BAT expands its corporate base by three subsidiaries and two acquisitions.BURBANK, Calif.--(BUSINESS WIRE)--Oct. 31, 1996--In June 1996, BAT International (OTC/BB:BAAT BAAT British Association of Art Therapists ) announced that it had created four subsidiary companies in order to commercialize several of its transportation technologies. -- BAT California (West Coast manufacturing of electric vehicles) -- Dolphin Automotive Co. (development of hybrid-electric and low emission vehicles) -- Ultra Force Ultra Force was a PC demoscene group from The Netherlands, active from 1989–1993 with publicly released demos. They were the first PC group to release a true 3D demo, in 1991, entitled VectorDemo. This demo could be seen on display at many computer trade shows. Battery Co. (development of advanced battery systems) -- BAT Electrobike (development/manufacturing of electric bikes, tricycles) BAT International's corporate strategy is to spin off these divisions so that they can operate as individual corporations, including separate management, financial planning Financial planning Evaluating the investing and financing options available to a firm. Planning includes attempting to make optimal decisions, projecting the consequences of these decisions for the firm in the form of a financial plan, and then comparing future performance against , product development, production and marketing. This strategy relieves BAT International of its operating functions to concentrate on developing and acquiring additional strategic technologies for the 21st Century. Proceeding with this corporate strategy, BAT has recently spun off three more subsidiary companies: BAT Northeast: (See news release dated Sept. 13, 1996) Manufacturing of electric and hybrid electric vehicles A hybrid electric vehicle (HEV) is a vehicle which combines a conventional propulsion system with an on-board rechargeable energy storage system (RESS) to achieve better fuel economy than a conventional vehicle without being hampered by range from a charging unit like an including vans and buses, and development of low emission diesel engines for the East Coast. It will spearhead efforts to establish a cold climate battery consortium. Zinc Air A battery technology that provides more charge per pound or size than nickel cadmium or nickel metal hydride and does not suffer from the memory effect. It uses a carbon membrane that absorbs oxygen, a zinc plate and potassium hydroxide as the electrolyte. Transportation: (See news releases dated July 16, 1996, and July 30, 1996) Currently developing and testing zinc air batteries for electric vehicles in conjunction with Kummerow Corp. BAT International has ordered virtually all of Kummerow's non-European electric vehicle batteries in 1996 and 60 percent in 1997. Corporate plans include a U.S. manufacturing facility by year end 1997. BAT India: Developing of inexpensive, lightweight, durable and environmentally friendly Environmentally friendly, also referred to as nature friendly, is a term used to refer to goods and services considered to inflict minimal harm on the environment.[1] vehicles for India and other countries. Design of these vehicle and component are well under way. BAT plans to test prototypes in the next six to nine months. Numerous developing countries have expressed strong interest in this mini-car. Acquisitions during the last four months: Kummerow NA (20 percent stake): Kummerow NA has worldwide manufacturing and distribution rights outside Europe for the Kummerow Zinc-Air Battery Zinc-air batteries, also called “zinc-air fuel cells,“ are non-rechargeable electro-chemical batteries powered by the oxidation of zinc with oxygen from the air. These batteries have very high energy densities and are relatively inexpensive to produce. . BAT's ownership in Kummerow NA is in addition to BAT and Kummerow's existing licensing agreement. Environmental Solutions (100 percent stake): Environmental Solutions has been working hand in hand with BAT over the past two years. It has lobbied in Washington, D.C., California, New York New York, state, United States New York, Middle Atlantic state of the United States. It is bordered by Vermont, Massachusetts, Connecticut, and the Atlantic Ocean (E), New Jersey and Pennsylvania (S), Lakes Erie and Ontario and the Canadian province of , and other states for environmentally friendly EV laws. Environmental Solutions is an intervenor in a California Public Utilities Commission The California Public Utilities Commission (CPUC; also often commonly referred to as simply the PUC) [1] is a state Public Utilities Commission which regulates privately-owned utilities in the state of California, including electric power, proceeding on Low Emission Vehicles. Environmental Solutions has significant expertise in grant writing and management. It has assisted BAT in securing and administering grant contracts with the U.S. Postal Service The U.S. Postal Service (USPS) processes and delivers mail to individuals and businesses within the United States. The service seeks to improve its performance through the development of efficient mail-handling systems and operates its own planning and engineering programs. , Department of Defense (DARPA/HEVDP), and DOD/SBIR. BAT has now launched seven subsidiary companies via arms-length licensing arrangements and royalty agreements which involve various stock and option ownership positions by BAT. BAT's intentions are to continue with its subsidiary and acquisition program (including licensing) of clean, efficient transportation technologies. CONTACT: BAT International, Burbank Joseph P. LaStella, 818/565-5555 818/565-5559 (fax) |
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