New customer for iQ Power Asia in Nigeria as the gateway to Central Africa

  • New Order delivered to Customer in Nigeria
  • Plant visit of Nigerian Customer to inaugurate new customer relationship
  • The batteries are being shipped through Korean Distributor with sales in many countries

Zug / Gwangju, South Korea, 3 August 2015 – 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 a new customer of iQ Power Asia in Nigeria. iQ Power Asia delivers the first shipment of 2 sea containers (2.500 units) of Automotive Starter Batteries following the start up of the Korean factory, to the Nigerian market. The CEO of the Nigerian company SEARS INTERNATIONAL NIGERIA LIMITED, Mr. Nnamdi Benjamin Nwigwe will be distributing the batteries through his established nationwide network. The customer is being serviced by a local Korean distributor, who exports to many countries in the third world.
Bob Sullivan, CEO of iQ Power Asia, welcomed the Mr. Nnamdi Benjamin Nwigwe of SEARS INTERNATIONAL NIGERIA LIMITED for a visit to iQ Power Asia in Gwangju, Korea this week to discuss new product promotion programs. During the visit takes for a video were made which will air in TV commercials to be broadcast in Nigeria and neighboring countries. SEARS INTERNATIONAL NIGERIA LIMITED distributes a large number of consumer and automobile products imported from overseas.
Nigeria, with a population of 180 million people, is known as the gateway to Central Africa because many suppliers are attracted to its large market, which is funded through export sales of oil, mining and raw materials. There are over 16 million automobiles in the capital Lagos alone.
Besides Discover Energy and Daewoo International, iQ Power Asia has many other active exporters who supply countries as diverse as Russia, Indonesia and Guatemala. Since the change in management, iQ Power Asia has made good on all outstanding deliveries and many customers have started making regular monthly orders. Mr. Nnamdi has indicated that he will place orders for over 5.000 batteries per month and will grow the business quickly.
Batteries with iQ Power technology are designed to generate better performance in Start-Stop applications and to meet the growing demands of electronic usage in vehicles today. Electrolyte mixing is the first significant innovation to the flooded starter battery in decades. Automatic mixing of electrolyte inside the battery ensures uniform acid density for higher sustained performance throughout the entire life of the battery. This prolongs plate life by eliminating acid stratification and thermal gradients, delivering greater material utilization for a lower cost per cycle over conventional batteries. The patented technology was awarded the coveted Automechanika innovation award 1st prize in 2010.