Nasdaq GlobeNewswire

Lithium Werks and Endrich agree pan-Asian battery distribution deal

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AUSTIN, Texas, June 19, 2018 (GLOBE NEWSWIRE) -- Battery and portable power solutions group Lithium Werks B.V. has signed a strategic distribution agreement with Taipei, Taiwan-based distributor Endrich Co., Ltd to bolster its support for Asian customers.

"Demand for lithium batteries from Asian customers has been strong for a long time, but even so, we've seen nothing yet. We expect an enormous uptick in demand in the years ahead," said T. Joseph Fisher III, CEO and co-founder of Lithium Werks.

"With its unrivaled knowledge of Asian markets, Endrich is a trusted supplier to a number of tier-one ODMs (original design manufacturers) and OEMs (original equipment manufacturers).

"Together, we will continue to develop ever closer relationships with customers in markets such as Taiwan, Japan, South Korea and, not least, China, where we are preparing to build a lithium battery giga factory," he said.

"I have known Endrich for a long time, so I already know that this partnership will be beneficial, not only for them and for us, but also for our manufacturing and development customers, and therefore it will benefit consumers too," Mr Fisher said.

"Our tier-one ODM and OEM customers are impressed with Lithium Werks' ability to deliver long-lasting, safe and reliable battery solutions that are not only lighter and smaller than those offered by other companies, but often more cost-effective too," said Olivia Chang, CEO, Endrich.

"Lithium Werks is already a world leader in Lithium Iron Phosphate cells, modules and scalable power systems, to name but one area of strength," she said.

"This partnership will forge even closer relationships with tier-one ODMs and OEMs, and as we grow together, I am convinced that Lithium Werks' R&D (research and development) teams will continue to come up with revolutionary solutions," she said.

Lithium Werks specialises in Lithium Iron Phosphate technology, a lithium-ion chemistry that offers high thermal and chemical stability and is seen as the safest lithium-ion technology available today. The strategic cooperation builds on an existing relationship that has now become even stronger. 

About Lithium Werks B.V.
Lithium Werks is a fast-growing global lithium ion battery company with production facilities in China and offices in the USA, the Netherlands, Northern Ireland, Great Britain and Norway. Lithium Werks provides cells, modules, and battery management systems into markets such as material handling, stationary energy storage, medical, and commercial marine.

About Endrich
Endrich was founded in 2009 as a distributor of batteries and smart chargers, over time broadening its expertise to also include the integration of individual components in systems that deliver complete sustainable power solutions that have been designed to meet customers' requirements.
www.endrich.com.tw

Media contacts: 
Endrich:  
Endrich Press/Media relations 
Telephone +886 (0) 2 2697 2069
Lithium Werks: 
Lithium Werks Press/Media Relations 
Telephone +44 (0) 28 9084 5411




This announcement is distributed by Nasdaq Corporate Solutions on behalf of Nasdaq Corporate Solutions clients.
The issuer of this announcement warrants that they are solely responsible for the content, accuracy and originality of the information contained therein.
Source: Lithium Werks via Globenewswire

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