Today before the opening bell, Zentric, Inc., an advanced battery technology company, issued a press release to update the investment community on its current initiatives.
As previously announced, Zentric has entered into a joint venture agreement to build and operate a battery manufacturing facility on approximately 7.4 acres of land provided by the joint venture partners. The company is now in the process of planning and designing the facility, which is anticipated to undergo construction in mid-2011.
Zentric is also in the process of building a strong management team. Last week the company announced the addition of Lee Harrison as Executive Advisor. Zentric is pursuing other prominent figures in the industry as well which are currently in talks to join.
The Research and Development team at the University of Hong Kong continues to perfect the energy storage designs with the addition of a new storage battery configuration. The new configuration consists of 3 electrolytes separated by membranes that have added storage capability, resulting in a more cost effective battery with greater storage capacities.
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