Valence Technology Inc. and Acer Inc. Sign Memorandum of
Understanding; Acer and Valence Agree Upon Design for Standalone
Mobile Power System
February 14, 2002 09:31:00 (ET)
AUSTIN, Texas, Feb 14, 2002 (BUSINESS WIRE) -- Valence Technology
Inc. (VLNC, Trade), a leader in the development and commercialization of
Lithium-ion polymer rechargeable batteries, and Acer Inc., one of the world's
top 10 PC vendors, today announced that they have agreed upon a specification
for a standalone mobile power system utilizing Valence's Saphion(tm)
Lithium-ion technology.
The two companies signed a Memorandum of Understanding to work together
to introduce a commercial product with the agreed specification. The device will
be compatible with a range of Acer's mobile devices and will be distributed by
Acer under its company's brand.
Stephan Godevais, president and CEO of Valence Technology Inc., stated,
"Acer is on the cutting edge of mobile technology development. Their in-depth
understanding of the underlying needs of mobile device users has contributed
significantly to the differentiation and success of their innovative products."
"Today, the features most important to our customers are mobility, performance
and ease-of-use, and Valence's mobile power system with Saphion(tm)
Lithium-ion technology incorporates all three," stated Jim Wong, president, IT
products, business group for Acer Inc. "This system not only responds to a clear
market need, it will significantly increase the benefits of portable electronic
devices to their users."
Valence is a leader in the development and commercialization of Lithium-ion
polymer rechargeable batteries. Valence has more than 790 issued and pending
patents worldwide, including 284 issued in the United States. The company has
facilities in Austin, Texas, Henderson, Nev., and Mallusk, Northern Ireland.
Valence is traded on the Nasdaq National Market under the symbol VLNC and
can be found on the Internet at www.valence.com.
Established in 1976, Acer is among the world's top 10 branded PC vendors.
Acer employs marketing and service operations across Asia Pacific, Europe, the
Middle East and the Americas, supporting dealers and distributors in more than
100 nations. In addition to offering a broad spectrum of IT products and
computer peripherals, Acer is also a leading innovator of e-business, providing
MegaMicro e-enabling solutions that combine IT products with a range of
Micro services delivered via Acer's Mega infrastructure. For more information
about Acer, please visit our Web site at www.acer.com.
The information contained herein includes "forward-looking statements." The
company cautions readers not to put undue reliance on forward-looking
statements. Such forward-looking statements are not guarantees of future
performance and involve risks and uncertainties, and actual results may differ
materially from those described herein, for the reasons, among others, discussed
in our reports filed with the Securities and Exchange Commission.
CONTACT: For Valence Technology Inc.
Media Contact:
Blanc and Otus Public Relations
Sue Ellen M. Schaming, 415/856-5129
sschaming@blancandotus.com
or
Investor Contact:
Hill and Knowlton Inc.
Stacy Roughan, 323/966-5784
sroughan@hillandknowlton.com
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