Leo Motors and KleenSpeed sign global joint sales agreement

Jan 24, 2013 (Datamonitor via COMTEX) -- Leo Motors, Inc., a manufacturer of electric vehicle power trains and components, and KleenSpeed Technologies Inc., a disruptive technology company focused on new energy solutions, have signed a global joint sales agreement.

Under the agreement, both companies will cross-sell each other's products and services in North America and Asia. The agreement will help both companies to open global markets by identifying new customers to provide stationary energy storage solutions and electric vehicle systems. Some of the key industries for the application of their products and technology include solar, wind, marine, aircraft, telecommunications, electric vehicle, military, and industrial.

"With the increased deployment of smart-grid energy technology, utility providers worldwide are increasingly seeking energy storage solutions that maximize their power delivery capabilities," stated Jung Yong Lee, CEO of Leo Motors.

"According to Lux Research, the global market for energy storage services is expected to reach $31.5 billion by 2017. Our products and services, as well as KleenSpeed's, have the capability to improve the efficiency and reliability of existing power delivery systems." "We look forward to working with KleenSpeed and helping to commercialize their market-disrupting energy storage technology," added Mr Lee. "Combined, our platforms provide a full spectrum of cost-effective power storage solutions suited to a wide range of industries and applications. KleenSpeed's products and technologies strongly complement ours, and joining forces will enable us to expand our customer reach worldwide." http://www.datamonitor.com Republication or redistribution, including by framing or similar means, is expressly prohibited without prior written consent. Datamonitor shall not be liable for errors or delays in the content, or for any actions taken in reliance thereon

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