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Technology Stocks : VALENCE TECHNOLOGY (VLNC)

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To: John Curtis who wrote (411)	5/21/1997 12:26:00 AM
From: Gordon Quickstad	of 27311

Delco is now called Delphi. There's a five year agreement that goes to 9/99 with Delphi. They pay $50K a month and also make milestone payments on a $20 million deal. There haven't been milestone payments for over a year. That implies that the next plateau is difficult to reach or is not cost effective for whatever the original design criteria were. As I recall, it was for Starting, Ignition, Lighting use, and also load leveling. It seems that $$$ are the main criteria here, not advanced technology. Also, this type of battery has to be available at K-Mart when a shade-tree (me) mechanic goes to replace it. The Eveready deal I haven't heard a thing about since it was announced. Basically, the companies were to share expertise, with Eveready getting to produce cylindrical batteries using the technology. The Motorola and Hewlett Packard deals were based on the original lithium metal technology and are not active today. That is not to say there won't be any new deals with these companies.

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