June 1, 2006 for immediate release
Zinc Matrix Power Selects Tyco Electronics as Manufacturing Provider for Advanced, Rechargeable Silver-Zinc Batteries
Agreement with Tyco Electronics is next step towards high-volume production of breakthrough battery technology which delivers up to twice the energy of current lithium-ion batteries.
Camarillo, CA – June 1, 2006 - Advanced silver-zinc battery developer Zinc Matrix Power, Inc. announced today that it selected Transpower, a unit of Tyco Electronics Corporation, as a manufacturing provider in preparation for high volume production ramp-up. This agreement comes on the heels of Zinc Matrix Power’s recent announcement to establish and staff its own pilot production facility in Camarillo, CA.
Tyco Electronics, part of Tyco International, a company with revenues of almost $40 billion, is one of the world’s largest suppliers of electronic components, including batteries, energy power supplies, and innovative power supply products.
“Tyco Electronics is the ideal manufacturing provider for us,” stated Dr. Ross Dueber, president and CEO of Zinc Matrix Power. “Their innovative technology, battery and electronics assembly experience, low cost manufacturing capabilities, and entrepreneurial attitude were critical factors in our selection process. Tyco Electronics possesses the breadth and scale necessary to help enable our battery technology to achieve broad and rapid penetration within the marketplace. We will work closely together as we progress towards full-scale production.”
“After personally touring several of their facilities in China, we quickly concluded that Tyco Electronics is the right choice for us,” added Arthur N. Budge, Jr., chairman of Zinc Matrix Power. “They have the personnel, infrastructure, mindset, and expertise to assist us in rapidly moving from low-volume to high-volume production, while delivering the highest standard of product quality.”
“We are always looking for innovative power solutions that can extend current battery life,” added Peter Wraight, Managing Director of Tyco’s Battery Systems and Transpower division. “We have the manufacturing expertise to assist in mass production along with the marketing and selling channels to promote the Zinc Matrix PowerMP product through our Battery Systems division.”
Zinc Matrix Power has developed and patented advanced, rechargeable silver-zinc battery technology that can deliver as much as two-times the energy in a similar volume as current lithium-ion batteries, while being substantially safer to operate due to its lithium-free, water-based chemistry. The company currently is testing product with the U.S. Army and will release product later this year for notebook computer and cellular telephone testing.
About Zinc Matrix Power
Zinc Matrix Power, Inc. develops and produces high performance rechargeable silver-zinc batteries for commercial and military markets. The Company currently holds 18 key patents on rechargeable silver-zinc batteries and has demonstrated 2X the energy to volume of current lithium-ion notebook computer batteries. The Company has strategic partnerships with, and venture investments from, Intel™ Corporation and OnPoint™ Technologies, a venture capital fund of the U.S. Army. For additional information, please visit www.zpowerbattery.com.
About Tyco Electronics
Tyco Electronics, a business segment of Tyco International Ltd., is the world's largest passive electronic components manufacturer; a leader in cutting-edge wireless components, complete power systems, and premise wiring components and systems; and a provider of critical communications systems to the Land Mobile Radio industry. Tyco Electronics provides advanced technology products from over forty well-known and respected brands, including Agastat, Alcoswitch, AMP, AMP NETCONNECT, Buchanan, CII, CoEv, Critchley, Elcon, Elo TouchSystems, M/A-COM, Madison Cable, OEG, Potter & Brumfield, Raychem, Schrack and Simel. For more information, visit www.tycoelectronics.com.