MILTON, Ga., July 13, 2009 (GLOBE NEWSWIRE) -- Exide Technologies (Nasdaq:XIDE) (www.exide.com), a global leader in stored electrical-energy solutions, announced today that it has entered into a Cooperative Research and Development Agreement with the U.S. Department of Energy's Savannah River National Laboratory (SRNL) and the University of Idaho to develop and commercialize improvements on lead-acid battery technology.
SRNL is the applied research and development laboratory at the U.S. Department of Energy's Savannah River Site. This project is part of SRNL's diverse portfolio of research and development programs in support of the nation's energy security, which includes energy storage, hydrogen, nuclear energy, and renewables like wind and biofuels. The laboratory's scientists have recently developed unique glass microsphere technology now being considered and developed for a variety of commercial uses, including battery additives to enhance performance.
The chemical engineering team at the University of Idaho, led by Dean Edwards, Ph.D., P.E., Professor in Chemical Engineering, has more than 20 years of experience in academic research and development on enhancing lead-acid battery technology, particularly concerning additives to improve utilization of the active material in the battery.
With Exide Technologies as the industrial partner, these two research institutions can collaborate on their unique strengths, with Exide providing the resources to commercialize the technologies to improve lead-acid battery performance. Exide anticipates the alliance to expedite development of advancements in lead-acid chemistry for use in enhanced product development and broaden opportunities in new markets for hybrid electric vehicles and renewable energy storage.
The Cooperative Research and Development Agreement will be directed by the Global Research, Development and Engineering organization at Exide Technologies, led by Dr. Paul Cheeseman, Vice President, Global Engineering and Research. Exide expects the alliance to reinforce its multi-dimensional structure of expertise, fueling the Company's ability to improve both the efficiency and competitiveness of its product portfolio and expediting the development of advanced lead-acid batteries. The new agreement is another example of Exide's commitment to future lead-acid battery technologies and follows recent collaborations with Axion Power International, Inc. (a developer of advanced batteries and energy storage products that incorporate patented lead carbon battery PbC Technology), and Nano-Terra (a leading surface engineering and nanotechnology co-development company).
"We expect our partnership with Exide to help drive development of improved battery materials, such as cathode plates, to enhance lead-acid battery performance in terms of charging capacity and charging cycle times while lowering material costs and weight," said Dr. David Newell, who is leading SRNL's participation in this collaborative research and development.
Lead-acid batteries, which are used for transportation and stand-by applications, account for half of the rechargeable battery market. Although alternative battery chemistries are growing in popularity, such chemistries are not expected to diminish the demand for lead-acid.
"The advantage to our newest R&D partnership is that we are not planning to explore untested technologies that can take years of testing and evaluation to determine whether they are economically and functionally viable for the commercial market," said Dr. Cheeseman. "Rather, our collaboration is intended to advance the proven and reliable lead-acid battery chemistry. Lead-acid batteries are being manufactured, utilized in countless installations, and, equally important, recycled at a rate of 98 percent in the United States."
Increasing the performance of batteries, including extending battery life and/or increasing charging capacity will support the DOE-Energy Efficiency and Renewable Energy mission of providing improved, reliable energy sources.
"Lead-acid batteries are expected to be increasingly viable for supporting the nation's electric grid as well as supporting stand-alone backup power to alternative energy systems (solar and wind)," said Dr. Edwards of the University of Idaho. "This is because lead-acid batteries are used in a variety of applications where improved battery performance could translate into energy savings."
About Exide Technologies
Exide Technologies, with operations in more than 80 countries, is one of the world's largest producers and recyclers of lead-acid batteries. The Company's four global business groups -- Transportation Americas, Transportation Europe and Rest of World, Industrial Energy Americas and Industrial Energy Europe and Rest of World -- provide a comprehensive range of stored electrical energy products and services for industrial and transportation applications.
Transportation markets include original-equipment and aftermarket automotive, heavy-duty truck, agricultural and marine applications, and new technologies for hybrid vehicles and automotive applications. Industrial markets include network power applications such as telecommunications systems, electric utilities, railroads, photovoltaic (solar-power related) and uninterruptible power supply (UPS), and motive-power applications including lift trucks, mining and other commercial vehicles.
Further information about Exide, including its financial results, are available at www.exide.com.
The Exide Technologies logo is available at http://www.globenewswire.com/newsroom/prs/?pkgid=5067
About Savannah River National Laboratory (SRNL)
SRNL is the U.S. Department of Energy's applied research and development national laboratory at the Savannah River Site, near Aiken, S.C. SRNL puts science to work to support DOE and the nation in the areas of environmental management, national and homeland security, and energy security. The management and operating contractor for SRS and SRNL is Savannah River Nuclear Solutions, LLC. SRNL has more than three decades of experience developing, processing and deploying special ceramics, including various porous materials, for a variety of purposes. That expertise led to the development of patented new materials and systems, which have the potential for application in a variety of uses, including storage and handling of gases, sensor technologies, global warming applications, new medical drug delivery systems, and battery improvements.
For information, visit srnl.doe.gov.
About the University of Idaho
Founded in 1889, the University of Idaho is the state's flagship higher-education institution and its principal graduate education and research university, bringing insight and innovation to the state, the nation and the world. University researchers attract nearly $100 million in research grants and contracts each year; the University of Idaho is the only institution in the state to earn the prestigious Carnegie Foundation ranking for high research activity. The university's student population includes first-generation college students and ethnically diverse scholars. Offering more than 150 degree options in 10 colleges, the university combines the strengths of a large university with the intimacy of small learning communities.
For information, visit www.uidaho.edu.
Forward-Looking Statements
Except for historical information, this press release may be deemed to contain "forward-looking" statements. The Company is including this cautionary statement for the express purpose of availing itself of the safe harbor provisions of the Private Securities Litigation Reform Act of 1995.
Examples of forward-looking statements include, but are not limited to, (a) projections of revenues, cost of raw materials, income or loss, earnings or loss per share, capital expenditures, growth prospects, dividends, the effect of currency translations, capital structure and other financial items, (b) statements of plans and objectives of the Company or its management or Board of Directors, including the introduction of new products, or estimates or predictions of actions by customers, suppliers, competitors or regulating authorities, (c) statements of future economic performance and (d) statements of assumptions, such as the prevailing weather conditions in the Company's market areas, underlying other statements and statements about the Company or its business.
Factors that could cause actual results to differ materially from these forward-looking statements include, but are not limited to, the following general factors such as: (i) the fact that lead, a major constituent in most of the Company's products, experiences significant fluctuations in market price and is a hazardous material that may give rise to costly environmental and safety claims, (ii) the cyclical nature of the industries in which the Company operates and the impact of current adverse economic conditions on those industries, (iii) unseasonable weather (warm winters and cool summers) which adversely affects demand for automotive and some industrial batteries, (iv) competitiveness of the battery markets in the Americas and Europe, (v) risks involved in foreign operations such as disruption of markets, changes in import and export laws, currency restrictions, currency exchange rate fluctuations and possible terrorist attacks against U.S. interests, and (vi) the ability to acquire goods and services.
Therefore, the Company cautions each reader of this press release carefully to consider those factors set forth above and those factors described in the Company's annual report on Form 10-K filed on June 4, 2009. Such factors and statements have, in some instances, affected and in the future could affect the ability of the Company to achieve its projected results and may cause actual results to differ materially from those expressed herein. We undertake no obligation to update and forward-looking statements in this press release.