Carlyle Leads a US$30 Million Investment with 3i as a co-investor in a Leading Chinese Battery Maker, Amperex Technology Limited - ATL's New Generation Polymer Batteries Set to Displace Traditional Lithium-Ion Batteries Over Time

Hong Kong – Global private equity firm The Carlyle Group announced today that it will lead with a US$22.5 million investment together with 3i as a co-investor in a US$30 million series B round of financing for Amperex Technology Limited (ATL), a leading China-based manufacturer of new generation lithium-ion-polymer batteries. Funding from the round will be used for working capital and research and development, and to increase manufacturing capacity.

ATL is a notable example of next generation Chinese businesses making a mark in the global technology arena. Its polymer batteries are thinner, more flexible and safer than traditional lithium-ion batteries, at the same time offering consumers a 10-20 percent higher energy density. Such batteries have exciting applications in devices such as mobile phones, PDAs, digital cameras and camcorders, portable DVDs, notebook computers, and Bluetooth devices. The rechargeable battery market is forecasted to grow at more than 12.5 percent annually, exceeding US$10 billion by 2010; at the same time, polymer batteries are expected to command increasing demand as portable devices require increased power and thinner form factors.

Dr. TH Chen, ATL’s CEO noted, “The investment by Carlyle and 3i is a further endorsement of our business, and is an important sign to the market that we are serious about continuing to develop and innovate in this growing field of polymer batteries. We very much look forward to the added value Carlyle and 3i will bring to the table as ATL continues to grow.”

Gabriel Li, Managing Director of Carlyle Asia Technology Fund, said, “This is an ideal Asian technology investment. ATL has leading polymer battery technology, is located in the lowest manufacturing cost location in the world, and is selling to global multinational companies. Furthermore, ATL has an excellent management team with proven international experience and is participating in the fastest growing segment of the battery market for mobile applications. We look forward to working closely with Dr. TH Chen and his talented team.”

Jamie Paton, head of 3i’s business in North Asia, said, “We echo Carlyle’s comments on the strengths of this business and its management team. ATL is a fantastic showcase for the type of business we look to invest in, and we look forward to working closely with Dr. Chen and other investors in bringing added value and leveraging 3i’s international networks in helping to drive continued success for ATL.”

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