Lithium Technology Announces HEV/EV Projects with Several Major R&D Academic Institutions
PLYMOUTH MEETING, Pa., Dec. 12, 2005 -- Lithium Technology Corporation ("LTC") (BULLETIN BOARD: LTHU) , a leading manufacturer in the rapidly emerging large format rechargeable Lithium battery market, announced that through its continued relationship with universities, it will power two of the hybrid vehicles with its GAIA high power lithium ion batteries in Challenge X next year. Challenge X is sponsored by General Motors where universities compete in converting one of GM's new Equinox into a hybrid electric vehicle. Recently, LTC has supplied batteries to Penn State University and received an order from University of California - Davis. It is interesting to note that the two universities chose different battery designs. In 2004, LTC supplied Penn State a different lithium ion battery for Ford's Future Truck competition where Penn State finished second.
Lithium Technology is also supplying McGill University in Canada cells and prototyping assistance for an electric snowmobile and other mobile power applications. Electric snowmobiles and ATV are of considerable interest in the National Parks where gasoline powered vehicles are no longer permitted. LTC's GAIA cells are particularly well suited as they provide excellent "bursts" of power for acceleration, have excellent low temperature performance and hills and can be recharged rapidly. LTC is also supplying batteries to University of Texas and University of Delft in the Netherlands for solar racers.
Dr. A. J. Manning, President and COO, commented, "Our university involvement is very important to us and we make every effort to cooperate with them. They come with new design ideas, actually do the integration themselves and provide real application testing thereby contributing tremendously to our knowledge and experience base. It is definitely a 'win-win' relationship and we are very proud of the universities with whom we work and expect them to finish very well in the competition. We believe that by cooperating with leading academic institutions we will be involved in the making of new trends that related to our industry and we will maintain our technological advantage."
About Lithium Technology Corporation:
LTC produces unique large-format rechargeable batteries under the GAIA brand name and trademark. The Company supplies a variety of military, transportation and back-up power customers in the U.S. and Europe from its operating locations in Plymouth Meeting, Pennsylvania and its subsidiary GAIA GmbH in Nordhausen, Germany. For additional information on the Company's technology and products, please visit http://www.lithiumtech.com/ or http://www.gaia-akku.com/.