HENDERSON, Nev., Feb. 18 /PRNewswire/ -- Valence Technology, Inc. (Nasdaq: VLNC), a research and development company developing advanced, rechargeable, lithium polymer battery technology for commercialization, has received notice from the U.S. Patent and Trademark Office of the issuance of patent No. 5,871,866 covering an entirely new class of cathode materials developed by Valence. The patented materials are intended for use in the company's rechargeable lithium polymer batteries, but can also be used within rechargeable liquid lithium ion battery systems currently available.
"Valence's now-patented lithium-containing phosphate materials represent a significant advance in lithium ion battery technology," said Jerry Barker, Ph.D., director of materials research for Valence. "The materials should cycle better, providing a longer life between charges, and be as safe or safer than any cathode material currently available today."
The patented materials are composed of novel lithium-containing phosphates developed by Valence, in contrast to the cathodes in rechargeable lithium ion batteries currently available which are composed of lithiated metal oxide compounds. While testing and scale-up operations have yet to be completed, Valence anticipates that the new materials will provide significant advantages in terms of both performance and safety versus today's materials.
The company anticipates that the new materials will potentially increase the specific capacity or energy of the cathode by up to 60%, which implies a longer life between charges, at a lower cost than today's materials. Because the patented materials are believed not to react with electrolyte, they are also expected to provide improved battery performance in terms of the number of times the battery could be recharged. Valence anticipates that the materials will not release structural oxygen under typical abuse conditions and will therefore be less reactive than cathode materials currently in use, which should constitute a significant safety advantage.
"The issuance of this patent is a real milestone for Valence that demonstrates our pioneering position in the field of battery technology," said Lev Dawson, Valence's chairman, chief executive officer and president. "We expect that the patented material should be in sample batteries this year, with no impact on Valence's efforts to commercialize batteries using currently available cathode materials."
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 ended March 29, 1998, to which readers are referred.
Valence Technology is engaged in the research and development of advanced rechargeable batteries based on lithium polymer technologies. The company is traded on the Nasdaq National Market under the symbol VLNC. Valence can be found on the Internet at valence-tech.com.
SOURCE Valence Technology, Inc.
/CONTACT: Lev Dawson, Chief Executive Officer of Valence Technology,
Inc., 702-558-1000; or General Information, Virginia St. John-Needham, Analyst
Contact, Eileen Morcos, or Media Contact, Marjorie Ornston, all of The
Financial Relations Board, 310-442-0599/
/Web site: valence-tech.com
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