C&D Technologies, Inc. (NYSE: CHP) announced today that it has reached agreement with Edison Source, to co-brand a new fast-charge motive battery charging technology.
"We are excited to announce this partnership with Edison Source, which will provide a best-in-class fast-charge solution for the motive power market. Fast-charge systems address a growing market segment that is new to C&D, where rapidly charging batteries during employee rest periods, like lunch breaks, eliminates daily battery change outs performed by our customers," said Dr. Jeffrey Graves, President and Chief Executive Officer for C&D Technologies. "Over the last several years, many of our large end-users have trialed and rigorously tested fast-charge systems and these results have demonstrated that the rugged C-line Classic battery technology design coupled with Edison's Minit-Charger technology proved the most reliable and longest life fast-charge system on the market. We estimate that this growing segment of the market currently comprises over 10% of the North American motive power end-use and expect rapid customer conversion to this new and highly efficient technology."
Leonard Kiely, Vice President and General Manager of the Power Systems Division, continued, "The C-Line Fast-Charge System is one of many exciting motive power products that C&D will be introducing to the market over the next several months. These products will continue to improve C&D's presence and impact in the motive power market."
This press release may contain forward-looking statements (within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934), which are based on management's current expectations and are subject to uncertainties and changes in circumstances. Words and expressions reflecting something other than historical fact are intended to identify forward-looking statements, but are not the exclusive means of identifying such statements. Factors that appear with the forward-looking statements, or in the company's Securities and Exchange Commission filings (including without limitation the company's annual report on Form 10-K for the fiscal year ended January 31, 2006, or the quarterly and current reports filed on Form 10-Q and Form 8-K thereafter), could cause the company's actual results to differ materially from those expressed in any forward-looking statements made herein.
About C&D Technologies, Inc.
C&D Technologies provides solutions and services for the switchgear and control (utility), motive (material handling), telecommunications, and uninterruptible power supply (UPS) as well as emerging markets such as solar power. C&D Technologies engineers, manufactures, sells and services fully integrated reserve power systems for regulating and monitoring power flow and providing backup power in the event of primary power loss until the primary source can be restored. C&D Technologies' unique ability to offer complete systems, designed and produced to high technical standards, sets it apart from its competition. C&D Technologies is headquartered in Blue Bell, PA. For more information about C&D Technologies, visit http://www.cdtechno.com.
Minit-Charger is a proud part of the Edison International (EIX) family of companies. Edison Minit-Charger is a product of EIX's Edison Source subsidiary. EIX is a California-based energy company that has combined assets totaling more than $33 billion; $12 billion in annual revenues.
C&D(R) is a registered trademark of C&D Technologies, Inc.