EnerSys Enters into Nickel-Zinc Battery License & Technology Development Agreement

READING, Pa., March 22, 2012 /PRNewswire/ -- EnerSys (NYSE: ENS), the global leader in stored energy solutions for industrial applications, today announced that it has completed a license and technology development agreement with PowerGenix Systems, Inc. to provide nickel-zinc batteries to EnerSys' industrial battery customers worldwide.

"We continue to develop and provide energy storage solutions and systems to meet our customers' ever changing needs," said John D. Craig, chairman, president and chief executive officer of EnerSys. "To achieve this we are investing to provide advanced lead-based, lithium-based and now, an additional nickel-based solution to match the diverse and challenging applications and markets we serve."

Dr. Rhodri Evans, EnerSys vice president of research and development noted, "We have significant experience in the major energy storage platforms based around lead, lithium and nickel based solutions and concluded that nickel-zinc can fill an important market segment for harsh and high integrity back-up power platforms for uninterruptible power supplies, rail and other applications fitting between the unique performance attributes of lead based and lithium based products. We will work closely with our customers to validate the performance and cost attributes of the nickel-zinc batteries and believe the technology of our PowerGenix partner combined with our own nickel-based product application and production experience provides a unique platform for our customers to benefit from this technology."