EnerSys and Ioxus Announce Joint Product Development and Marketing Agreement
READING, PA and ONEONTA, Feb 12, 2013 (GLOBE NEWSWIRE via COMTEX) --
via PRWEB - EnerSys (NYSE:ENS), the global leader in stored energy solutions for industrial applications, and Ioxus Inc., a leading manufacturer of premium performance ultracapacitor technology for transportation, alternative energy, medical, industrial and consumer product markets, have entered a joint product development and marketing agreement.
Under the agreement, EnerSys and Ioxus will develop and market new products that leverage the strengths and benefits of combining EnerSys battery technologies with Ioxus ultracapacitor technology.
The EnerSys and Ioxus' cooperation will focus on creating products to address regenerative braking and energy recovery in the material handling markets, and other major markets, including the UPS bridge to generator markets, the automotive and heavy truck critical and cold start markets, and the energy storage/power conditioning markets.
"The combination of EnerSys battery technology with Ioxus ultracapacitor technology will benefit many vertical markets in need of high-performance, extended energy storage life under harsh environmental conditions, including select automotive markets," said Mark McGough, CEO of Ioxus.
"We are pleased to be working with Ioxus, the up-and-coming leader in the ultracapacitor field. This partnership further enhances the solutions EnerSys provides to our global customers. By utilizing the unique performance of the Ioxus ultracapacitors with the broad portfolio of EnerSys products, we expect to dramatically expand the markets we compete in. Additional benefits users can expect are in both stand alone and hybrid applications," said John Gagge, Vice President of EnerSys America's Reserve Power Sales and Service.
About EnerSys. EnerSys, the world leader in stored energy solutions for industrial applications, manufactures and distributes reserve power and motive power batteries, chargers, power equipment, and battery accessories to customers worldwide. Motive power batteries are utilized in electric forklift trucks and other commercial electric powered vehicles. Reserve power batteries are used in the telecommunication and utility industries, uninterruptible power supplies, and numerous applications requiring stored energy solutions including aerospace and defense systems. The company also provides aftermarket and customer support services to its customers from over 100 countries through its sales and manufacturing locations around the world. For more information, visit http://www.EnerSys.com.
About Ioxus, Inc. Ioxus manufactures premium performance ultracapacitor technology for transportation, alternative energy, medical, industrial and consumer product markets. The company offers the highest power and energy density ultracapacitors and hybrid capacitors ranging in size from 100 Farads to 3,000 Farads in cylindrical and flat laminated form factors. Ioxus ultracapacitors have higher power compared to other ultracapacitors, with smaller, lighter weight modules and systems. Its family of ultracapacitors is uniquely optimized for high performance with low resistance, ideal for delivering high power bursts for acceleration, energy recapture, peak load shaving and high power applications. Ioxus is headquartered in Oneonta, N.Y. For more information, visit http://www.ioxus.com.
Caution Concerning Forward-Looking Statements
This press release and oral statements made regarding the subjects of this release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These forward-looking statements may include, but are not limited to, (i) statements regarding EnerSys' plans, objectives, expectations and intentions and other statements contained in this press release that are not historical facts, including statements identified by words such as "expects," "anticipates," "intends," "plans," "believes," "seeks," "estimates," "will" or words of similar meaning; and (ii) statements about the benefits of the joint development project, including any impact on our financial and operating results and estimates, and any impact on EnerSys' market position that may be realized from the joint development project.
These forward-looking statements are based upon management's current beliefs or expectations and are inherently subject to significant business, economic, and competitive uncertainties and contingencies many of which are beyond our control. The following factors, among others, could cause actual results to differ materially from those described in the forward-looking statements: (1) our ability to successfully develop products from this joint development project; (2) the possibility that EnerSys may not realize revenue benefits from the project within expected time frames; and (3) competition may adversely affect the project. The statements in this press release are made as of the date of this press release, even if subsequently made available by EnerSys on its website or otherwise. EnerSys does not undertake any obligation to update any forward-looking statement to reflect circumstances or events that occur after the date such forward-looking statement is made.
Although EnerSys does not make forward-looking statements unless it believes it has a reasonable basis for doing so, EnerSys cannot guarantee their accuracy. The foregoing factors, among others, could cause actual results to differ materially from those described in these forward-looking statements. For a list of other factors which could affect EnerSys' results, including earnings estimates, see EnerSys' filings with the Securities and Exchange Commission, including "Item 2. Management's Discussion and Analysis of Financial Condition and Results of Operations," including "Forward-Looking Statements," set forth in the Company's Quarterly Report on Form 10-Q for the period ended December 30, 2012. No undue reliance should be placed on any forward-looking statements.
SOURCE EnerSys
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CONTACT: EnerSys
Richard Zuidema
Richard.Zuidema@enersys.com
800-538-3627