Press Releases > Freeplay Energy Group Refocuses Strategic Direction For Future Growth

2001-01-06
2001-01-06

Freeplay Energy Group Refocuses Strategic Direction For Future Growth
Concentrating on Self-Sufficient Energy Technology Development & Co-Branding Arrangements

LONDON, Freeplay Energy Group, the world's leading developer of self-sufficient energy technology and manufacturer of the internationally renowned line of self-sufficient Freeplay radios and lanterns, today announced an aggressive new corporate direction.

Moving forward, Freeplay will focus on developing applications and commercial uses for its technology, and establishing partnerships with leading companies to manufacture, co-brand and distribute its products. As a business-to-business technology company, Freeplay Energy Group will concentrate its corporate strategy on developing commercially feasible applications for its technology, such as self-sufficient wireless telephones and laptop computers, and will market the Freeplay brand on behalf of its distribution partners.

This new corporate focus will enable the company to leverage its amassed product development and engineering expertise, while partnering with other companies to competitively manufacture, co-brand and distribute its self-sufficient products in international markets. These activities will be managed out of Freeplay's corporate headquarters in London.

The self-sufficient technology used in Freeplay's popular line of audio and illumination products incorporates solar panels, rechargeable batteries and wind-up capabilities to give users the freedom to choose and control the source of their energy. These fail-safe products include the hand-held Freeplay S360 Radio and Freeplay 2020 Flashlight, as well as the Freeplay 2 Radio and Freeplay Self Powered Lantern.

The promise of self-sufficient energy technology and its applications are constantly evolving as our engineers devise new uses in product areas ranging from leisure and education to agriculture and high-tech. However, the economics of converting new applications into commercially viable products has hindered our ability to advance the acceptance of self-sufficient energy technology as quickly and broadly as we wanted," said Rory Stear, Freeplay Energy Group chief executive officer. "To achieve this goal and grow our company, we needed to refocus our business strategy to concentrate on developing new applications for our technology. By partnering with other corporate leaders to produce, distribute and market these products more cost effectively and competitively, we will be able to focus our efforts on what we do best."

Freeplay recently announced a partnership agreement with Li & Fung, one of the world's leading global supply chain management companies, to manufacture Freeplay products. Based in Hong Kong, Li & Fung operates an international network of 7,000 manufacturers and produces goods worldwide marketers such as The Walt Disney Company, Avon, Toys R Us and The Gap.

New Venture for Montague Gardens Manufacturing Site
The management of the South African-based Montague Gardens facility, where Freeplay had held a contract to manufacture selected products, will be assumed in March 2001 by a new venture known as Freecom. This new company will focus on refurbishing and marketing previously used personal computers to the African marketplace. Since the expiration of its contract for the facility in October, Freeplay has been working with Freecom to effect the transition process. Freecom will combine technology and innovation with commitment to the community by offering renewed computer technology and Internet access to Africa's retail market, as well as to many government organizations, NGOs and educational institutions, across the African continent.

Freecom will provide new business and career opportunities by training staff to refurbish personal computers previously deemed obsolete. An empowerment company, Freecom will be owned by a consortium of NGOs, including NICRO, Distance Learning Trust, the Freeplay Foundation and disability employment concerns, and will be led by a South African-based management team. Dividends from Freecom will be circulated back to its constituency of owner organizations, as well as to the community, providing a method for these organizations to secure funding through their involvement with the company. While the new company will concentrate on producing refurbished computers, Freecom has also signed a partnership agreement with Freeplay to manufacture and distribute its audio and illumination products for the continent of Africa, especially for aid organizations, NGOs and local government bodies that require the purchase of goods manufactured in South Africa.

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