Valence Technology and Tyco Electronics
Power Systems Sign Mutual Scope of Work
Agreement for Lithium-ion Telecom Battery Development
Tuesday November 19, 9:30 am ET
AUSTIN, Texas--(BUSINESS WIRE)--Nov. 19, 2002--Valence Technology, Inc.
(Nasdaq:VLNC - News), a leader in the development and commercialization of
Saphion(TM) technology and lithium-ion polymer rechargeable batteries and Tyco
Electronics Power Systems Inc., a leading worldwide supplier of telecommunications
power equipment, today announced that they will work together to evaluate and
develop Valence's Saphion lithium-ion technology as a standby power solution for the
telecommunications industry.
The two companies have signed a Mutual Scope of Work for a Technology Evaluation
Phase agreement, which will include the testing, qualification and market development
of Saphion technology lithium-ion battery solutions.
"Tyco Electronics is clearly a leader in the design, development and commercialization
of turnkey power systems that satisfy the demanding energy storage and reliability
requirements of today's telecommunications market," said Stephan Godevais, chairman
and chief executive officer of Valence Technology, Inc. "Working together, we hope to
achieve our mutual goal of delivering a safe, environmentally friendly and affordable
back-up power solution for telecom."
With exceptional thermal and chemical stability, lithium-ion batteries with Saphion
technology have expected lifetimes of more than ten years in extreme environments.
They also offer substantial weight and space savings over both traditional lead-acid
and nickel-cadmium storage systems. Other benefits include no ventilation
requirements, better cycling characteristics and more flexibility of form factor.
"Lithium-ion technology introduces entirely new possibilities for the way different
components of a power system are integrated. Imagine no longer needing a separate
battery compartment because you don't have to segregate the batteries from the
electronics," said Sabi Varma, vice president of marketing for Tyco Electronics. "Upon
successful testing and evaluation, major changes in telecom power system design will
go from the drawing board to the table."
Prototypes of these back-up devices are expected to launch early next year.
About Valence Technology, Inc.
Valence is a leader in the development and commercialization of Saphion(TM)
technology and Lithium-ion polymer rechargeable batteries. Valence has more than
722 issued and pending patents worldwide, including 254 issued in the U.S. The
company has facilities in Austin, Texas, Henderson, Nevada and Mallusk, Northern
Ireland. Valence is traded on the Nasdaq SmallCap Market under the symbol VLNC and
can be found on the Internet at www.valence.com.
About the Tyco Electronics Power Systems Inc.
Tyco Electronics Power Systems, a division of Tyco Electronics, is a leading global
provider of innovative, reliable power supply products including AC-DC and DC-DC
switching power supplies, batteries and complete communications and energy power
systems. Tyco Electronics Power Systems also offers custom design, engineering,
installation and technical support services to its customers. Additional information about
Tyco Electronics Power Systems is available via the Internet or by calling
800/526-7819.
Forward-looking Statement
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:
Blanc and Otus Public Relations
Media Contact
Sue Ellen M. Schaming, 415/856-5129
sschaming@blancandotus.com
or
Valence Technology
Investor Contact
Kevin Mischnick, 512/527-2900
www.valence.com
Source: Valence Technology |
