Vancouver, B.C. October 28, 2020. Extreme Vehicle Battery Technologies Corp. (the “Company”) (CSE: ACDC) is pleased to announce that it is bringing its proprietary blockchain technology to the battery industry.
The Company’s blockchain platform, which was originally designed for use in the financial markets, has strong tracking and control features related to customer, operator, and intellectual property data verification. The technology also provides distribution and billing services. In response to the recent increased demand for technological advancements in the battery industry required to meet the industry’s rapidly growing needs, the Company has begun adapting its blockchain technology to meet this demand.
The market standard within the battery industry, and particularly the energy storage systems (ESS), electric vehicle (EV) charging, and battery management system (BMS) markets, is shifting to blockchain technology. This shifting requirement was recently highlighted when the Mobility Open Blockchain Initiative (“MOBI”) released the world’s first Electric Vehicle Grid Integration (“EVGI”) standard for using blockchain technology to protect private user data in electric vehicle charging systems. The MOBI and EVGI working group, which is led by General Motors and Honda, signals a coming era of new design systems that will cover vehicle to grid (V2G) Integration, tokenized carbon credits (TCC) and peer to peer (P2P) applications1.
The Company believes that blockchain technology will be key to the successful execution of this design system. Major companies around the world such as Toyota, Omega, Grid, EDF, BMW, Nissan and Fiat Chrysler have all started working towards these initiatives1.
The Company intends to immediately commence working with its technology partners to integrate its blockchain platform into its newly-acquired battery technology. This harmonization of technologies, aimed at developing state-of-the-art battery products and services, represents the Company’s new strategic vision. As the industry’s major players pave the way for the transition to smart grid integrated ESS and EV charging stations with back end blockchain support, the Company aims to be a serious competitor in this new market.
“The recent agreement to obtain exclusive rights for a patented battery technology will allow us to achieve market penetration with a proprietary blockchain infrastructure. The combination of superior battery technology and secure blockchain data protection ensures we may be on the cutting edge of a game-changing technological evolution,” commented Bryson Goodwin, President and CEO.
On behalf of the Company,
Bryson Goodwin, Chief Executive Officer.
Further information about the Company is available under its profile on the SEDAR website,
www.sedar.com, on the CSE website, www.thecse.com, and on its website.
The CSE (operated by CNSX Markets Inc.) has neither approved nor disapproved of the contents of this press release.
About EV Battery Technologies
EV Battery Tech is a blockchain and battery technology company with exclusive North and South American distribution rights as well as European and African distribution rights to patented battery management systems (BMS) designed to meet the growing demand for scalable, smart solutions for the electric vehicle (EV) and energy storage solution (ESS) markets.
EV Battery Tech’s technology is based on artificial intelligence (AI) algorithms designed to analyze the short comings of batteries in today’s market. The resulting extraordinary technology allows batteries to have more efficient power management and longer battery life, while offering real-time monitoring and remote maintenance.
The Company’s AI technology will also allow it to use recycled batteries in its ESS manufacturing process, making it one of the greenest battery technology companies in the industry.
1 – Source: Ledger Insights (www.ledgerinsights.com/transcript-sec-occ-panel-discussion-on-digital-asset-regulation/)
The information in this news release includes certain information and statements about management’s view of future events, expectations, plans and prospects that constitute forward looking statements. These statements are based upon assumptions that are subject to risks and uncertainties. Forward looking statements in this news release include, but are not limited to, statements relating to: the risks associated with emerging markets, the Company’s plan to integrate its blockchain platform into its new battery technologies and capitalize on a new and growing market; market trends in the battery industry; and the Company’s battery technology partnership. Although the Company believes that the expectations reflected in forward-looking statements are reasonable, it can give no assurances that the expectations of any forward-looking statement will prove to be correct. Except as required by law, the Company disclaims any intention and assumes no obligation to update or revise any forward looking statements to reflect actual results, whether as a result of new information, future events, changes in assumptions, changes in factors affecting such forward looking statements or otherwise.