DGAP-News: IQ Power receives official notification of subsidy from the State of Saxony for Research and Development activities in Chemnitz
(firmenpresse) - iQ Power AG / Miscellaneous
20.07.2010 18:00
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IQ Power receives official notification of subsidy from the State of Saxony
for Research and Development activities in Chemnitz
- Subsidy totaling EUR 543,300 will be used to further develop innovative
and environmentally-friendly advanced lead-acid batteries.
Zug/Switzerland, 20 July 2010 - Today iQ Power Technik GmbH, Chemnitz,
Saxony, Germany, a 100% subsidiary of iQ Power AG, Zug, CH (ISIN:
CH0020609688, WKN: A0DQVL, Symbol: IQPB), received notification from the
Saechsische Aufbau Bank, Dresden, Germany of the government award for
research and development activities. Subsidy totaling EUR 543,300 will be
used to further develop innovative and environmentally-friendly advanced
lead-acid batteries.
IQ Power Technik GmbH started operations again in Chemnitz following
financial restructuring with 9 engineers in late 2009. Currently 10 highly
qualified engineers are employed in Chemnitz with a total plan of 11
engineers to be employed at this location in 2011.
Bob Sullivan, CEO of iQ Power AG and Managing Director of iQ Power Technik
GmbH, noted to this occasion 'I am very appreciative that the State of
Saxony has recognized the contribution of iQ Power technology in promoting
a cleaner and healthier environment. IQ Power is very glad to have an R&D
facility in Chemnitz. We see Chemnitz and Saxony as an ideal location for
development activities because of the availability of highly skilled and
well-educated technical employees and the strong support offered by
governmental institutions.'
Corporate Management
About iQ Power
iQ Power AG is a developer and supplier of innovative starter batteries for
motor vehicles. The products are technologically advanced, deliver greater
efficiency, and are environmentally sound and lighter in weight. The
company's many achievements include the development of the world's first
software-controlled smart car battery. Industrial batteries and system
solutions for electrical energy management in vehicles help round out its
operational portfolio.
The company's operational element is iQ Power GmbH in Chemnitz (Germany),
which is a wholly owned subsidiary of iQ Power AG. Headquartered in Zug
(Switzerland), iQ Power AG is a publicly listed stock corporation whose
shares are traded on the regulated market (General Standard segment) of the
Frankfurt Stock Exchange, over the counter on the securities exchanges in
Berlin, Düsseldorf, Munich and Stuttgart, as well as on Xetra (ISIN:
CH0020609688, WKN: A0DQVL, IQPB).
Contact:
Company Contact:
iQ Power AG
Metallstraße 9
CH-6304 Zug
Tel.: +41(0)417680363
Fax: +41(0)417680368
info(at)iqpower.com
www.iqpower.com
Investor Relations Contact:
GFEI Aktiengesellschaft
Hamburger Allee 26-28
60486 Frankfurt am Main
Tel: +49(0)69 74 30 37 00
Fax: +49(0)69 74 30 37 22
iQPower(at)gfei.de
www.gfei.de
20.07.2010 18:00 Ad hoc announcement, Financial News and Press Release distributed by DGAP. Medienarchiv atwww.dgap-medientreff.deandwww.dgap.de---------------------------------------------------------------------------
Language: English
Company: iQ Power AG
Metallstrasse 9
6304 Zug
Schweiz
Phone: +41 41 7680360
Fax: +41 41 768 03 68
E-mail: investor-relations(at)iqpower.com
Internet: www.iqpower.com
ISIN: CH0020609688
WKN: A0DQVL
Listed: Regulierter Markt in Frankfurt; Freiverkehr in Berlin,
München, Düsseldorf, Stuttgart
End of News DGAP News-Service
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Bereitgestellt von Benutzer: EquityStory
" alt="Formation Metals Inc.: Client Update by Newsletter Writer Peter Grandich
Datum: 20.07.2010 - 18:00 Uhr
Sprache: Deutsch
News-ID 24180
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