vlnc
Valence Signs Agreement with PETC for the Manufacture of Cylindrical Saphion Cells
Tuesday December 16, 10:27 am ET
AUSTIN, Texas--(BUSINESS WIRE)--Dec. 16, 2003--Valence Technology Inc. (Nasdaq:VLNC -
News), a leader in the development and commercialization of Saphion® technology, a safer Lithium-ion
rechargeable battery technology, today announced that it has signed a manufacturing agreement with
Pacific Energytech Co. Ltd. (PETC), a leading Taiwanese manufacturer of lithium-ion rechargeable
batteries. PETC will produce cylindrical Saphion cells.
"Our goal since the launch of our Saphion technology has been to work with partners to develop
cylindrical Saphion cells," stated Stephan Godevais, chairman and CEO of Valence. "Signing this
agreement marks another step forward in our manufacturing strategy, and we are excited to be taking it
with PETC."
Valence signed the agreement with PETC on December 10, 2003. Established in 1998, PETC
(www.petc.com.tw) is a leading Taiwan-based supplier of lithium-ion cells to global tier one customers.
PETC has state-of-the-art production capability in the manufacture of electrodes, and highly automated
production lines for both cylindrical and prismatic cells. Valence has received cylindrical Saphion cells
manufactured by PETC for use in its K-Charge Power System and future products. The Company
expects to launch the K-Charge system utilizing these cells early next year.
About Valence Technology Inc.
Valence is a leader in the development and commercialization of Saphion® technology, a safer
Lithium-ion rechargeable battery technology. Valence holds an extensive, worldwide portfolio of issued
and pending patents relating to its Saphion® technology and Lithium-ion rechargeable batteries. The
company has facilities in Austin, Texas, Henderson, Nev., and Mallusk, Northern Ireland. Valence is
traded on the NASDAQ SmallCap Market under the symbol VLNC and can be found on the Internet at
www.valence.com.
Forward-Looking Statement
The information contained herein includes "forward-looking statements." The company cautions readers
not to put undue reliance on forward-looking statements. Such forward-looking statements are not
guarantees of future performance and involve risks and uncertainties, and actual results may differ
materially from those described herein, for the reasons, among others, discussed in our reports filed with
the Securities and Exchange Commission.
