Extreme Vehicle Battery Technologies announces that it has signed a marketing and development agreement with Jiangsu RichPower New Energy and Intelligent Battery Technologies and closed the acquisition contemplated in its distribution and technology license agreement with Rich Power and IBT.

A vertically integrated company, RichPower is involved in activities ranging from research and development to battery production. RichPower operates facilities in Shanghai and Suzhou.

Through the use of AI, it has developed a “smart” BMS that learns and evolves with user behaviours resulting in a significant increase in power saving and efficiency.

The closing of the Definitive Agreement will allow EV Battery Tech to develop battery technologies for the Target Markets with features which include:

• Artificial Intelligence
• Real-time Monitoring
• Remote Maintenance
• Longer Battery Life
• More Efficient Power Supply
• Smart Charging Systems
• Battery Recycling
• Blockchain Infrastructure

EV Battery Tech will be working closely with IBT to develop its blockchain technology and adapt RichPower’s battery technology for the North American markets.