Axeon Wins First HEV Battery Pack Contract

Axeon Holdings plc of Aberdeen, U.K., has won a contract to develop a 2kW Li-ion battery pack for a major European heavy-duty vehicle machinery manufacturer. Two prototype packs are planned to be delivered during the early part of 2Q07 for customer evaluation and demonstration. During 2006 Axeon successfully built its capability and customer pipeline in electric vehicle Li-ion battery packs and battery management systems. The programs are moving into volume production this year.