Maker of World’s Highest Energy Density Rechargeable Battery will Employ 350 by Year End
Electrofuel Inc. (TSE:EFL) officially began volume production today of its PowerPad 160 rechargeable portable batteries at its $50 million manufacturing facility in Mississauga, Ontario. Electrofuel’s PowerPad 160 can provide note book computers with up to 16 hours of power, only weighs 2.5 lbs. and is the same size as letter sized paper.
The first phase of the Corporation’s Mississauga facility will have a monthly capacity of approximately five million Watt hours, which is equivalent to approximately 30,000 PowerPad 160s per month, when completed. Electrofuel expects to begin the second phase of this facility later in the year which will expand total plant capacity to approximately 10 million Watt hours or approximately 60,000 PowerPad 160s per month. As the size of the Mississauga facility grows, the Corporation will begin to produce its EF2100 cell phone battery which can provide up to seven hours of talk time
Electrofuel expects to employ approximately 350 people at its Mississauga facility by the end of the year.
“This facility enables us to address our immediate needs in the laptop market and to begin addressing opportunities in cellular phones and other mobile devices,” said Dr. Sankar Das Gupta, President and Chief Executive Officer of the Corporation. “We have developed batteries for popular cell phone models and can now plan for their volume production.”
“The demand for portable power is also growing in fields as diverse as transportation, medicine and the environment,” said Dr. James Jacobs, Chief Technology Officer of Electrofuel. “With this facility now established, we can devote more attention to understanding the specific needs of these markets.
Electrofuel purchased the 156,000 square foot facility, which sits on a 15 acre site in Mississauga, in April 2000. Since then, the Corporation has built specialized manufacturing rooms within the frame of the building and installed proprietary manufacturing equipment.
About Electrofuel
Electrofuel Inc. develops, manufactures and sells products using its proprietary lithium ion SuperPolymer rechargeable battery technology. Electrofuel’s goal is to become the leading provider of portable power for the notebook computer and wireless sectors, and to apply its technology to a broad spectrum of alternative energy applications over the long term. Electrofuel is a public company trading on the Toronto Stock Exchange under the symbol EFL
For more information about Electrofuel and its products, please visit our website at www.electrofuel.com.
Electrofuel Inc. Sankar Das Gupta
(416) 535-1114 ext. sdasgupta@electrofuel.com
iContact Michael Van Dusen
227(416) 926-2491 michael.vandusen@icontact.ca
Certain statements relating to Electrofuel in this press release may constitute forward-looking statements that involve a number of risks and uncertainties. Future results may be affected by a number of factors including those set forth in the public disclosure documents of Electrofuel which are filed with Canadian securities regulatory authorities. Actual results may be materially different from any future results express or implied by such forward-looking statements. Electrofuel disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.