Highpower Provides Advanced Compact Rechargeable Lithium Battery Solutions for use in new Timex Smartwatches
SAN FRANCISCO and SHENZHEN, China, August 20, 2014 /PRNewswire/ — Highpower International, Inc. (NASDAQ: HPJ), a developer, manufacturer, and marketer of lithium and nickel-metal hydride (Ni-MH) rechargeable batteries, and a battery management systems and battery recycling provider, today announced that it started shipping its advanced compact lithium battery product developed for the newly introduced TIMEX® IRONMAN® ONE GPS+, a smartwatch offering consumers stand-alone wireless connectivity without a phone.
Mr. George Pan, Chairman and CEO of Highpower, commented, “Timex is an iconic watch brand. We are excited to work with Timex as a contributor to this innovative smartwatch technology. We feel that wearables represent an exciting area of growth for mobile devices, and smartwatches could provide a natural progression from current applications to help consumers further embrace wearable technology. We feel that our battery performance, seamlessness of services, and quality will allow us to compete for a proportionate market share of batteries for these products. Highpower is a flexible battery manufacturer capable of applying our expertise to a number of different markets, and this initial order is strong evidence that our product offering is gaining traction in the rapidly growing wearable device market.”
The TIMEX® IRONMAN® ONE GPS+ will be available for purchase this fall at timex.com, att.com, AT&T stores, select sports specialty and electronic stores.
About Highpower International, Inc.
Highpower International was founded in 2001 and produces high-quality Nickel-Metal Hydride (Ni-MH) and lithium-based rechargeable batteries used in a wide range of applications such as electric buses, bikes, energy storage systems, power tools, medical equipment, digital and electronic devices, personal care products, and lighting, etc. Highpower’s target customers are Fortune 500 companies, and top 10 companies in each vertical segment. With advanced manufacturing facilities located in Shenzhen, Huizhou, and Ganzhou of China, Highpower is committed to clean technology, not only in the products it makes, but also in the processes of production. The majority of Highpower International’s products are distributed to worldwide markets mainly in the United States, Europe, China and Southeast Asia.
Forward Looking Statements
This press release contains “forward-looking statements” within the meaning of the “safe-harbor” provisions of the Private Securities Litigation Reform Act of 1995 that are not historical facts. These statements can be identified by the use of forward-looking terminology such as “believe,” “expect,” “may,” “will,” “should,” “project,” “plan,” “seek,” “intend,” or “anticipate” or the negative thereof or comparable terminology, and include discussions of strategy, and statements about industry trends and the Company’s future performance, operations and products. Such statements involve known and unknown risks, uncertainties and other factors that could cause the Company’s actual results to differ materially from the results expressed or implied by such statements. For a discussion of these and other risks and uncertainties see “Risk Factors” and “Management’s Discussion and Analysis of Financial Condition and Results of Operations” in the Company’s public filings with the SEC. Although the Company believes that the expectations reflected in such forward-looking statements are reasonable, there can be no assurance that such expectations will prove to be correct. The Company has no obligation to update the forward-looking information contained in this press release.
Highpower International, Inc.
The Equity Group Inc.
Katherine Yao, Associate
Adam Prior, Senior Vice President