iGo, Inc., a leader in the design, development, manufacturing, and distribution of high and low powered mobile electronic devices, announced that it has signed a new marketing, distribution, and licensing agreement with PureEnergy Solutions, a manufacturer of rechargeable alkaline batteries. iGo will become the exclusive marketer and distributor for all of PureEnergy Solutions’ rechargeable alkaline batteries to retailers around the world, excluding China. The company will have non-exclusive distribution rights in Africa as well.
The company also entered an agreement with Premier Tech Home & Garden to take over its most current distribution rights for the PureEnergy batteries in Canada. The agreement includes the transition of its customer relationships for PureEnergy batteries. The accounts currently held represent approximately $2 million in annual revenue. As part of the agreement, iGo has purchased current inventory to support said accounts.
The batteries and chargers will be sold worldwide mainly under the brand name iGo Green®, although some existing customers in Canada will continue to sell the batteries and chargers under PureEnergy’s name or their own private label brands. The company will provide its alkaline batteries in AA and AAA sizes initially, along with multiple other charging solutions such as wall outlet and USB chargers.
The rechargeable alkaline batteries can be used in any device that is made to use disposable alkaline batteries. An additional benefit includes the ability for the battery to charge up to 100 times. The rechargeable batteries are the most least expensive batteries available in the rechargeable battery market, selling up to 30-40% less than other battery options such as nickel metal hydride and lithium batteries. The Rechargeable batteries have the ability to hold their charge for up to seven years, much longer than that of nickel metal hydride batteries.
“We are very excited to sign this agreement with PureEnergy Solutions and enter the rechargeable alkaline battery market,” said Michael D. Heil, President and Chief Executive Officer of iGo, Inc. “This is a great strategic fit with our existing product portfolio and retail distribution network, and further strengthens iGo’s positioning as a leader in ‘green’ power solutions. Rechargeable batteries comprise 15-20% of the overall battery market in Europe and Canada, but less than 5% in the United States. We believe the market for rechargeable alkaline batteries has strong growth potential as more consumers become aware that there is an inexpensive alternative to wasteful, single-use disposable alkaline batteries. We believe that we can steadily grow the sales of this product line in the coming years as we leverage our retail distribution network and increase the number of locations where these batteries are sold in the United States and Europe.”
iGo Inc. will pay royalties to PureEnergy for the use of the PureEnergy brand and technology, in accordance to its agreement with PureEnergy. The initial agreement is for five years, provided that iGo will achieve annual minimum sales targets to acquire the exclusive distribution rights. If not met, the distribution rights will be converted to non-exclusive distribution rights. If all annual minimum sales targets are met, iGo Inc. will have the option to extend the agreement for up to 15 years.
iGo Inc. engages in the design, development, and the distribution for high and low power mobile electronic devices around the world. The company produces products such as AC/DC universal power adapters, DC-only power adapters, AC-only power adapters, DC cigarette lighter adapters, mobile AC adapters, combination AC/DC adapters, and battery powered adapters. The company also provides various mobile device accessories, such as monitor stands, portable computer stands, and foldable keyboards. Power products for mobile phones, smartphones, digital cameras, and portable game products are also provided by the company. iGo markets and sells its products via original equipment manufacturers, private label-sellers, retailers, resellers, distributors, and wireless carriers, as well as directly to end users through its iGo.com Website.
For more information on iGo, Inc. and its products, visit their website: www.iGo.com
PureEnergy Solutions is a company that strives to revolutionize power delivery to portable electronic devices with the aid of its WildCharge™ wire-free technology. The company is a leader in supplying sustainable and environmentally friendly rechargeable battery products with its RAMcell™ rechargeable alkaline batteries. With its Technology Licensing Program and WildCharge Mark of Interoperability, PureEnergy Solutions allows its licensed partners to develop and manufacture products that incorporate wire-free technology into their solutions and introduce them to the market in an efficient and timely manner. PureEnergy products are sold in over 75 countries in the world.
For more information on PureEnergy Solutions and their products, visit their website: www.pureenergy.com
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