EV Battery Tech’s IONiX Pro SmartWall is about to gain a dramatic boost in exposure thanks to a recently signed sales, distribution and service deal entered into with pioneering LEV manufacturer Daymak.
The agreement, which goes into effect immediately, will have home SmartWall products feature prominently throughout Daymak’s vast network of retail outlets and dealers while also providing EV Battery Tech with access to its established system of distribution and service facilities.
“The SmartWall stores energy, providing access to reserved power in outages or in case of an emergency. IONiX Pro’s cutting-edge technology will give customers the autonomy to power their homes on their own terms. Thanks to artificial intelligence powering ACDC’s patented BMS, the SmartWall will provide features no other home battery storage product can offer and will be able to be stacked to suit a household of any size,” said Aldo Baiocchi, President of Daymak.
And Daymak isn’t wasting time getting the SmartWall into dealer locations. Plans are already in place for the SmartWall to be showcased at retail outlets spanning the globe from Toronto to Los Angeles to Rome.
Daymak has an impressive 60,000 square foot distribution facility and a strong sales team. Under this new agreement, the two companies intend to work closely together to promote the IONiX Pro SmartWalls. There are immediate plans for a shared office to be set up in Toronto, which will be devoted entirely to the sales and distribution of the SmartWalls.
The ONiX Pro SmartWall has been a great success for EV Battery Tech; its latest pre-order has sold out, and the new partnership with Daymak is likely to see demand for the unit increase. However, since February 2021, shareholders have been patiently asking about the company’s path to sales, revenue and, most importantly – profitability.
The truth is many successful tech startups have not yet reached profitability.
Startups like EV Battery Tech can take years to reach profitability. Investors buy into these companies based on the hope that one day they’ll be able to turn a substantial return on their initial investment. Take, for example, Facebook (now Meta); it took five years to become profitable. Last year, Facebook reported net income totalling $29.14 billion, and during the first three quarters of 2021, the company has already topped $29 billion in profit.
Amazon is another example of a billion-dollar business that failed to turn a significant profit up until recently. Amazon was founded in 1994 and recorded its first profitable year in 2003. However, it wasn’t until 2018 that profits really took off.
It’s worth noting that not all tech startups make it big, and the path to profitability can be treacherous. WeWork famously had its attempts to go public quashed in 2019 after investors were unconvinced that a plan to steer the company towards profitability could save it from its cash-burning trajectory.
Chinese battery makers are already grappling with graphite squeeze thanks to limited production capacity and booming demand from the EV market.
Consultancy Benchmark Mineral Intelligence (BMI) predicts a 20,000-tonne graphite deficit in 2022. That’s no minor deficiency; according to industry insiders, 20,000 tonnes of graphite would help power roughly 250,000 EVs.
And it seems no one is shielded from shortages of crucial lithium-ion battery components. Contemporary Amperex Technology Co Ltd (CATL), a global leader in EV battery production, is reportedly “desperate” to secure the materials needed to keep up with EV battery demand.
Current market challenges present opportunities for innovative EV battery makers. And EV Battery Tech is one of them.
EV Battery Tech’s patented one-of-a-kind battery management system (BMS) is helping combat waste in the EV battery market with AI-integrated batteries that last longer, run more efficiently, and perform better.
The BMS technology allows for real-time monitoring and remote maintenance capabilities, which improves battery function and prolongs battery life – an important feature at a time when EV battery components are becoming more and more difficult to come by discarded EV batteries filling up landfills.
A stark estimate from the University of Warwick’s Automotive Lithium-ion Battery Recycling in the UK report predicts that by 2040 339,000 metric tons of EV batteries will reach end-of-life.
EV Battery Tech’s advanced battery technology enables batteries to remain operational until they reach 0%. While at the same time, the company is working diligently in its battery recycling and refurbishing program, giving used batteries a long-term second life.
About EV Battery Tech
Extreme Vehicle Battery Technologies Corp. is a blockchain and battery technology company with revolutionary, patented Battery Management Systems (BMS) designed to meet the growing demand for scalable, smart solutions for the rapidly growing Electric Vehicle (EV) and Energy Storage Solution (ESS) markets. The company has committed to assisting global recycling solutions by offering recycling initiatives using their technology to analyze and fully refurbish used batteries.
The company’s versatile lineup includes energy-saving solutions for use both at home and on the go, including a state-of-the-art energy storage system, EV chargers, an EV prototype, and a cutting-edge smartphone app.
Disclaimer: The company described in this article is a customer of NAI Interactive Ltd. This material is for informational purposes only and is not intended as a recommendation or offer or solicitation for the purchase or sale of any securities or financial instruments, or for transactions involving any financial instrument or trading strategy.
