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Press Release Source: Valence Technology Inc.
Valence N-Charge System Selected by Special Operations Command
Thursday April 1, 9:35 am ET
Safety and Performance of Saphion Lithium-ion Technology Critical for Key Military Operations
AUSTIN, Texas--(BUSINESS WIRE)--April 1, 2004--Valence Technology Inc. (Nasdaq:VLNC - News), a leader in the development and commercialization of Saphion® technology, the only safe large format Lithium-ion rechargeable battery technology, today announced that the U.S. Special Operations Command of the U.S. Military has selected the N-Charge(tm) Power System as the power source for its survey equipment. Special Operations Command is one of several organizations within the U.S. Military to implement the N-Charge Power System as its solution for all day, safe, reliable power.
The N-Charge system has been chosen as a power source for many devices utilized by the Army, Navy, United States Coast Guard and several other groups of the U.S. Military. The N-Charge system, which utilizes phosphate-based Saphion Lithium-ion technology, is ideal for military applications which may be exposed to extreme environmental conditions. The performance and safety attributes offered by the N-Charge system and Saphion technology, along with the extended run-time, reliability and superior cycle life, are critical for products required to endure long hours in military field operations.
"We are pleased with the progress we have made in the military market over the past several months, and we believe the interest we have generated is testament to the advantages that the N-Charge system and Saphion technology present for military applications," stated Stephan Godevais, chairman and CEO of Valence. "The performance, safety and reliability that Saphion technology delivers are crucial for many applications, specifically those utilized by the military."
The N-Charge(tm) Power System is a universal, portable battery that provides up to 10 hours of additional run-time. It features safe, environmentally friendly Saphion Lithium-ion technology. The reliability and robustness of the N-Charge system enable it to withstand the abusive conditions common in military operations. Additionally, the lightweight design enables complete portability.
About Valence Technology Inc.
Valence is a leader in the development and commercialization of Saphion® technology, the only safe large format Lithium-ion rechargeable battery technology. Valence holds an extensive, worldwide portfolio of issued and pending patents relating to its Saphion® technology and Lithium-ion rechargeable batteries. The company has facilities in Austin, Texas, Henderson, Nev., 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.
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.
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