NEW YORK, Sept. 28, 2005 (PRIMEZONE) -- Advanced Battery Technologies, Inc. (OTCBB:ABAT), a developer and manufacturer of rechargeable Polymer-Lithium-Ion (PLI) batteries, today announced that it has signed a cooperation contract with the Beijing Institute of Technology ("BIT") to develop all-electric buses with enhanced power systems and design, including the building of low and super-low floors to facilitate and expedite customer use. The buses are being designed to operate in large and mid-sized cities, both in China and abroad.
The cooperation agreement provides that BIT will provide the technology and ABAT will build the prototypes. The buses will use ABAT's advanced rechargeable PLI batteries. BIT will design the materials and develop the manufacturing procedures. The agreement also envisions the development of buses for long distance travel, with enhanced design and comfort.
The timelines require the completion of the low floor and super-low floor prototypes in the first half of 2006, with testing to be completed in August 2006. Once testing is complete, ABAT will both supply the batteries and manufacture the buses. The parties expect to showcase their all-electric bus at the 2008 Olympics.
"We are very pleased to be working with the Beijing Institute of Technology to develop all-electric buses. With BIT technology, we plan to quickly secure a leading position in the market for all-electric buses," said Mr. Zhiguo Fu, Chairman of ABAT.
About Advanced Battery Technologies, Inc.
Advanced Battery Technologies, Inc., founded in September 2002, develops, manufactures and distributes rechargeable Polymer Lithium-Ion (PLI) batteries. The Company's products include rechargeable PLI batteries for electric automobiles, motorcycles, mine-use lamps, notebook computers, walkie-talkies and other personal electronic devices. ABAT's batteries combine high-energy chemistry with state-of-the-art polymer technology to overcome many of the shortcomings associated with other types of rechargeable batteries. The Company has a New York office, with manufacturing facilities in China.
For more information about Advanced Battery Technologies, Inc. (ABAT) please visit: http://www.zqpt.com/zqenglish/index.htm.
Safe Harbor Statement under the Private Securities Litigation Reform Act of 1995
This news release contains forward-looking statements within the meaning of the "safe harbor" provisions of the Private Securities Litigation Reform Act of 1995, may involve risks, uncertainties and other factors that may cause the company's actual results to be materially different from any future results or performance suggested by the forward-looking statements in this release. These risks and uncertainties include, without limitation, risks that that technical issues will delay or prevent the development of the planned all-electric bus, risks that the market for the all-electric bus using the materials designed and built by the parties may be limited, and the risks that other all-electric buses receive better market acceptance than those described in this release. We undertake no obligation to revise or update publicly any forward-looking statements.