Battery technology specialists UltraCharge (ASX:UTR) have signed a purchase agreement with global scooter company, Blitz Electric Motors, that will see the ASX-listed company produce high-voltage lithium-ion batteries for two popular scooter models.
Over the course of three years UltraCharge is scheduled to produce a total of 17,500 batteries for the Blitz3000 model, and 10,500 batteries for the larger Blitz6000 design – effectively adding an immediate and material production pipeline for the company.
UltraCharge has further future-proofed the arrangement, offering Blitz 18 months exclusivity in the scooter market, should Blitz pay US$4 million in the first 12 months.
The arrangement is a positive signal that UltraCharge’s lithium-ion battery technology is turning heads in the industry, boasting both power and duration well above industry standards.
The UltraCharge pouch-cell batteries will dramatically enhance the usability of Blitz’s two scooter models, enabling more torque – with the Blitz6000 model producing power equivalent to a 200-250cc engine – and doubling the estimated range to 200km.
Headquartered in Israel, Blitz is an established electric scooter manufacturer looking to expand to Europe, Argentina and India. The Company currently provides vehicles for some large recognised brands, such as McDonald’s and Pizza Hut.
“This contract with Blitz Electric Motors is a very significant milestone for our cobalt-free, lithium-ion battery solution and clearly demonstrates UltraCharge’s ability to customise solutions for specific end-user requirements,” UltraCharge CEO Kobi Ben-Shabat said.
“Blitz’s demand for our battery is critical third party validation for our lithium-ion battery solution and will serve as a case study for other interested users leading to additional purchase orders in the electric scooter and other end-user markets globally,” he said.
Blitz will assist UltraCharge in the commissioning and testing of the batteries, ensuring they meet vehicle specifications, while UltraCharge will retain all intellectual property in its battery technologies.
