Alliance with Shorai Inc. Provides New Chemistry for Launch to eTailers, Retailers and Battery Specialists at 2012 Dealer Expo, Booth 4348
INDIANAPOLIS, IN – February 15, 2012 – (Motor Sports Newswire) – Universal Power Group, Inc. (NYSE Amex: UPG), a Texas-based distributor and supplier of batteries and related power accessories, today announced the launch of the Adventure Power® Phantom line of lithium-iron phosphate batteries for motorcycles and the powersports category. UPG also announced a new strategic alliance with Calif.-based Shorai Inc. (Shorai), a manufacturer of lithium iron-based powersports batteries, that will provide the technological expertise required for the development and production of the new Phantom line, which will be marketed by UPG. The companies made the announcement ahead of the Dealernews International Powersports Dealer Expo in Indianapolis, where UPG is introducing the capabilities of its latest, high-performance product line.
Under the terms of its agreement with Shorai, UPG will market a line of lithium iron phosphate-based batteries under the Phantom line, utilizing Shorai’s exclusive and world-leading eXtreme-Rate LiFeP04 cell technology. The lithium-based batteries offer several benefits over traditional lead-acid batteries including:
- Advanced LFP cell technology;
- Substantial weight reduction – less than 1.5 pounds, or one-fifth the average weight of lead acid batteries;
- Carbon composite case designed to military specifications;
- The capacity to hold a charge for up to one year without maintenance in most vehicles without a parasitic draw;
- Quicker starting, with fast cranking power and fast recharging;
- Environmentally conscious attributes, including no hazardous chemicals
“We are pleased to announce the growth of UPG’s Adventure Power series of motorcycle and powersports batteries and our alliance with Shorai, which creates an exciting opportunity to expand the breadth of our offerings,” said Ian Edmonds, UPG’s president and CEO. “This collaboration allows UPG to market new and innovative products to our customers, meeting their unique demands for lightweight and high-performance solutions. Working with Shorai also fits well with our long-term strategy of engaging with partners that have complementary technologies and strengths that we can leverage in our core markets.”
David Radford, President of Shorai Inc., commented, “We are pleased to work with UPG on expanding the reach and acceptance of our leading-edge battery technology beyond our core distribution channel of motorcycle dealers, and to access UPG’s broad distribution base of eTailers, retailers and battery specialists. We see many opportunities to market our advanced battery chemistry and features to meet the needs of motorcycle and powersports enthusiasts around the world, and this agreement will bring us closer to realizing that goal.”
The Phantom line is the latest, high-performance addition to the Adventure Power series, an extensive line of batteries designed for motorcycles, scooters, ATVs, personal watercraft, snowmobiles, and American V-Twins. The new lithium iron-batteries are designed to be a drop-in replacement for all OEM equipment and install in a matter of minutes. In addition, they are designed, engineered and tested in accordance with JASA’s JIS D 5302, the internationally accepted standard for powersports batteries.
UPG is introducing the new Phantom line at Booth 4348 at the Dealernews International Powersports Dealer Expo, which is being held Feb. 17-19 at the Indiana Convention center in Indianapolis. UPG expects the new Phantom line to be available to eTailers, retailers and battery specialists in the second quarter of 2012.
About Universal Power Group, Inc.
Universal Power Group, Inc. (NYSE Amex: UPG) is a leading supplier and distributor of batteries and power accessories, and a provider of supply chain and other value-added services. UPG’s product offerings include proprietary brands of industrial and consumer batteries of all chemistries, chargers, jump-starters, 12-volt accessories, and solar and security products. UPG’s supply chain services include procurement, warehousing, inventory management, distribution, fulfillment and value-added services such as sourcing, battery pack assembly and coordinating battery recycling efforts, as well as product development. For more information, please visit the UPG website at www.upgi.com.
Shorai Inc., located in Sunnyvale, CA, is a manufacturer of lithium iron based power sports batteries. The company was founded in 2010 by technology executive, David J. Radford, and corporate marketing executive, Kevin Riley. Further information regarding the company can be found at www.shoraipower.com.
Statements in this press release that are not statements of historical or current fact constitute “forward-looking statements.” Such forward-looking statements involve known and unknown risks, uncertainties and other unknown factors that could cause the Company’s actual operating results to be materially different from any historical results or from any future results expressed or implied by such forward-looking statements. In addition to statements that explicitly describe these risks and uncertainties, readers are urged to consider statements that contain terms such as “believes,” “belief,” “expects,” “expect,” “intends,” “intend,” “anticipate,” “anticipates,” “plans,” “plan,” to be uncertain and forward-looking. The forward-looking statements contained herein are also subject generally to other risks and uncertainties described from time to time in the Company’s filings with the Securities and Exchange Commission. Historical financial results are not necessarily indicative of future performance.
Universal Power Group, Inc.
Mimi Tan, SVP, 469-892-1122