Evercel Licenses Nickel-Zinc Battery Technology to CM Partner of Korea

June 29, 2006

HINGHAM, Mass., June 29, 2006 (PRIMEZONE) — Evercel Inc. (Other OTC:EVRC.PKNews) has granted an exclusive, worldwide license for its rechargeable nickel-zinc battery technology to CM Partner of Kyungkido, Korea. Under the terms of the 20-year license agreement, CM Partner will conduct all development, manufacturing, marketing and sales of Evercel batteries, for all potential applications and in all geographies.

The agreement calls for Evercel to receive a fixed sum for the technology rights, to be paid out of future sales, plus ongoing royalty payments for the duration of the license agreement. Financial terms were not disclosed. “We are pleased that our rechargeable nickel-zinc batteries will continue to be developed and marketed by an experienced manufacturer that has a clear vision of the potential that Evercel technology offers,” said Garry Prime, CEO of Evercel. “CM Partner is a respected company with global reach and we are confident that our batteries are in good hands.”

“The recent spike in the cost of energy around the world has created new interest and opportunities for innovative alternatives,” said Ben S. Lee, CEO of CM Partner. “The benefits of Evercel’s nickel-zinc batteries are ideally suited to capture new markets and new applications where energy efficiency is needed and valued.”

About Evercel

Hingham, Mass.-based Evercel is a multi-industry company whose operations include crab processing for both fresh and frozen markets, and sale of a disposable valve used in the treatment of critically ill patients on respirators. Evercel’s investments include Zipcar Inc. (car sharing) and Oxygen SpA. (light electric vehicles).

About CM Partner Inc.

Founded in 1987, CM Partner Inc. is one of the largest contract manufacturing service providers in Korea. CM Partner provides design, development and turn-key manufacturing solutions to industry, including automotive, industrial controls, and telecommunications companies.

Contact:

          Evercel Inc.
          Garry Prime
          (781) 740-1312


Source: Evercel, Inc.

Source: Yahoo

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2 Responses to “Evercel Licenses Nickel-Zinc Battery Technology to CM Partner of Korea”

  1. werrebrouck pascal said

    Geachte heer/mevrouw,

    Ik ben verzamelaar van (bal)pennen met reclame opdrukken.
    Balpennen ( stylo’s )worden vaak gegeven als aandenken of zijn één van
    de beste manieren om reclame te maken en ik hoop dat uw firma , zaak,
    er ook heeft met naam of logo van de firma of van uw producten.
    Misschien heeft u er zelf als reclame gekregen en liggen ze ergens aan de kant.
    Indien dit mogelijk is zou ik u willen vragen of u er a.u.b. enkele
    exemplaren zou willen opsturen.
    Tevens wens ik erbij te vermelden dat het enkel om mijn verzameling
    gaat en niet om commerciële doeleinden.
    Met vriendelijke groeten

    Pascal Werrebrouck
    Menensesteenweg 63
    8940 Wervik
    Belgie
    Pascal.werrebrouck@pandora.be

  2. manas said

    Great post. I find this to be a really fascinating topic and you put a new spin on it for me. Thanks! 🙂

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