AccelRate Appoints Additional Distributor in New Zealand
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Vancouver, BC -- April 26: AccelRate Power Systems, the technology leader in fast charging, and the sole manufacturer of "High-Speed" battery chargers for the motive power industry, announced today the further expansion of its global distributor network with the appointment of another quality full service stocking distributor. Headquartered in Auckland, the Hellaby Group will provide exclusive distribution of the AccelRate products throughout all of New Zealand.
"Our agreement with Hellaby significantly increases AccelRate's product awareness in yet another part of the world", said AccelRate's CEO Reimar Koch, "and considering Hellaby's highly respected reputation in the materials handling markets in New Zealand, the signing of this agreement certainly adds to the endorsement of our products and technology."
About Hellaby:
Hellaby Group's Industrial Division includes two wholly owned subsidiaries, AB Equipment & Rentals and Eurolift NZ. AB Equipment represents Toyota, BT, Raymond and Kalmar forklifts. Eurolift NZ represents Linde forklifts. Hellaby Group's recent purchase of HCB, the largest New Zealand owned importer and distributor of industrial batteries, further enhances the future opportunities of this agreement.
Hellaby Group, is listed on the New Zealand Stock Exchange. Its industrial division (AB Equipment and Eurolift) reported steady trading in 2005-06 and recorded a turnover of NZ$129.9 million in 2005-06. Toyota forklifts were introduced in NZ by AB Equipment in 1982 and for more than 20 years Toyota has enjoyed the highest market share, anywhere between 24% and 32%.
About AccelRate:
AccelRate's proprietary charging technology functions effectively with batteries of all conventional chemistries and sizes in industrial and transportation applications. AccelRate's technology provides customers with up to 80% decreased charging time, increased battery lifetime due to improved heat management, and decreased energy use. AccelRate® SC "High-Speed" battery chargers are commercially available today for the motive power market.
AccelRate Power Systems is headquartered in Vancouver, BC. AccelRate's shares trade on the TSX Venture Exchange (symbol APS), and on the Frankfurt Exchange (symbol KCG).
ACCELRATE POWER SYSTEMS INC.
"Reimar Koch"
President and CEO
For further information contact:
Reimar Koch (604) 688-8656
Email: info@accelrate.com
Website: www.accelrate.com
