Vendum Batteries (OTCBB: VNDB), a US-based battery technology development company, is pleased to announce it is looking at expanding its operations to coincide with an anticipated surge in business demand.
Reports that China, who accounts for more than 93% of production of rare earth metals, is planning to further restrict export quotas has prompted experts to predict widespread demand for alternate energy sources. Rare earth metals are vital to new technologies such as the iPhone and flat screen TVs as well as clean energy applications including electric car batteries, wind turbines and low energy light bulbs.
Even if China continues exporting at current rates, demand is rapidly outpacing supply and industry experts are predicting a 40,000 tonne annual shortfall by 2015.
Fraser Cottington, CEO of Vendum, says that Vendum is positioning itself for this strong demand, "With a huge increase in demand for clean energy applications and the possibility of China shutting off further resources, Vendum is positioning itself to gain significant market share. The industry outlook is appealing and we intend to capitalize on these strong growth prospects by offering a non-toxic, biodegradable alternative to rare earth metals."
Vendum Batteries has a pending patent on a non-toxic, carbon-based light-weight battery. The paper-thin battery contains none of the toxic elements used in conventional batteries and its cutting edge carbon nanotube and cellulose-based technology makes it entirely biodegradable. The Vendum Battery will be developed from its current low power capacity, to soon accommodate the ever-increasing global demand for durable battery power for cell phones, iPods, gadgets, human implants and eventually electrical vehicles etc. Americans purchase around 5 billion batteries, leaving 146,000 tons of battery waste behind, and given that the worldwide personal battery use is a growing $63 billion industry, the potential of this revolutionary non-toxic technology could be enormous.