Another technology area that's overlooked but that will be huge in the coming wireless handheld world. Batteries. VLNC
Valence Technology Receives Second Substantial Order For
Lithium Polymer Batteries
Order Targeted for GSM Cellular Phones
HENDERSON, Nev., Dec. 2 /PRNewswire/ -- Valence Technology Inc. (Nasdaq: VLNC) today announced that it
has received a purchase order for delivery of its advanced Lithium Polymer batteries to a European customer for
application in cellular telephones.
The total dollar value of this order is approximately $15.0 million for an order quantity of approximately 1.5 million
units. Initial shipments to customers for pilot production, will be shipped from Valence's Mallusk, Northern
Ireland manufacturing facility by the end of January with production level shipments scheduled to begin in the
second calendar quarter and continue through March 2001.
Lev Dawson, Chairman, Founder and CEO of Valence said, "This new purchase order for our advanced
technology, lithium polymer batteries comes close on the heels of the announcement of our first major order two
weeks ago. The new order is for our standard product 35x65 cellular telephone battery cell and will be used in the
high end models of European and worldwide standard GSM technology phones. Lithium polymer's advantages of
high energy density, safety and thinness are key product characteristics driving the decision by mobile
electronics companies to test and purchase Valence's new polymer technology."
About Valence Technology Inc.
With more than 400 battery patents awarded and pending, Valence is a leader in the commercial production of
lithium polymer batteries. The company operates facilities in Henderson, Nev.; Seattle, Wash.; and Mallusk,
Northern Ireland. It also has a 50% owned subsidiary, Hanil Valence, in South Korea. Valence is traded on the
Nasdaq National Market under the symbol VLNC. Valence can be found on the Internet at
valence-tech.com .
The information contained herein includes forward-looking statements that involve risks and uncertainties. In
particular, the establishment, development and potential success of product development and production
outcomes are subject to risks and uncertainties both within and outside Valence's control. These risk factors are
described from time to time in Valence's SEC reports, including on Form 10-K for the year ending March 29, 1999,
to which readers are referred. |
