Contact Information: PowerGenix Contact: Joseph Carcone Vice President Business Development 858.547.7300 joe.carcone@powergenix.com www.powergenix.com Agency Contact: Jennings & Associates PJ Jennings 760.431.7466 pj@jandacommunications.com www.jandacommunications.com
PowerGenix Selected as a Technology Pioneer by the World Economic Forum
Innovative Zinc Battery Technology Honored
| Source: PowerGenix, Inc.
SAN DIEGO, CA -- (MARKET WIRE) -- December 4, 2006 -- PowerGenix, Inc. (www.powergenix.com), a
leading developer of high-rate discharge, rechargeable nickel-zinc (NiZn)
batteries, today announced that the World Economic Forum selected
PowerGenix as one of 47 Technology Pioneers for 2007. The Technology
Pioneers were nominated by the world's leading venture capital and
technology companies. The final selection from 225 nominees was made by a
panel of leading technology experts appointed by the World Economic Forum.
Technology Pioneers for 2007 are invited to attend the Annual Meeting of
the World Economic Forum to be held January 24-28 in Davos, Switzerland.
PowerGenix has developed and patented a next-generation NiZn rechargeable
battery technology especially suited as a replacement in high power
nickel-cadmium (NiCd) and nickel metal-hydride (NiMH) applications.
PowerGenix's initial products will target high-rate discharge applications
such as cordless power tools and military applications, with longer-term
plans to enter markets including light electric bikes and scooters as well
as the consumer AA/AAA rechargeable products category. The company's
battery technology offers key strategic advantages including
high-performance,
low-cost and safety -- all without the toxic environmental impact
associated with today's commonly used rechargeable nickel-cadmium
batteries.
"We're honored to be chosen as a Technology Pioneer for 2007," said Dan
Squiller, CEO of PowerGenix. "Our patented nickel-zinc technology allows us
to produce rechargeable batteries that are small, light weight, high power
and environmentally friendly for a broad range of global applications.
We're very pleased that we have been recognized for our work from such a
prestigious organization," added Squiller.
Technology Pioneers are companies that have been identified as developing
and applying highly transformational and innovative technologies in the
areas of energy, biotechnology and health, and information technology. This
year's class of companies has been selected not only because of the
cutting-edge work undertaken by these organizations, but also because their
work has potential long-term impact on business and society.
"The competition to become a Technology Pioneer has been more intense than
ever. It is evident that technology and innovation is playing a key role in
the shifting power equation at a global level. Driving this shift is the
tremendous amount of innovation taking place outside of traditional
technology hubs. The wide geographic spread of this year's Technology
Pioneers is a testament to this trend. We are pleased to welcome these
exciting companies to our Community of Technology Pioneers, and look
forward to engaging these industry leaders of the future into the community
of the World Economic Forum," said Peter Torreele, managing director of the
World Economic Forum.
To be selected as a Technology Pioneer, a company must be involved in the
development of life-changing technology innovation and have the potential
for long-term impact on business and society. In addition, it must
demonstrate visionary leadership, show all the signs of being a
long-standing market leader -- and its technology must be proven. Previous
Technology Pioneers have included Autonomy, Cambridge Silicon Radio, Encore
Software, Google, Millennium Pharmaceuticals and Napster.
About PowerGenix:
Founded in 2000 and located in San Diego, Calif., PowerGenix has developed
and patented a high-energy density, high-cycle life and low-cost
nickel-zinc (NiZn) battery that is specifically designed to utilize
existing nickel-cadmium (NiCd) manufacturing processes, techniques and
equipment, thereby significantly reducing time-to-market and eliminating
costly equipment design steps. With its patented rechargeable NiZn battery
technology, PowerGenix is pursuing applications to replace existing NiCd
and nickel-metal hydride (NiMH) batteries in the multi-billion dollar
rechargeable battery market.