Bulgaria's Monbat Buys Licence for Advanced Battery Concepts' Greenseal

Bulgaria's Monbat Buys Licence for Advanced Battery Concepts' Greenseal

Bulgarian battery manufacturer Monbat [BUL:5MB] said that it has acquired licensing rights for the full suite of GreenSeal Bipolar Lead battery technologies of US-based Advanced Battery Concepts. As at 13:35 CET on Friday, Monbat shares traded 2.63% higher at 7.8 levs ($4.55/3.99 euro). "We have seen the competitive advantages GreenSeal technology offers to us as a Lead battery manufacturer and to our customers and we envisage many potential applications that will allow us to strengthen and further develop our market presence worldwide," Atanas Bobokov, CEO and chairman of Monbat's board of directors, said in a statement after the Sofia bourse closing hours on Thursday. The technology simplifies the lead battery manufacturing process and improves lead battery performance by increasing cycle life, lowering weight, reducing recharge time and improving reliability.

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