacturing Corp. by at least tripling the production output over the foreseeable future.

Simultaneously to the ongoing production increase a strong marketing support has been set up.  Discover Energy has launched a new dedicated ‘Mixtech’ product website under the name ‘Discover Mixtech’ (www.discovermixtech.com) in order to support the marketing, branding and sales of the new automotive Mixtech batteries with their innovative electrolyte mixing technology of iQ Power Licensing inside.

Interested parties such as distributors, dealers, fleet owners and end users can now see the entire panorama of products available using the awarded innovative Mixtech battery technology that stands for longer cycle life, stop-start capability, less total cost of ownership and higher reliability. Different Mixtech batteries especially for hot climates or applications such as cars, trucks, busses, courier services, taxi cabs or marine applications can be selected on the new website as well as a detailed Mixtech technical brochure and whitepaper.   

Discover Energy continues to be the driving force behind the spread of the iQ Power technology. The partnership with iQ Power Licensing and Discover will continue to play a major role for the future of the iQ Power mixing technology and the establishment of Discover Energy as a major player in the automotive SLI aftermarket.

 

Pictures (bottom)
New extended battery formation facilities in DMC factory, management of Discover Energy and iQ Power Licensing

Installation of another new plate stacker in DMC factory

New CEO of South Korean Licensee and Change of Company Name

 

  • New CEO of South Korean Licensee is CEO of Canadian Company Discover Energy
  • South Korean Licensee iQ Power Asia Inc. to be changed into Discover Mixtech Manufacturing Corp.

Zug, Switzerland, 27 October 2017 – 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 an important development of interest to investors.

As stated earlier, Bob Sullivan, the current interim CEO of iQ Power Asia Inc., who is also the CEO of iQ Power Licensing AG, will be followed officially at the iQ Power Asia shareholders’ meeting, which took place today on October 27th by Steve Nam as the new CEO of iQ Power Asia Inc.. Steve Nam is also the CEO of the company Discover Energy Inc., Richmond/Canada, who owns the majority of the South Korean company iQ Power Asia.

Steve Nam, who is a Canadian citizen and native South Korean and was formerly President of Hankook Tire North America, is uniquely qualified to lead the South Korean company and licensee of iQ Power Licensing AG to great success. Steve Nam has been in charge of the South Korean factory de facto for over one year and was instrumental in leading the company through the successful transition from financial restructuring.

At the same shareholders’ meeting today on October 27th, the shareholders decided to have the name of the factory iQ Power Asia Inc. in South Korea changed into Discover Mixtech Manufacturing Corp.. The new company name will have incorporated the product brand name `Mixtech´ of Discover’s new mixing technology automotive batteries.

“Re-naming the South Korean manufacturing company after their own product brand indicates a strong commitment and support of Discover Energy in the future of the built-in mixing technology of iQ Power Licensing”, stated Bob Sullivan.

Increased marketing activities of Discover is supporting the current production capacity increase of the South Korean factory, where a new production line is underway.   

 

The picture (bottom) shows the new CEO Steve Nam (left), Darwin Sauer of Discover (middle) and the CEO of iQ Power Licensing AG, Bob Sullivan, in a new production section of the South Korean factory during full production on this Friday.

Most successful Battery Conference in company history

  • Asian Battery Conference 17th ABC 2017 sets the stage for accelerated growth of iQPLAG

Zug, Switzerland, 26 September 2017 – 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 conclusion of a very successful battery conference in Kuala Lumpur, Malaysia.

Lively discussions were conducted with many potential licensees at the conference and the iQ Power booth, including some that had already indicated interest to proceed to testing. Follow up meetings will be conducted in the next two months to discuss possible new license agreements.

In addition, several new technology cooperations were discussed, in which iQ Power technology will be used to develop advanced lead acid batteries, including batteries to be used in an special EV application. Although these discussions were preliminary, it shows that companies are increasingly accepting the importance of the iQ Power anti-stratification electrolyte mixing technology.

During the conference, leading experts discussed the future of lead acid batteries and alternatives, like Lithium-Ion. The consensus was that, despite politically motivated bold statements in Europe, the internal combustion engine will dominate travel until mid-century. A marketshare of between 5% to 10% in new cars for EV worldwide is realistic by 2025. No major country can afford the infrastructure nor subsidies required for mass market EV.

The start-stop technology will become the dominant means of transportation for both passenger car and commercial vehicles. This will greatly increase the need for advanced lead acid batteries, either flooded types (EFB) or AGM. Furthermore, the CEO of one of the biggest Chinese battery manufacturers stated that EFB will overtake AGM in China next year as the battery of choice for start-stop engines. EFB will dominate the automotive market for at least the next two decades. The iQ Power anti-stratification technology is ideal for EFB batteries.

