Arotech Awarded Contract To
Develop Lithium Battery For Hybrid Electric Vehicles
First prototypes to be delivered
in the first quarter of 2013
25, 2012 - Arotech Corporation (Nasdaq: ARTX) announced today
that its Battery and Power Systems Division has received an order
to develop prototypes for a lithium battery for hybrid electric
The order to develop three prototype
batteries was placed by an unnamed German automotive supply company.
The first prototypes are due to be delivered in the first quarter
This contract marks Arotech's entry into the fast-growing field
of hybrid electric vehicles. Through the end of September 2012,
more than 5.2 million hybrid electric vehicles had been sold worldwide.
Arotech has substantial know-how
in large format battery technology, having in the past, under its
Electric Fuel name, successfully developed zinc air batteries that
powered electric vehicles more than 250 kilometers in a single discharge.
"This is our second notable
contract for large format lithium ion, and represents a strategic
step to balance our significant and growing business in the military
power sources market," noted Arotech Chairman and CEO Robert
S. Ehrlich. "Having learned important lessons from our previous
foray into the electric vehicle market, we are determined to minimize
risk by only undertaking profitable projects," continued Ehrlich.
"We believe that between grid storage and electric vehicles
there is significant promise for large format lithium ion. With
our extensive know-how in lithium batteries and their power management,
this is the ideal time for us to enter this emerging market,"
About Arotech's Battery and Power
Arotech's Battery and Power Systems
Division is a leading provider of primary and rechargeable batteries
and chargers for defense and other military applications. Arotech
develops and produces high power zinc-air batteries and is believed
to be the sole supplier of this technology to the U.S. military.
In addition, Arotech develops high-end primary and secondary batteries
and associated chargers and has vast experience in working with
government agencies, the military and large corporations.
The Battery and Power Systems Division consists of Electric Fuel
Battery Corporation and Epsilor-Electric Fuel Ltd.
About Arotech Corporation
Arotech Corporation is a leading provider of quality defense and
security products for the military, law enforcement and homeland
security markets. Arotech provides multimedia interactive simulators/trainers
and advanced zinc-air and lithium batteries and chargers. Arotech
operates through two major business divisions: Training and Simulation,
and Batteries and Power Systems.
Arotech is incorporated in Delaware, with corporate offices in Ann
Arbor, Michigan and research, development and production subsidiaries
in Alabama, Michigan and Israel.
Victor Allgeier, TTC Group, (646) 290-6400, firstname.lastname@example.org
for the historical information herein, the matters discussed in
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in the Private Securities Litigation Reform Act of 1995. Forward-looking
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results to vary materially. These risks and uncertainties include,
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development; the uncertainty of the market for Arotech's products;
changing economic conditions; delay, cancellation or non-renewal,
in whole or in part, of contracts or of purchase orders; Arotech's
ability to remain listed on the Nasdaq Stock Market in accordance
with the Nasdaq's $1.00 minimum bid price and other continued listing
standards; and other risk factors detailed in Arotech's most recent
Annual Report on Form 10-K for the fiscal year ended December 31,
2011 and other filings with the Securities and Exchange Commission.
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