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William, Valence entered into a joint venture with Hanil Telecom to form Hanil Valence. The arrangement provides for Valence to share technology with Hanil. Hanil agreed to put up $50,000,000, build a factory, and to share profits with Valence 50/50. Recently, Hanil announced in the Korea Times that production would start 7/99; a description of the product, a cellphone battery, was provided. The specifications of the battery, at least according to my reckoning, are extraordinary. Far and away the most powerful in terms of energy density, that has appeared in any public announcement. Assuming that the timetable and specs are truthful and accurate, Valence and Hanil are poised to enter the market with superior products. |
