Nano-Terra, Inc., a leading surface engineering and nanotechnology co-development company, today announced an alliance with Exide Technologies, a global leader in stored electrical-energy solutions.
CAMBRIDGE, Mass.--(BUSINESS WIRE)--Nano-Terra, Inc., a leading surface engineering and nanotechnology co-development company, today announced an alliance with Exide Technologies (NASDAQ: XIDE, www.exide.com), a global leader in stored electrical-energy solutions.
Nano-Terra will use its expertise in surface chemistry and surface engineering to create a number of innovative functionalities for stored energy solutions manufactured by Exide for motive power, network power and transportation applications. Further, the alliance is expected to provide Exide Technologies the opportunity to improve both the efficiency and competitiveness of its product portfolio.
The solutions under development in this collaboration are based on the surface engineering methods pioneered by Nano-Terra and its Co-Founder, Professor George M. Whitesides of Harvard University.
“As the world moves toward the development of increasingly more efficient energy technologies, we look forward to working with Exide to bring about significant improvements in energy storage through our nanotechnology portfolio and expertise,” said Myer Berlow, CEO of Nano-Terra. “Exide has a long tradition of being on the cutting edge of new technology advancements, and we are very pleased that the Company recognizes the important role that nanotechnology can play in this arena.”
The two companies will collaborate on product development at Nano-Terra’s lab facilities in Cambridge, Massachusetts. Both Nano-Terra and Exide currently anticipate that the first new product solutions will be presented to customers by 2011.
“A growing global interest in advanced lead-acid chemistries and alternate energy sources is driving our development into new products and technologies that will shape the energy storage systems of tomorrow,” said Dr. Paul Cheeseman, Vice President, Global Engineering and Research for Exide Technologies. “Exide is one of the world's largest producers and recyclers of lead-acid batteries and the first in our industry to collaborate with Nano-Terra. This strong collaboration will allow our Company to draw upon unique nanotechnology resources to implement innovative energy solutions for the global marketplace.”
About Nano-Terra
Nano-Terra is a privately-held research and development company with expertise supported by an extensive patent portfolio based on work done by co-founder Dr. George Whitesides, the Woodford L. and Ann A. Flowers University Professor at Harvard University.
The company leverages its expertise and intellectual property through co-development agreements with Fortune 500 companies and the U.S. Government. Nano-Terra’s scientific methods can be used to fabricate advanced materials and devices that enhance existing products or create entirely new products in a broad range of areas, including: smart materials and surfaces; flexible electronics such as displays and electronic packaging; fuel cells, batteries and solar power devices; sensors; industrial products and processes; and a wide range of consumer goods.
For more information, visit www.nanoterra.com.
About Exide Technologies
Exide Technologies, with operations in more than 80 countries, is one of the world's largest producers and recyclers of lead-acid batteries. The Company's four global business groups -- Transportation Americas, Transportation Europe and Rest of World, Industrial Energy Americas and Industrial Energy Europe and Rest of World -- provide a comprehensive range of stored electrical energy products and services for industrial and transportation applications.
Transportation markets include original-equipment and aftermarket automotive, heavy-duty truck, agricultural and marine applications, and new technologies for hybrid vehicles and automotive applications. Industrial markets include network power applications such as telecommunications systems, electric utilities, railroads, photovoltaic (solar-power related) and uninterruptible power supply (UPS), and motive-power applications including lift trucks, mining and other commercial vehicles.
Further information about Exide, including its financial results, are available at www.exide.com.
Forward-Looking Statements
Except for historical information, this press release may be deemed to contain “forward-looking” statements. The Company desires to avail itself of the safe harbor provisions of the Private Securities Litigation Reform Act of 1995 (the “Act”) and is including this cautionary statement for the express purpose of availing itself of the protection afforded by the Act. The Company undertakes no obligation to publicly update or revise any forward-looking statement in this or any prior forward-looking statements whether as a result of new information, future developments or otherwise.
Examples of forward-looking statements include, but are not limited to, (a) projections of revenues, cost of raw materials, income or loss, earnings or loss per share, capital expenditures, growth prospects, dividends, the effect of currency translations, capital structure and other financial items, (b) statements of plans and objectives of the Company or its management or Board of Directors, including the introduction of new products, or estimates or predictions of actions by customers, suppliers, competitors or regulating authorities, (c) statements of future economic performance and (d) statements of assumptions, such as the prevailing weather conditions in the Company’s market areas, underlying other statements and statements about the Company or its business.
Factors that could cause actual results to differ materially from these forward-looking statements include, but are not limited to, the following general factors such as: (i) the Company’s ability to implement and fund based on current liquidity business strategies and restructuring plans, (ii) unseasonable weather (warm winters and cool summers) which adversely affects demand for automotive and some industrial batteries, (iii) the Company’s substantial debt and debt service requirements which may restrict the Company’s operational and financial flexibility, as well as imposing significant interest and financing costs, (iv) the litigation proceedings to which the Company is subject, the results of which could have a material adverse effect on the Company and its business, (v) the fact that lead, a major constituent in most of the Company’s products, experiences significant fluctuations in market price and is a hazardous material that may give rise to costly environmental and safety claims, (vi) competitiveness of the battery markets in North America and Europe, (vii) risks involved in foreign operations such as disruption of markets, changes in import and export laws, currency restrictions, currency exchange rate fluctuations and possible terrorist attacks against U.S. interests, (viii) general economic conditions, (ix) the ability to acquire goods and services and/or fulfill labor needs at budgeted costs, (x) the Company’s reliance on a single supplier for its polyethylene battery separators, (xi) the Company’s ability to successfully pass along increased material costs to its customers, (xii) the loss of one or more of the Company’s major customers for its industrial and transportation products; (xiii) the ability of the Company’s customers to pay for products and services in light of liquidity constraints resulting from global economic conditions and restrictive credit markets.
Therefore, the Company cautions each reader of this press release carefully to consider those factors set forth above and those factors described in the Company’s annual report on Form 10-K filed on June 9, 2008 and its quarterly reports on Form 10-Q filed on August 8, 2008, November 6, 2008 and February 4, 2009, because such factors have, in some instances, affected and in the future could affect, the ability of the Company to achieve its projected results and may cause actual results to differ materially from those expressed herein.
