PLYMOUTH MEETING, PA., September 20 /CNW/ - Battery industry leader
Lithium Technology Corporation ("LTC") (OTC: LTHU) is one of few companies
selected by the California Air Resources Board (ARB) as a potential technology
solution for its Zero Emission Vehicle (ZEV) initiative. The findings of the
Independent Expert Panel's (IEP) investigation of advanced technologies were
released this summer in the ZEV Technology Review.
At the 2003 ZEV Regulation hearings, the ARB adopted Resolution 03-4
directing staff to conduct a review of ZEV technologies and to advise the
Board on the findings. To accomplish this, in June 2006 the ARB convened an
Expert Review Panel to investigate the status of ZEV technologies and will
report this information to the Board.
The report reviews three key ZEV areas: battery energy storage, hydrogen
storage, and fuel cells. The expert team projected the short and long term
prospects for a number of advanced technologies ranging from hybrid and plug
in hybrids to fuel cell and battery electric vehicles, and also focused on the
ability of car manufacturers to commercialize these advances into production
vehicles. Overall, the study found that while progress is continuing and
consumer acceptance of "bridge" technologies such as hybrid vehicles is
encouraging, significant research and investment is still needed to fully
realize the mass commercialization of ZEVs.
"Advanced energy technologies are no longer a novelty of the future,"
comments Dr. Klaus Brandt, Chief Executive Officer of Lithium Technology
Corporation. "They are necessary today in solving the mounting environmental
problems we are facing. California is leading the country in many important
environmental initiatives and it is an honor to play a role in the ZEV
In September 2006 LTC announced its Pollution Buster Challenge by
inviting the automotive, agriculture, stationary power, military and
recreational industries to join forces to develop effective energy product
solutions to fight the growing pollution problems facing today's environment
and reduce the world's dependency on traditional fuel sources. Just a month
following LTC's announcement, California Governor Arnold Schwarzenneger
announced an executive order to begin implementation of landmark greenhouse
legislation, establishing climate change emission reduction targets for
California: By 2010, reduce emissions to 2000 levels; by 2020, reduce
emissions to 1990 levels; and by 2050, reduce emissions to 80 percent below
"The technology exists to make a difference today," says Brandt. "I
believe that by committing to work together, auto manufactures and battery
companies can bring the cost down to make hybrid and electric vehicles an
affordable reality for the consumer and in-turn, significantly reduce
LTC launched a new product line of lithium iron phosphate (LiFePO(4))
cells in May 2007, offering the largest cells of their kind in the world.
Further demonstrating its commitment, the Company unveiled a Toyota Prius
retrofitted with its breakthrough technology demonstrating an achievement of
125 + miles per gallon.
At an event earlier this year, Dr. Andrew Frank, Professor, Mechanical
and Aeronautical Engineering at the University of California, Davis,
commented, "LTC's iron phosphate cells provide improved safety with the
improved chemistry while delivering the impeccable performance they are known
for, which is what the auto makers have been in search of. This is a Company
that is seriously committed to making hybrid, plug-in hybrid and electric
vehicles an affordable reality for the consumer."
To learn more about the ZEV program and Technology Review findings visit:
About Lithium Technology Corporation: Lithium Technology Corporation
(LTC) is a global provider of large format rechargeable power solutions for
diverse applications, and offers the largest lithium-ion cells with the
highest power of any standard commercial lithium ion cell produced in the
western hemisphere. With more than 20 years of experience, LTC leverages its
extensive expertise in high power and large battery assemblies to
commercialize advanced lithium batteries as a new power source in the military
and national security systems, transportation and stationary power markets.
LTC manufactures the GAIA(R) product line of large, high power
hermetically sealed rechargeable lithium-ion cells and batteries. The
Company's product portfolio includes large cells and batteries from 10 times
the capacity of a standard laptop computer battery to 100,000 times greater.
LTC manufactures a variety of standard cells that are assembled into custom
large batteries complete with electronics (battery management systems) and
electronics to communicate with other components of the system for performance
LTC headquarters are located in Plymouth Meeting, PA and R&D in
Nordhausen, Germany. LTC sales for the U.S. and European markets are managed
out of each of the offices. For more information about LTC, its technology and
products, please visit http://www.lithiumtech.com.
Safe Harbor for Forward-looking Statements:
The foregoing information contains forward-looking statements, which
involve risks and uncertainties relating to such matters as financial
performance, technology development, capital raising, business prospects,
strategic partnering and similar matters. A variety of factors could cause
LTC's actual results and experience to differ materially from anticipated
results or other expectations expressed in these forward-looking statements.
This notice does not constitute an offer of any securities for sale.
For further information:
For further information: The Red Consultancy Nina Velasquez,