EV Battery Tech Launches Battery Revival Program Based on Proprietary AI Technology

VANCOUVER, British Columbia, Nov. 10, 2020 (GLOBE NEWSWIRE) -- Extreme Vehicle Battery Technologies Corp. (the “Company” or “EV Battery Tech”) (CSE: ACDC) is pleased to announce the launch of its “Battery Revival Program”. The Battery Revival Program utilizes EV Battery Tech’s proprietary technology on used batteries to be used in future applications such as Electric Vehicles (EV) or Energy Storage Systems (ESS).

Global Concern

The launch of this program comes at a time when electronic waste has become a top global concern. According to Thomson Reuters, exponential growth in e-waste has reached a record 53.6 million tonnes in 2020 and that number its projected to double by 2050¹. What’s worse, a global e-waste report (the “Report”), commissioned by the United Nations (the “UN”), states that only 17.4% of the waste was recycled. According to the World Economic Forum, annual e-waste exceeds GDP in over 120 countries¹. The UN calls it a “tsunami of e-waste” and has made the management of e-waste a top priority. The Report concluded that the overall damage done to the environment is incalculable and the way we currently dispose of e-waste is unsustainable.

Battery Revival Program to the Rescue

Thanks to artificial intelligence (AI) driven technology, the Company is able to perform a proprietary rapid testing program to quickly and thoroughly analyze used batteries. Once data is entered into its proprietary AI based technology and the analysis is completed, the Company can then determine to either refurbish the batteries back to 100% or reuse the batteries in future ESS production.

Bryson Goodwin, President and CEO comments:

“Our patented and industry leading technology will allow us to refurbish and return to use used batteries, which could be a phenomenal win for efforts to reduce waste and curb the release of toxic components into the environment. We intend to apply or proprietary AI integrated BMS technology to manufacture and sell state-of-the-art ESS products.”

“As the world is drowning in waste, we all need to look for better, safer and cleaner alternatives. The surge of electric vehicles is bringing with it a wave of used batteries. Most EV batteries are deemed non-functional when they lose functionality in 20% of their fuel cells. Think of the waste.”

Win - Win

It goes without saying that reusing batteries and maximizing their full potential could benefit the environment. However, an additional benefit to the Company is the massive cost savings in the production of ESS products. The largest cost in the ESS is the batteries and by using recycled batteries, the Company is able to enjoy significant cost savings.