PLYMOUTH MEETING, PA., November 27 /CNW/ - Lithium Technology Corporation
(LTC) (OTC: LTHU), a leading manufacturer in the large rechargeable lithium
battery market, is pleased to announce the receipt of a repeat order of
approximately $1.1 million for an unmanned underwater vehicle (UUV)
LTC developed this pressure-tolerant battery cell technology over the
past two years and has seen tremendous success with the applications. The
cells are developed to withstand enormous pressure underwater with productive
and flawless operation. Using these cells, the customer has logged nearly 1000
hours of pressure testing on LTC's final cell design without a single failure
- a result that validates LTC's technical superiority.
"LTC consistently delivers superior technological products, and it has
paid off," commented Dr. Klaus Brandt, CEO of LTC. "We know that developing
high quality products is a critical part of our sales effort. Our team is
focused on delivering exceptionally reliable products that the car
manufacturers, defense agencies and contractors and large OEMs demand."
The battery using LTC's cells is the only power source for the UUV, which
is used for military applications as well as commercial applications including
oil exploration, water tunnel inspection and cinematography. This demonstrates
the customer's great reliance on LTC's ability to produce high performance
lithium-ion battery cells.
"Today, LTC is gearing up for mass manufacturing, and we are setting the
basis for a rapid change," said Dr. Brandt. The new management team is working
relentlessly to improve and secure all facets of our operations, and is
committed to maximize the value to our shareholders."
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,