PLYMOUTH MEETING, Pa., Nov. 14 /PRNewswire-FirstCall/ -- Lithium Technology Corporation ("LTC") (BULLETIN BOARD: LTHU) , a leading manufacturer in the rapidly emerging large format rechargeable Lithium battery market, announced today that the U.S. Army TACOM Life Cycle Management Command in Warren, Michigan has recently awarded to T/J Technologies a 30 month, $5.1M Tank-Automotive Research Development Engineering Center (TARDEC) program requirement. Under this award, T/J Technologies will develop and demonstrate large format lithium-ion batteries for future military hybrid vehicles.
The T/J Technologies team consists of LTC, of Plymouth Meeting, Pennsylvania; Saturn Electronics & Engineering, Inc., of Auburn Hills, Michigan; Powdermet, Inc. of Euclid, Ohio, and Science Applications International Corp. (SAIC), of Emeryville, California.
As was stated in the press release made by T/J Technologies, during the development and demonstration project performed under a separate TACOM contract managed by SAIC, test cells built by LTC using the T/J proprietary materials were shown to have superior discharge and charge performance over state-of-the-art hybrid vehicle batteries. Large format lithium-ion batteries may allow military and commercial heavy and medium duty hybrid vehicles to quickly become economically feasible.
Andrew J. Manning, President and COO of LTC, commented: "This milestone demonstrates the continuous growth that LTC has demonstrated in the past few months. Through strategic partnerships, like the one with T/J Technologies, LTC enhances its presence as a dominant player in the large format lithium-ion batteries."
About Lithium Technology Corporation:
Lithium Technology Corporation is a manufacturer of large format rechargeable Lithium Ion batteries, custom engineered for military, automotive and industrial applications. LTC customers include top tier contractors to the military and suppliers to industrial concerns requiring safe, durable, high power rechargeable power supplies for their applications and the development of new technology.
During the past twelve months, LTC and LTC's GAIA Akkumulatorenwerke GmbH subsidiary operating in Nordhausen, Germany, have contracted with ThyssenKrupp (the largest builder of non-nuclear submarines) to provide power supplies for underwater propulsion of manned submarines. Other applications include a prototype of lighter-than-air communication "stratellites"; unmanned surveillance vehicles (air, land, and underwater based); surface to air missiles; standby power applications; renewable energy generation sources (windmills); and hybrid electric vehicles ("HEV") for military uses.
LTC is leveraging its 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 with a particular focus on the U.S. and European geographic market segments where the customers prefer a domestic supplier.
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 produces high power cells designed for HEVs and military applications that can discharge hundreds of amps in times as short as a few minutes, and high capacity cells for applications such as back-up power and remote standby installations. Cells are manufactured in both cylindrical and flat form and employ proprietary extrusion, design and assembly technology. 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 monitoring.
Lithium Technology has two principal centers of operation - in Plymouth Meeting, Pennsylvania and in Nordhausen, Germany. The Plymouth Meeting office is also the corporate headquarters for the Company. Sales into the U.S. and European markets are managed out of each of the offices.
For additional information on the Company's technology and products, please visit http://www.lithiumtech.com/ or http://www.gaia-akku.com/
About T/J Technologies:
T/J Technologies designs and develops nanomaterials for alternative energy devices such as batteries and fuel cells and is based in Ann Arbor, MI. Having been awarded over 65 R&D contracts, T/J Technologies holds several patents, with many other pending in the areas of materials and energy materials technology. T/J Technologies has been named one of "50 Michigan Companies To Watch" and has been named one of Southeast Michigan's "Top Twenty Technology Companies". For more information, please see our web site at http://www.tjtechnologies.com/.
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 more information on the contract please go to the T/J website for the PR on November 8, 2005
