CLARE — Advanced Battery Concepts, the Clare-based developer of advanced lead-acid battery technology, announced that the Bulgarian battery manufacturer Monbat has acquired licensing rights to the full suite of Advanced Battery Concepts’ GreenSeal Bipolar Lead battery technologies.
Advanced Battery Concepts officials said the GreenSeal technology simplifies lead battery manufacturing and significantly improves lead battery performance by increasing cycle life, reducing weight, reducing recharge time, and improving reliability, and makes batteries fully recyclable.
This improvement is achieved through reduction of lead-metal content by an average of 46 percent, and more efficient working of the active materials through patented design.
Monbat supplies lead-acid batteries to multiple market segments, including automotive, stationary, and deep cycle applications, serving more than 60 countries spanning the European, Central Asian and African markets.
“Monbat has demonstrated vision and determination in our discussions,” Advanced Battery Concepts CEO and founder Edward O. Shaffer said. “Monbat’s commitment to GreenSeal® technology is very exciting and their plans for GreenSeal technology rollout to their products and markets is very aggressive. We are very happy to have Monbat as a partner.”
Added Atanas Stoilov Bobokov, Monbat board chair: “We very much look forward to working with Advanced Battery Concepts in the future. We have seen the competitive advantages GreenSeal technology offers to lead battery manufacturers and their customers and we envisage many potential applications for this new Lead battery technology.”
Monbat joins Advanced Battery Concepts’ four existing licensees: Johnson Controls Power Solutions, Enersys, Exide Industries and Trojan Battery Company.
Advanced Battery Concepts is currently in licensing discussions with several other global lead battery producers and expects to have further announcements in 2019. Advanced Battery Concepts is currently working with existing lead acid battery producers and engaging licensees to realize the commercial potential of its technology, as well as on-going production of batteries and additional research from its battery research and engineering development center in Clare to broaden its technology portfolio.
Shaffer worked in battery materials research for The Dow Chemical Co. in Midland before establishing Advanced Battery Concepts in 2008. He earned a Bachelor of Science from the University of Illinois at Urbana-Champaign, a Master of Science from Northwestern University, and a PhD from Massachusetts Institute of Technology, all in materials science.
Monbat was founded at as a state-owned lead-acid battery manufacturing plant in Bulgaria in 1959. The company was privatized in 1998 after the fall of European communism and has since become the largest battery producer in Eastern Europe, with production and recycling plants in five countries. The company reported net income of $2.8 million on revenue of $121.3 million in the third quarter of 2018.
More at www.advancedbatteryconcepts.com.