SOURCE: Vendum Batteries Inc.
READING, UNITED KINGDOM--(Marketwire - Sep 11, 2012) - Vendum Batteries (OTCQB: VNDB), a battery technology development company, decided that along with the UK and EU funding route, Vendum should head to the US and meet with Venture Capital, Investment Banks and high net worth investors as it seeks to build the operations and technology.
CEO Rune Vind explains, "After reaching out to our extensive network of financing contacts Vendum has received several term sheets and we are now in the process of reviewing and negotiating the best terms for this potential financing, it is in the best interest of the company and our shareholders that we continue to develop and grow the business and raising capital is key."
About Vendum Batteries, Inc.
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, 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.
Disclaimer -- Forward Looking Statements
This press release contains "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, and such forward-looking statements are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. "Forward-looking statements" describe future expectations, plans, results, or strategies and are generally preceded by words such as "may," "future," "plan" or "planned," "will" or "should," "expected," "anticipates," "draft," "eventually" or "projected." You are cautioned that such statements are subject to a multitude of risks and uncertainties that could cause future circumstances, events, or results to differ materially from those projected in the forward-looking statements, including the risks that actual results may differ materially from those projected in the forward-looking statements; projected events in this press release may not occur due to unforeseen circumstances, various factors, and other risks identified in a company's annual report on Form 10-K and other filings made by such company.
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