Partnership Will Create Power Inverters Based on Mobility's itip(TM)
Technology
SCOTTSDALE, Ariz., July 20 /PRNewswire-FirstCall/ -- Mobility Electronics,
Inc. (Nasdaq: MOBE) and Xantrex Technology Inc. (TSX: XTX) of Vancouver, BC,
today announced the signing of an agreement to jointly develop and market a
new family of portable power inverter products. The new products will combine
Mobility's itip technology and Xantrex's inverter technology.
The new power inverters will convert direct current (DC) power from a
vehicle, boat or airplane outlet into standard 110-volt household alternating
current (AC) to power a broad range of consumer electronics products, such as
televisions, radios, public address systems, power tools, small appliances and
more. The products will be equipped with an additional 15-watt DC output
port, compatible with Mobility's itip technology, to enable the simultaneous
charging of a second mobile electronic device such as a cell phone, digital
camera, portable video game player or iPod(TM).
Introduction of the first of these new products is scheduled for the later
part of 2005. Mobility will market these new products under its iGo(R) brand,
and Xantrex will sell under its Xpower by Xantrex(TM) brand. Each company
also has the right to manufacture private label versions of the new products
for various customers, and each company can market, under its own brand name,
a range of separately developed DC power adapters and portable power products
manufactured by the other.
"This agreement with Xantrex expands our market to include power
inverters, which we believe can generate meaningful incremental revenue for
Mobility," said Charles Mollo, CEO of Mobility Electronics. "Many users of
our power adapters also purchase inverters, and this agreement will allow us
to leverage our itip technology and expand our offering of power product
solutions. Xantrex also has a strong presence in the Recreational Vehicle and
Commercial Trucking industries, which will provide Mobility with our first
opportunity to tap into these markets."
Mossadiq S. Umedaly, Chairman of Xantrex, added, "Our partnership with
Mobility will enable both companies to quickly introduce differentiated and
useful products to power a very broad range of portable electronic devices.
Mobility's itip technology will add an unmatched new functionality to our
robust, compact and lightweight portable power products, allowing Xantrex to
meet the needs of a rapidly growing market."
About Xantrex Technology Inc.
Xantrex Technology Inc. (http://www.xantrex.com) is a world leader in the
development, manufacturing and marketing of advanced power electronic products
and systems for the distributed, mobile and programmable power markets. The
company's products convert raw electrical power from any central, distributed,
or backup power source into high-quality power required by electronic and
electrical equipment. Headquartered in Vancouver, British Columbia, the
company has facilities in Barcelona, Spain; Arlington, Washington; Livermore,
California; Elkhart, Indiana; Reading, England and Beijing, China.
About Mobility Electronics, Inc.
Mobility Electronics, Inc., based in Scottsdale, Arizona, is a designer
and developer of universal power adapters for high-power (e.g., portable
computers) and low-power (e.g., mobile phones, PDAs, digital cameras, etc.)
mobile electronic devices, and is also the creator of the patented intelligent
tip ("itip") technology. Mobility Electronics' iGo brand offers a full line of
AC, DC and combination AC/DC power adapters for high- and low-power mobile
electronic (ME) devices. All these adapters leverage the Company's itip
technology, which enables one power adapter to power/charge hundreds of brands
and thousands of models of ME devices through the use of interchangeable tips.
The Company also offers hardware products for handheld devices; expansion
and docking products for servers, desktop and portable computers through its
MAGMA(TM) brand; and other accessories for the mobile electronic device
market.
Mobility Electronics' products are available at http://www.igo.com as well as
through leading resellers, retailers and OEM partners. For additional
information call 480-596-0061, or visit http://www.mobilityelectronics.com.
Mobility Electronics and iGo are registered trademarks, and ... improving
your mobile experience and Magma are trademarks of Mobility Electronics, Inc.
All other trademarks or registered trademarks are the property of their
respective owners.
This release contains forward-looking statements within the meaning of the
Private Securities Litigation Reform Act of 1995, including statements
relating to the impact of the joint development and marketing agreement with
Xantrex, the expansion of Mobility's addressable market, revenue opportunities
in the power inverter market, and anticipated timing of new product
introductions. These forward-looking statements are based on management's
current expectations and beliefs and are subject to risks and uncertainties
that could cause actual results to differ materially from those described in
the forward-looking statements. In particular, factors that could cause
actual results to differ materially from those in the forward-looking
statements include the termination of the joint development and marketing
agreement with Xantrex; the loss of, and failure to replace, any significant
customers; the timing and success of new product introductions; the
development and introduction of new products by us and our competitors; the
performance of suppliers and subcontractors; industry and general economic or
business conditions; and other factors detailed in our filings with the
Securities and Exchange Commission. Forward-looking statements speak only as
of the date made and are not guarantees of future performance. We undertake no
obligation to publicly update or revise any forward-looking statements.
CONTACTS:
Tony Rossi Julia Francis
FRB for Mobility Electronics Mobility Electronics, Inc
310-854-8317 480-596-0061, ext. 386
trossi@financialrelationsboard.com jfrancis@mobl.com
SOURCE Mobility Electronics, Inc.
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Related links:
http://www.mobilityelectronics.com
http://www.igo.com http://www.xantrex.com
CONTACT:
Tony Rossi of FRB, +1-310-854-8317,
trossi@financialrelationsboard.com, for Mobility Electronics,
Inc.; or Julia Francis of Mobility Electronics, Inc.,
+1-480-596-0061, ext. 386, jfrancis@mobl.com
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