Advanced Battery Technologies, Inc. (ABAT) Signs Major Contract
Advanced Battery Technologies ("ABT") is a Chinese company engaged in the development, manufacture, and distribution of advanced polymer lithium-ion (PLI) batteries. The company just signed its third major sales contract of 2008, valued at five million dollars. ABT will supply its rechargeable PLI battery cells to the Quanzhou Hongtian Science & Technology Development Co. (QHSTD), an LED lamp and searchlight manufacturer. ABT's cutting-edge cells will allow QHSTD to offer a brighter, longer-life handheld searchlight with an impressive illumination range of 1,000 meters (3,330 feet). ABT's CEO, Zhiguo Fu commented: "This contract of $5 million is our third major contract of…