S&P 500
7,226.20
+0.01%
Dow Jones
49,494.60
-0.62%
Nasdaq 100
27,685.40
+0.66%
Russell 2000
2,804.78
-0.02%
FTSE 100
10,364.50
0.00%
Nikkei 225
59,260.50
-0.78%

Investing

Advanced Battery Tech Signs $5M Pact In China (ABAT)

Photo of Douglas A. McIntyre
By Douglas A. McIntyre Published
Follow 24/7 Wall St. on Google
This post may contain links from our sponsors and affiliates, and Flywheel Publishing may receive compensation for actions taken through them.

Advanced Battery Technologies, Inc. (NASDAQ: ABAT) has signed a contract with Quanzhou Hongtian Science & Technology Development Co., Ltd. (QHSTD) in a deal valued at some $5 million.  Advanced Battery Technologies, Inc. develops, manufactures, and distributes rechargeable polymer lithium-ion (PLI) battery cells for use in electric vehicles, mining equipment, and a variety of other consumer electronics.

The PLI cells being sold to QHSTD will be utilized to power a new generation of high-power and long life handheld searchlights for a brighter and lighter searchlight with a range of lighting up to 1,000 meters (close to 3,300 feet) and over 10 hours of continuous discharging time.

The company also noted that back in January it signed a $23.4 million contract.  Its market cap sits at $248 million before the 4% rise pre-market and its entire revenues in 2007 were $31.898 million.

Jon C. Ogg
June 24, 2008

Photo of Douglas A. McIntyre
About the Author Douglas A. McIntyre →

Douglas A. McIntyre is the co-founder, chief executive officer and editor in chief of 24/7 Wall St. and 24/7 Tempo. He has held these jobs since 2006.

McIntyre has written thousands of articles for 24/7 Wall St. He is an expert on corporate finance, the automotive industry, media companies and international finance. He has edited articles on national demographics, sports, personal income and travel.

His work has been quoted or mentioned in The New York Times, The Wall Street Journal, Los Angeles Times, The Washington Post, NBC News, Time, The New Yorker, HuffPost USA Today, Business Insider, Yahoo, AOL, MarketWatch, The Atlantic, Bloomberg, New York Post, Chicago Tribune, Forbes, The Guardian and many other major publications. McIntyre has been a guest on CNBC, the BBC and television and radio stations across the country.

A magna cum laude graduate of Harvard College, McIntyre also was president of The Harvard Advocate. Founded in 1866, the Advocate is the oldest college publication in the United States.

TheStreet.com, Comps.com and Edgar Online are some of the public companies for which McIntyre served on the board of directors. He was a Vicinity Corporation board member when the company was sold to Microsoft in 2002. He served on the audit committees of some of these companies.

McIntyre has been the CEO of FutureSource, a provider of trading terminals and news to commodities and futures traders. He was president of Switchboard, the online phone directory company. He served as chairman and CEO of On2 Technologies, the video compression company that provided video compression software for Adobe’s Flash. Google bought On2 in 2009.

Featured Reads

Our top personal finance-related articles today. Your wallet will thank you later.

Fed’s Rate Freeze Could Sting for Social Security Recipients
Maurie Backman |

Fed’s Rate Freeze Could Sting for Social Security Recipients
'Convert $100,000 a Year to Get Them to the Top of the 22%': The Roth Plan for a Couple With $2.3M in 401(k)s
Jeremy Phillips |

'Convert $100,000 a Year to Get Them to the Top of the 22%': The Roth Plan for a Couple With $2.3M in 401(k)s

Continue Reading

Douglas A. McIntyre |

Advanced Batteries: The Next Ethanol? (ALTI, ACPW, BCON, XIDE, ENS, CHP, AXPW)

There’s a fair amount of interest from green energy market watchers in the battery market. Many see this as the…
Douglas A. McIntyre |

Tech Issues Ahead of CES 2010 (MMM, UPG, PLXT, INTU, NETL, GRMN, GOOG, S, TXCC, INTC, AMD, AAPL)

It is the first week of January, which means one thing for lovers of consumer electronics: CES, the Consumer Electronics…
247sarah |

Toyota Bets Against Battery Electric Cars

Toyota To hear some analysts and auto enthusiasts tell it, it’s a done deal: The car of the future will…
Douglas A. McIntyre |

The 25 Most Important Alternative Energy Companies

Alternative energy is big business — and getting bigger. The industry includes hundreds of companies that make a piece of…
Trey Thoelcke |

Plug Power Shares Drop After Joint Venture News

Plug Power has announced that it signed a non-binding agreement with Hyundai Hyscoto form a joint venture partnership that will…
Can Shares of QuantumScape Hit $15 Again?
Ian Cooper |

Can Shares of QuantumScape Hit $15 Again?

Over the last few weeks, shares of QuantumScape (NYSE: QS | QS Price Prediction) exploded from a low of about…
GM Promises EV Profitability in 3 Years With Breakthrough Battery Launch Planned for 2028
Trey Thoelcke |

GM Promises EV Profitability in 3 Years With Breakthrough Battery Launch Planned for 2028

General Motors Co. (NYSE: GM | GM Price Prediction) is doubling down on battery technology leadership with a breakthrough chemistry…
Paul Ausick |

Fuel Cell Stocks’ Proof of Life Returns

Just when you might have thought that the fuel cell stocks had been placed on life support, a new contract…
Did QuantumScape Just Single-Handedly Revive the EV Market?
Rich Duprey |

Did QuantumScape Just Single-Handedly Revive the EV Market?

A New Era for EV Batteries QuantumScape (NYSE:QS | QS Price Prediction) is pushing the boundaries of electric vehicle (EV)…

Top Gaining Stocks

Cboe Global Markets
CBOE • Vol: 1,568,143
New Pluto Global
PSKY • Vol: 12,285,993
Seagate Technology
STX • Vol: 7,378,346
Oracle
ORCL • Vol: 26,317,675
Datadog
DDOG • Vol: 6,247,779

Top Losing Stocks

LKQ
LKQ • Vol: 4,367,433
Clorox
CLX • Vol: 13,260,523
Stryker
SYK • Vol: 4,519,455
Mohawk Industries
MHK • Vol: 1,859,865
Amgen
AMGN • Vol: 3,818,618