-- Battery charging in 15 minutes or less
-- Longest-lasting rechargeable battery for many devices
-- Lasts up to four times longer than alkaline
MADISON, Wis., March 19 /PRNewswire-FirstCall/ --
Rayovac Corp. (NYSE: ROV) announced today the development of a
revolutionary new rechargeable technology that will shorten charging time to
an unprecedented 15 minutes or less. Rayovac's patent-pending I-C3*
technology(TM) (In-Cell Charge Control) puts the control of recharging into
the battery, instead of the charger. This breakthrough in Nickel Metal
Hydride (NiMH) technology offers significant performance and convenience
advantages over existing rechargeable and disposable battery systems. When
commercialized, the Rayovac I-C3 technology NiMH batteries will be the
longest-lasting rechargeable for many devices and last up to four times longer
than regular single-use alkaline.
The groundbreaking Rayovac I-C3 technology has the potential to capture a
significant share of the $5 billion rechargeable-battery industry. High-tech
electronic devices (digital cameras, MP3 players, cell phones), household
devices (power tools, personal care products, toys) and other emerging
technologies (e-scooters/e-bikes, portable web-based electronics) will all
greatly benefit from the In-Cell Charge Control system.
I-C3 An Extraordinary Advance in Rechargeables
A rechargeable battery with built-in charging control will provide several
significant advantages over other battery technologies:
-- Fastest recharging time ever -- 15 minutes or less
-- Longest-lasting rechargeable battery in many devices and lasts up to
four times longer than alkaline
-- Can be recharged up to 1,000 times
-- Safe design -- system monitors the charge in each individual battery
for safety, speed and reliability
Rayovac is currently evaluating options for strategic partnerships with
major OEMs (Original Equipment Manufacturers). Retail products are expected
to be introduced in mid-to-late 2003.
In digital cameras, the new Rayovac I-C3 NiMH AA size batteries will
deliver up to four times more shots than an alkaline battery and more than any
comparable size lithium ion battery, based on current American National
Standards Institute (ANSI) battery tests. In devices like power tools and
emerging technologies like e-scooters, this new Rayovac I-C3 technology system
is projected to last 20 percent longer than any current rechargeable battery,
while at the same time significantly reducing charge time.
"This dramatic rechargeable breakthrough will allow design engineers to
offer consumers unparalleled improvements in performance and convenience,"
said Rayovac Chairman and CEO Dave Jones. "We can now offer OEMs the
longest-lasting, fastest-charging battery technology ever for many of their
current electronic devices and their future technology-based applications.
The size and potential growth of the portable power device market represents a
significant opportunity for Rayovac."
Rayovac is a Leader in Technology
In 2001, Rayovac stayed in the forefront of the rechargeable battery
category by introducing the world's first one-hour NiMH charger and new
long-lasting high capacity NiMH batteries. The Rayovac 1-Hour Charger, which
received numerous industry awards for its innovative design, is sold in
leading retailers nationwide. This industry-leading, never-before-utilized
rechargeable technology helped solidify Rayovac's position as the number one
selling rechargeable brand in the U.S., according to data from A.C. Nielsen,
which monitors battery sales in food, drug and discount stores. Rayovac is
the number one selling rechargeable brand in the U.S., with a 75 percent
This rechargeable breakthrough is just the latest example of Rayovac's
ongoing commitment to create powerful solutions for tomorrow's world. Rayovac
has made sizeable investments in the latest high-speed manufacturing
instrumentation and R&D equipment. With these investments, Rayovac
scientists, chemical and electrical engineers can bring to life the
significant product performance improvements they've created in the test lab.
Rayovac's investments in people, facilities and equipment are aimed at
developing battery technologies for future device applications focused in
three battery segments -- alkaline, rechargeable and zinc air.
In the alkaline segment, Rayovac leads the way in building batteries that
deliver more power for the consumer's money. This spring, Rayovac will launch
a new and improved alkaline battery called Maximum Plus(TM). This new
alkaline product will incorporate the latest advances in battery chemistry and
internal cell construction. The end result will be the longest-lasting
Rayovac alkaline ever, with performance improvements of up to 28 percent over
the current alkaline product when used in certain high-drain devices.
The third area of technology emphasis is on the development of
next-generation zinc air primary batteries that offer even greater performance
enhancements for a multitude of new consumer applications. Rayovac scientists
using proprietary technology are working on ways to harness the incredible
power and performance advantages the zinc air chemistry holds over all other
battery systems. Building upon its industry-leading zinc air technology for
"miniature" hearing aid batteries, Rayovac is expanding the zinc air
technology into more traditional size batteries and battery packs that have
the potential to last exponentially longer than any battery system currently
on the market. Rayovac's zinc air technology focus will continue on both
improvements in its zinc air hearing aid batteries and development of entirely
new primary zinc air battery systems for everyday consumer applications.
Rayovac is one of the world's leading battery and lighting device
companies in the world with $675.5 million sales in 2001. Rayovac's four-year
compound annual growth rate is over 12 percent in revenues. Rayovac trades on
the New York Stock Exchange under the ROV symbol.
Certain matters discussed in this news release, with the exception of
historical matters, are forward-looking statements within the meaning of the
Private Securities Litigation Reform Act of 1995. These statements are
subject to a number of risks, uncertainties and other factors that could cause
results to differ materially from those anticipated as of the date of this
release. Actual results may differ materially from these statements as a
result of (1) changes in external competitive market factors, including any
introduction of new product features or technological developments,
development of new competitors or competitive brands or competitive
promotional activity or spending, (2) unanticipated changes in consumer demand
for the various types of consumer batteries, (3) unanticipated changes in the
general economic conditions where we do business, such as stock market prices,
interest rates, inflation and raw material costs, (4) risks related to
protection of our intellectual property and risks related to third party
infringement claims and (5) various other factors, including those discussed
herein and those set forth in the Company's SEC filings, including its most
recent Form 10Q, Annual Report on Form 10-K and the prospectus supplement for
the Company's most recent public offering of its common stock.
* The "3" in "I-C3" should be read as a superscript.
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SOURCE Rayovac Corp.
Web site: http: //www.rayovac.com
CONTACT: John Daggett of Rayovac Corp., +1-608-275-4912