PowerGenix Chosen as a Technology Pioneer

The World Economic Forum has selected PowerGenix of San Diego, California, as one of 47 Technology Pioneers for 2007. The Technology Pioneers were nominated by the world's leading venture capital and technology companies and the final selection from 225 nominees was made by a panel of technology experts. PowerGenix has developed and patented a next-generation NiZn rechargeable battery technology suited as a replacement in high power nickel-cadmium and nickel metal-hydride applications. The company's initial products will target high-rate discharge applications such as cordless power tools and military applications; with longer-term plans to enter markets that include light electric bikes, scooters, and consumer AA/AAA rechargeable products.