VANCOUVER, British Columbia, Nov. 10, 2020 (GLOBE NEWSWIRE) -- Extreme Vehicle Battery Technologies Corp. (the “Company” or “EV Battery Tech”) (CSE: ACDC) is pleased to announce the launch of its “Battery Revival Program”. The Battery Revival Program utilizes EV Battery Tech’s proprietary technology on used batteries to be used in future applications such as Electric Vehicles (EV) or Energy Storage Systems (ESS).
Global Concern
The launch of this program comes at a time when electronic waste has become a top global concern. According to Thomson Reuters, exponential growth in e-waste has reached a record 53.6 million tonnes in 2020 and that number its projected to double by 20501. What’s worse, a global e-waste report (the “Report”), commissioned by the United Nations (the “UN”), states that only 17.4% of the waste was recycled. According to the World Economic Forum, annual e-waste exceeds GDP in over 120 countries1. The UN calls it a “tsunami of e-waste” and has made the management of e-waste a top priority. The Report concluded that the overall damage done to the environment is incalculable and the way we currently dispose of e-waste is unsustainable.
Battery Revival Program to the Rescue
Thanks to artificial intelligence (AI) driven technology, the Company is able to perform a proprietary rapid testing program to quickly and thoroughly analyze used batteries. Once data is entered into its proprietary AI based technology and the analysis is completed, the Company can then determine to either refurbish the batteries back to 100% or reuse the batteries in future ESS production.
Bryson Goodwin, President and CEO comments:
“Our patented and industry leading technology will allow us to refurbish and return to use used batteries, which could be a phenomenal win for efforts to reduce waste and curb the release of toxic components into the environment. We intend to apply or proprietary AI integrated BMS technology to manufacture and sell state-of-the-art ESS products.”
“As the world is drowning in waste, we all need to look for better, safer and cleaner alternatives. The surge of electric vehicles is bringing with it a wave of used batteries. Most EV batteries are deemed non-functional when they lose functionality in 20% of their fuel cells. Think of the waste.”
Win - Win
It goes without saying that reusing batteries and maximizing their full potential could benefit the environment. However, an additional benefit to the Company is the massive cost savings in the production of ESS products. The largest cost in the ESS is the batteries and by using recycled batteries, the Company is able to enjoy significant cost savings.
On behalf of the Company,
Bryson Goodwin, Chief Executive Officer
Phone: 604-325-2223
Email: info@evbattery.tech
Further information about the Company is available under its profile on the SEDAR website (www.sedar.com) and on its website (www.evbattery.tech).
The CSE (operated by CNSX Markets Inc.) has neither approved nor disapproved of the contents of this press release.
About EV Battery Technologies
EV Battery Tech is a blockchain and battery technology company with exclusive North and South American distribution rights as well as European and African distribution rights to patented battery management systems (BMS) designed to meet the growing demand for scalable, smart solutions for the electric vehicle (EV) and energy storage solution (ESS) markets.
EV Battery Tech’s technology is based on artificial intelligence (AI) algorithms designed to analyze the short comings of batteries in today’s market. The resulting extraordinary technology allows batteries to have more efficient power management and longer battery life, while offering real-time monitoring and remote maintenance.
The Company’s AI technology will also allow it to use recycled batteries in its ESS manufacturing process, making it one of the greenest battery technology companies in the industry.
1 – Source: Thomson Reuters (https://ca.reuters.com/article/idUSKBN243255)
Forward Looking Statements
The information in this news release includes certain information and statements about management’s view of future events, expectations, plans and prospects that constitute forward looking statements. These statements are based upon assumptions that are subject to risks and uncertainties. Forward looking statements in this news release include, but are not limited to, statements relating to: the Company’s battery Revival Program, its expected launch and the expected benefits thereof; growth in e-waste and the implications thereof; risks associated with emerging markets; market trends in the battery industry; and the Company’s battery technology partnership. Although the Company believes that the expectations reflected in forward-looking statements are reasonable, it can give no assurances that the expectations of any forward-looking statement will prove to be correct. Except as required by law, the Company disclaims any intention and assumes no obligation to update or revise any forward-looking statements to reflect actual results, whether as a result of new information, future events, changes in assumptions, changes in factors affecting such forward-looking statements or otherwise.