iQ Power progress report on sales and production capacity

13.06.2016
  • First mixing batteries sent to Discover Energy’s German and Italian sales partners.
  • Batteries with iQ Power technology to be showcased at major Frankfurt Trade Fair Automechanika in September this year.
  • North American order increase following sales partners’ meeting with Discover Energy in Canada.
  • New sales partners in Bahrain and Dominican Republic.
  • Investments approved for capacity expansion in South Korean factory.

Zug, Switzerland 13 June 2016 – iQ Power Licensing AG (ISIN: CH0268536338; WKN/Security Number: A14M1C; Symbol: IQL) a developer and marketer of technologies for environmentally friendly and technologically innovative starter batteries for motor vehicles and licenses in these technologies, announces further progress in sales and marketing for the batteries produced by the key licensee, iQ Power Asia.

 

Europe
Following the completion of the passenger car product program, the first batteries with iQ Power mixing technology have just been shipped to Discover Energy´s German sales partner, AIM Batterie Vertriebs GmbH in Fürth. AIM is a major battery distributor in the German market and beyond. Although the AIM Group, with the brand Triathlon, is best known for the industrial battery market, they use their large distribution network also to distribute car batteries. The active marketing phase will commence in the late summer/early fall. In addition, the first shipment to Discover’s sales partner in Italy is scheduled to ship this month. These shipments mark the start of a major product launch for Discover Energy´s “Mixtech” brand in Europe. Discover Energy Corporation from Vancouver, Canada, is the key strategic partner of iQ Power Licensing AG.

In order to support the launch in Europe of the Mixtech brand using iQ Power technology, Discover Energy and IQ Power Licensing AG will showcase batteries and mixing technology at the prestigious Automechanika Frankfurt Trade Fair to be held from September 13 to September 17. The Automechanika is the largest trade fair for auto parts in the world and attracts visitors from all continents.

 

Other regions
Order volumes have increased markedly following a strategy meeting of Discover’s key sales partners, in which Bob Sullivan, CEO of iQ Power Licensing AG, made a presentation and answered questions about the iQ Power technology and the progress at the factory of iQ Power Asia, Korea. The Discover Energy Factory Warehouses and distribution partners represented many different regions and are among the largest battery distributors in North and South America.

One of the largest battery retailer in the Dominican Republic has just made the Mixtech battery, with iQ Power technology inside, its number one premium brand to promote to customers, replacing well-known market leaders as the top premium brand. The retailer made the switch based on the long-lasting performance experienced with a shipment of batteries from iQ Power Asia in 2011. The retailer reported about batteries produced in early 2011 in Korea and still running after five years in early 2016. Normally batteries last only one to two years due to the hot climate conditions and constant usage in the Dominican Republic.

iQ Power Asia, Korea, has just shipped the first batteries to Fakhro Motors in Bahrain. Fakhro Motors was formed in 2007 and consists of a multi franchised car sales division and workshop facility, which is part of the Abdulla Yousif Fakhro and Sons Group (AYFS), which represents a wide spectrum of companies in the customer services industry in the Kingdom of Bahrain. World renowned brand names such as the McDonalds restaurant chain, Mobil Oil and Dunlop Tires are just a few of the many exciting brands, where the AYFS Group has earned an excellent reputation for delivering first class customer service and satisfaction.

 

Operations
In order to support the anticipated increased sales activity, Discover Energy has approved plans to fund an equipment expansion purchase program for the plant of iQ Power Asia. The investment will allow the iQ Power Asia plant to double its current product capacity. Additional increases are now being planned.