CliftonÂs Smart Energy Solutions has signed a deal to supply Elcart Distribution with its flagship product.A Clifton-based company has inked a deal with ItalyÂs version of Radio Shack to distribute a product aimed at stopping car batteries from dying. Smart Energy Solutions (Nasdaq: SMGY) has entered into an Âopen-ended agreementÂ to supply Italy-based Elcart Distribution with the Battery Brain, says Smart Energy Solutions CFO Ed Braniff.
The Battery Brain attaches to a car battery and can stop it from being drained excessively when headlights or other devices are left on. Although the initial agreement is only for 300 units, Braniff notes that the Italian company has 2,000 stores. Smart Energy Solutions has opened a production facility in Milan, Italy, to supply the Italian distributor.
ÂFor us, the deal has the possibility of being very significant,Â Braniff says. Shares of Smart Energy slipped $0.02 to $0.80 in afternoon trading.