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EXide -breakthrough battery tech?

An SI Board Since September 1999

Posts	SubjectMarks	Bans
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Emcee: Bob A Louie	Type: Unmoderated

Introduction Compact

3X the power, 1/2 the weight, 1/3 the cost! If it's true- could be huge! - Bob

Exide Corporation to Acquire Majority Interest In Potential `Breakthrough' Battery Technology Company to Partner With Lion Compact Energy In Development of Dual-Graphite Battery
READING, Pa., Sept. 27 /PRNewswire/ -- Exide Corporation (NYSE: EX - news), a global leader in the business of stored electrical energy, today announced it has entered into a preliminary agreement to acquire a controlling interest in Lion Compact Energy (LCE), a privately held company conducting research in dual-graphite battery technology that could dramatically advance the search for cleaner, less expensive and more efficient batteries.

Lion Compact Energy has thus far produced several prototype batteries using graphite in different forms as the electrode material. The company estimates that, in full production, its graphite battery could produce more than three times the energy of today's most advanced production batteries, with half the weight, occupying far less space, and at only one third the cost.

Robert A. Lutz, Chairman and Chief Executive Officer at Exide, said, ``What LCE has thus far accomplished is one of the most compelling stories in the history of advanced battery technology. We are extremely excited about dual- graphite's potential and the benefits it could bring to our company, the users of stored electrical energy, and the global environment.'

Exide's share of LCE will be acquired from the Michigan Molecular Institute. While LCE does not currently have any marketable products, the initial applications for these advanced batteries include smaller battery- operated devices, including cell phones, cameras, laptop computers, power tools and certain military equipment. Its use in larger devices would follow, and could include wheel chairs, motorcycles, replacement for lead-acid batteries in cars and trucks and, potentially, all-electric vehicles.

William Orabone, President of Lion Compact Energy, said, ``We are obviously pleased to be associated with the leader in this industry and a company committed to advancing both the science and the marketing of the dual-graphite battery.'

The potential acquisition of LCE is consistent with Exide's mission of developing advanced technology for storing electrical energy. Total research and development expenses needed to fully develop this technology are not known at this time, but could be significant.

``While returns on this kind of technological investment are not immediate, our right to control the marketing and sales of this technology through a wide range of use is an outstanding long-term opportunity,' Lutz said.

In another technological advance earlier this year, Exide began marketing its Orbital Select automotive battery -- a cylindrically wound battery that represents the first technology that produces a battery with both a longer shelf life and higher energy density, allowing it to be installed within the passenger compartments of vehicles.

The acquisition of LCE is subject to certain conditions, including due diligence and the execution of agreements with certain third parties. Exide expects to close the transaction within 60 days.

Exide Corporation, with annual revenues of approximately $2.4 billion and operations in 19 countries, is the world's largest manufacturer of automotive and industrial lead-acid batteries. Further information about Exide's businesses and products is available at www.exideworld.com.

Go to reply# or date (mm/dd/yy):

Reply	Message Preview	From	Recs	Posted
10	Exide Corporation Acquires Majority Interest in Potential `Breakthrough' Ba	Dennis Roth	-	12/26/1999
9	Which market are you talking about? I see a slow erosion of price continuing to	Adelantado	-	9/29/1999
8	It seems that Market likes this move.	Manx	-	9/29/1999
7	But are they recharable or do you just throw the buggers away as you cruise dow	Adelantado	-	9/28/1999
6	So far, so good!	Manx	-	9/28/1999
5	OOPS! Sorry about the mix up. John	John M Connolly	-	9/27/1999
4	Although I can't swear to it, I doubt they're related. Here's somet	Bob A Louie	-	9/27/1999
3	Question: Is this Lutz anything to do with Carlton Lutz - if so, watch out. J	John M Connolly	-	9/27/1999
2	<Its use in larger devices would follow, and could include wheel chairs, mot	Bob A Louie	-	9/27/1999
1	I checked out a Morgan Stanley research report from Aug 30. Under a section lab	Bob A Louie	-	9/27/1999

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