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Technology Stocks : VALENCE TECHNOLOGY (VLNC) -- Ignore unavailable to you. Want to Upgrade?

To: Javelyn Bjoli who wrote (4377)	10/8/1998 2:41:00 PM
From: FMK	Respond to of 27311

Javelyn, I went to their web page and noted 200 wh/kg for a small battery. I believe Valence's next generation will likely be in the same ballpark with huge quantities available long before Moltech's end of '99 target. Remember the production problems and delays VLNC and ULBI have had. If Moltech's experience is similar they would more likely not be ready until yearend 2000. It also takes time to build a production facility, as is the case for Hanil. We still haven't seen published data on Valence's next generation that will not require royalty payments to Bellcore. I believe specs available on Valence's web page are two versions old such that they represent a version earlier than the laptop batteries now being producing in volume in Northern Ireland.

To: Javelyn Bjoli who wrote (4377)	10/11/1998 2:06:00 PM
From: lws	Read Replies (1) \| Respond to of 27311

Hi, Javelyn, Thanks for the link to the Moltech web site. The web site indicates Moltech is privately held. That's unfortunate in that it removes their need to file reports with the SEC. However, A few remarks can be made: First, according to the web site, Moltech employs some 90 people. I take this to mean the company is investing considerable resources in R&D. It must have a budget similar to Valence's. Given no indication of current products and revenue, someone(s) with deep pockets must also be behind their efforts -- someone(s) with considerable confidence in the likelihood of their success. Second, according to the web site, the founder and CEO of Moltech is Dr. Terje Skotheim. A patent search (vis IBM's database) indicates he has his name on some 27 patents. Earlier ones seem to suggest a background in solar energy research, and seem to be assigned to the federal government. (Note: I didn't scan them all, & I am not knowledgeable about any of the subject matter.) Later ones seem to pertain to battery cells and are assigned to Moltech. Third, a patent search using "Moltech" turns up some 49 patents. They all seem to pertain to battery cells in that there are frequent references to cathodes & anodes. As I recall, they are all dated in the 1990's. While some are assigned to Moltech of Tuscon, the largest portion are assigned to "Moltech Invent SA" of Luxemburg. The question is whether there is any relation between Moltech and Moltech Invent. I did not compare the participants' names between the two sets of patents (although Skotheim naturally shows up on both). I did notice, however, that the patenters came from the US and a number of European countries. It may indicate an academic component to their research efforts. Finally, on these observations, it seems to me that Moltech may be a more serious competitor to Valence than Ultralife and possibly the larger Japanese firms. The combination of money, research talent, and research results implies a determined effort to produce batteries. Regards, lws