|Expands into New Energy Industry to Seize |
Enormous Market Demand for Zero-emission Products
HONG KONG, Feb 27, 2014 - (ACN Newswire) - Sinocop Resources (Holdings) Limited ("Sinocop Res" or the "Group") (Stock Code: 476), is pleased to announce that its 75%-owned subsidiary Sinocop New Energy Technology Company Limited (the "Company"), a leading proprietary technology provider for lithium-ion polymer solid batteries, has secured a tender from the Hong Kong Productivity Council ("HKPC") for the design, fabrication and supply of Permanent Magnet Synchronized Motor ("PMSM") Systems and Power Battery Systems for first-ever local branded electric buses in Hong Kong.
In view of increasing public concern about poor air quality and the promotion of a zero-emission environment, the Company is working hand-in-hand with HKPC to promote and adopt the using of electric vehicles in Hong Kong. Under the terms of the tender, the Company is responsible to design and fabricate four PMSM traction systems, including the motor and the motor controller, and four power battery systems, including the electric vehicle battery pack, battery management system and on-board charger for electric buses. The project is expected to commence in February 2014 over 10 months with the systems delivered to HKPC in phases. It is expected that the tender will enhance the Group's income base in the long term and commence its market position in the new energy industry.
The company has achieved a technological breakthrough in the advanced design of solid state lithium polymers, in stark contrast to the traditional liquid form of traditional lithium batteries. The solid battery stands out with its light weight, compact size, low maintenance and high energy density which prolongs the life cycle of the product. The battery has earned a number of major safety certifications and utilised in a wide range of commercial applications and various special field applications, including electric vehicles which can travel long distances, outdoor equipment with environmental and reliable energy sources, weather stations with extreme temperature variances, UPS energy sources, etc.
Mr. Cheung Ngan, Chairman of Sinocop Res, said, "Our success in securing this tender marks another outstanding business opportunity for the Group to expand into the new energy market. Since the Group has captured the technology of the battery system for electric buses with the recognition from HKPC, the management of the Group will continue to seek for business opportunity to further integrate into the development of electric buses in Hong Kong market. In view of the increasing support from Government in China and various regions for zero-emission products, we see enormous potential in the market. Leveraging our first-mover advantage, we are confident that our professionalism and technical expertise would enable us to further grow as an industry leader."
About China Dynamics (Holdings) Limited
China Dynamics (Holdings) Limited and its subsidiaries (the "Group") is an integrated battery, motor and motor control solutions provider. Capitalising on its industrial leading technology, China Dynamics provides high-tech products widely used in daily life for customers.
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Source: China Dynamics (Holdings) Limited
Topic: Press release summary
Sectors: Daily Finance, Automotive, Energy, Daily News
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