DALIAN, China, Dec. 2, 2020 /PRNewswire/ -- CBAK Energy Technology, Inc. ("CBAK Energy", NASDAQ: CBAT), a world's leading lithium-ion battery manufacturer and electric energy solution provider, announced that its wholly owned subsidiary, Dalian CBAK Energy Technology Co., LTD ("Dalian CBAK", or the "Company") signed a strategic cooperation agreement with Changxing Sino-Russian New Energy and Material Technology Research Institute ("NEMTRI"), and founded the Power Battery Technology R&D Center (the "R&D Center"). The two parties will expand cooperation in the fields of solid-state battery, quasi solid-state battery, and new high performance electrochemical functional materials.
Guided by the principles of "mutual complementary, benefits for both two parties, sincere cooperation, and common development", Dalian CBAK will bring into full play of its advantages in new energy power battery manufacturing and customer resources, NEMTRI will resort to its strength in new energy technology and related functional materials and other fields.
As a scientific research platform, this institution will help CBAK Energy to overcome technological difficulties, product examination and technological improvement. It will diversify CBAK Energy's product and increase the company's competitiveness.
About NEMTRI
NEMTRI is established at Zhejiang Changxing, it is a platform for Sino-Russian joint scientific and technological research and transformation. It is a Science and Education Base of St. Polytechnic University authorized by Russian Ministry of science and education. NEMTRI is also a research center of Russian Academy of Sciences and Russian Far East Federal University, Zhejiang University and Harbin Institute of Technology. In addition to that, NEMTRI is the first institute in the world to own quasi solid porous polymer lithium ion power battery technology and the corresponding composite ceramic isolation membrane technology, it is also the first organization to invent and apply phase separation porous electrode technology, it is also a high-end functional material technology research base.
About CBAK Energy
CBAK Energy Technology, Inc. (NASDAQ: CBAT) is a global leading high-tech enterprise engaged in the R&D, manufacture, and sales of high power lithium batteries. The application of its products and solutions covers such areas as electric vehicles, light electric vehicles, electric tools, transportation and energy storage. As the first lithium battery company in China to get listed in NASDAQ in January 2005, CBAK Energy possesses China's first production base specially engaged in power battery, and has its wholly-owned subsidiary, Dalian CBAK Energy Technology Co., Ltd, Dalian CBAK Power Battery Co., Ltd, Nanjing CBAK New Energy Technology Co., Ltd. and a large-scale R&D and production base in Dalian.
Safe Harbor Statement
This press release contains forward-looking statements, which are subject to change. The forward-looking statements are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. All "forward-looking statements" relating to the business of CBAK Energy Technology, Inc. and its subsidiary companies, which can be identified by the use of forward-looking terminology such as "believes", "expects" or similar expressions, involve known and unknown risks and uncertainties which could cause actual results to differ. These factors include but are not limited to: the ability of the Company to meet its contract or agreement obligations; the uncertain market for the Company's lithium battery cells; business, macroeconomic, technological, regulatory, or other factors affecting the profitability of battery cells designed for energy storage; and risks related to CBAK Energy's business and risks related to operating in China. Please refer to CBAK Energy's Annual Report on Form 10-K for the fiscal year ended December 31, 2019, as well as other SEC reports that have been filed since the date of such annual report, for specific details on risk factors. Given these risks and uncertainties, you are cautioned not to place undue reliance on forward-looking statements. CBAK Energy's actual results could differ materially from those contained in the forward-looking statements. CBAK Energy undertakes no obligation to revise or update its forward-looking statements in order to reflect events or circumstances that may arise after the date of this release.
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