“The participation of iQ Power with a small booth at this conference will pay off big in the near future. All trends are in our favor and acceptance is growing dramatically,” stated Bob Sullivan, CEO of iQ Power Licensing.

 

About the iQ Power Technology
Batteries with iQ Power technology are designed to generate better performance in Start-Stop applications and to meet the growing demands of electronic usage in vehicles today. It is the first significant innovation to the flooded starter battery in decades. Automatic mixing of electrolyte inside the battery by passive mixing elements ensures uniform acid density for higher sustained performance throughout the entire life of the battery, thus avoiding early loss of capacity (Ah) as usual with ordinary batteries. This prolongs plate life by eliminating acid stratification and thermal gradients, delivering greater material utilization for a lower cost per cycle over conventional batteries. The patented technology was awarded the coveted Automechanika innovation award 1st prize in 2010 and und became a first prize winner of the GreenTec Awards in 2017.

People's Republic of China awards iQ Power Licensing patent protection for its iQP-2 technology of passive electrolyte mixing for flooded batteries

 

  • In addition, patent protection for the new generation IQP-2 now also granted in Russia

Zug, Switzerland, 24 August 2017 – 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 patent protection for the new generation IQP-2 of its passive electrolyte mixing technology for flooded batteries by the State Intellectual Property Office of the People's Republic of China. The application had been submitted more than four years ago. Patent protection had already existed for the predecessor version IQP-1.

The patent protection now granted is a major safeguard in one of the most important markets in the world. Due to the issue in China, Hong Kong can now be granted as a patent protection in the People's Republic is the prerequisite for this.

Also, recently the Russian authorities have granted patent protection for the new generation IQP-2 of the iQ Power technology.

iQ Power Licensing AG has already received patent protection for its previous generation IQP-1 for its technology of passive electrolyte mixing for starter batteries in all major world markets. In a patent offensive, the company had also registered its new generation IQP-2 in more than 50 important countries worldwide, just over two years ago. The 50+ countries represent 95% of the world automotive market. Of these, 18 European countries have already granted patent protection for the new generation IQP-2 early this year.

Patent applications at national level may take a long time, until the patent is granted. However, protection begins with the date of filing the patent and runs for a period of 20 years.

 

About the iQ Power Technology

Batteries with iQ Power technology are designed to generate better performance in Start-Stop applications and to meet the growing demands of electronic usage in vehicles today. It is the first significant innovation to the flooded starter battery in decades. Automatic mixing of electrolyte inside the battery by passive mixing elements ensures uniform acid density for higher sustained performance throughout the entire life of the battery, thus avoiding early loss of capacity (Ah) as usual with ordinary batteries. This prolongs plate life by eliminating acid stratification and thermal gradients, delivering greater material utilization for a lower cost per cycle over conventional batteries. The patented technology was awarded the coveted Automechanika innovation award 1st prize in 2010 and und became a first prize winner of the GreenTec Awards in 2017. – More under: www.iqpower.com/en

Korean Licensee iQ Power Asia Inc. now under own control again

  • The South Korean Licensee iQ Power Asia Inc. officially emerges from Re-Structuring and can now operate fully under own control again  

Zug, Switzerland, 31 July 2017 – 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 an important development of interest to investors.

The licensee factory of iQ Power Asia Inc. in South Korea has officially and successfully emerged from Financial Re-structuring. Today the Court of Gwangju has given the approval to the petition to graduate from Rehabilitation in writing to iQ Power Asia. The decision paves the way for full control of the company by Discover Energy Group.

With full control, the new owners will now be able to more quickly expand and upgrade operations and capacity at the factory. As noted previously, several new battery sizes are in planning and deliveries to new markets will occur throughout 2017 and 2018.

It is anticipated that the current interim CEO of iQ Power Asia, who is also the CEO of IQ Power Licensing AG, will formally be replaced and followed by an executive from Discover Energy Group at the next iQ Power Asia shareholders’ meeting.

 

About the iQ Power Technology
Batteries with iQ Power technology are designed to generate better performance in Start-Stop applications and to meet the growing demands of electronic usage in vehicles today. It is the first significant innovation to the flooded starter battery in decades. Automatic mixing of electrolyte inside the battery by passive mixing elements ensures uniform acid density for higher sustained performance throughout the entire life of the battery, thus avoiding early loss of capacity (Ah) as usual with ordinary batteries. This prolongs plate life by eliminating acid stratification and thermal gradients, delivering greater material utilization for a lower cost per cycle over conventional batteries. The patented technology was awarded the coveted Automechanika innovation award 1st prize in 2010 and und became a first prize winner of the GreenTec Awards in 2017. – More under: www.iqpower.com/en