EVANSVILLE, Ind., May 4, 2017 /PRNewswire/ -- Integral Technologies, Inc. (OTC-PK: ITKG) ("Integral"), and its wholly owned subsidiary ElectriPlast Corporation, announced that it is in advanced discussions with a major Asian lead acid battery manufacturer regarding the use of Integral's industry changing bi-polar plate technology. The prospective collaboration would provide the Asian battery company with the most advanced bi-polar plates for the lead acid battery market. The battery company was impressed with the technology and sees great promise when the bi-polar plates are implemented into their lead acid bi-polar battery product line. The Integral bi-polar plate allows greater specific energy and energy density of the lead acid battery, which translates to significantly greater energy storage in the smaller size and weight battery package. Bi-polar battery design brings simplicity to battery construction and assembly process and greater flexibility in selection of battery shape. Bi-polar plate technology and bi-polar lead acid battery construction enables lead acid batteries to compete with other battery chemistries for new automotive applications.
After a recent meeting in the Pacific Rim facilitated by Gene Song, Integral Asia's CEO, both parties agreed that Integral will supply batteries with ElectriPlast plates for validation testing. The batteries purchased by the Asian company will be engineered to meet their unique requirements. "The testing of the bi-polar batteries is a key step in conducting their internal test and review process," stated James Eagan, CEO of ElectriPlast Corporation. "The objective of the Asian company is to adopt our technology after they have successfully completed their technical due diligence."
Integral also announced the latest advances to its bi-polar plate. The engineering team developed a process that enables the joining of dissimilar materials to its conductive bi-polar plastic plates. "This breakthrough was possible through a partnership with a leading US based institute specializing in high volume manufacturing," stated Slobodan ("Bob") Pavlovic, ElectriPlast's Vice President of Engineering and the inventor of Integral's bi-polar plate. "Our patent pending bi-polar plate was designed to ensure that battery manufacturers are able to take full advantage of uncomplicated, low cost manufacturing processes and this improvement helps to achieve that goal."
"We have seen the battery industry showing greater interest in our bi-polar plate technology which we believe will create new opportunities for the lead acid battery industry as a whole," stated Doug Bathauer, CEO of Integral. "We continue to work with The Ultimate Battery Company to fulfill the terms of our MOU, while also exploring other opportunities in Asia, including with companies in India and Malaysia."
About Integral Technologies, Inc.
Integral Technologies Inc. (ITKG) and wholly owned subsidiary ElectriPlast Corp, engage in the discovery, development, and commercialization of electrically conductive hybrid plastics used primarily as raw material in the production of industrial, commercial and consumer products worldwide. Its core material, ElectriPlast®, is a non-corrosive, electrically conductive resin-based material whose properties allow it to be molded into any of the infinite shapes and sizes associated with plastics, while reducing component weight by 40 to 60%. Integral is a leader in conductive hybrid plastics with a broad Intellectual Property portfolio referencing its ElectriPlast technology. Applications for ElectriPlast include: Shielding, Wire, Power Electronics, Connectors, and Cables; Shielding, Conduction, Batteries, Semiconductors, Heated Elements, Sensors, Antennas, Medical Devices, Consumer Electronics and Acoustics, Fuses, Capacitors, Resistors, RFID, and Batteries.
Safe Harbor Statement
This press release contains "forward-looking statements'' within the meaning of Section 27A of the 1933 Securities Act and Section 21E of the 1934 Securities Exchange Act. These statements include, without limitation, predictions and guidance relating to the company's future financial performance and the research, development and commercialization of its technologies. In some cases, you can identify forward-looking statements by terminology such as, "may," "should," "expects," "plans," "anticipates," "believes," "estimates," "predicts," "potential," "continue," or the negative of these terms or other comparable terminology. These forward-looking statements are based on management's current expectations, but they involve a number of risks and uncertainties. Actual results and the timing of events could differ materially from those anticipated in the forward-looking statements, as the result of such factors, risks and uncertainties as (1) competition in the markets for the products and services sold by the company, (2) the ability of the company to execute its plans, (3) other factors detailed in the company's public filings with the SEC, including, without limitation, those described in the Company's annual report on Form 10-K for the year ended June 30, 2016 as filed with the Securities and Exchange Commission and available at www.sec.gov, and (4) the parties may be unable to agree upon definitive agreements. You are urged to consider these factors carefully in evaluating the forward-looking statements
Contacts:
Corporate/Media Inquiries/Investor Inquiries:
812.550.1770
itkginquiry@itkg.net
To view the original version on PR Newswire, visit:http://www.prnewswire.com/news-releases/electriplast-provides-bi-polar-battery-update-300451504.html
SOURCE Integral Technologies, Inc.