Tuesday afternoon, Valence Technology Inc. (VLNC), a company engaged in the commercialization of lithium-ion rechargeable battery technology, reported the signing of a technology and licensing agreement with Japan based Tianjin Lishen Battery Joint Stock Co. to commercialize high performance `Valence Proven' Lithium Phosphate Cells and Intelligent Lithium Phosphate Packs. Tianjin Lishen is engaged in the development and production of high volume Lithium Cell, added the company.
Pursuant to the agreement, Valence would provide `Valence Certified' Lithium Phosphate Cathode Material to Lishen, while Lishen will return `Valence Proven' Lithium Phosphate Cells to Valence for use in its Intelligent Packs. Lishen will also sell `Valence Proven' cells to chosen Lishen customers.
Under the agreement, Valence plans to manufacture and continue the ongoing development of `Valence Certified' Phosphate Cathode Materials. The company will also continue to develop safe `Valence Proven' Phosphate Cells with advanced batch-to-batch quality, reliability and World Trade Compliance. Valence further plans to manufacture and continue the ongoing development of its `Intelligent Battery Packs.'
Ricky Hanna, the company's Vice President of Worldwide Solutions commented, Combining Valence's safe Lithium Phosphate Cathode Materials and Packs with Lishen's Reliable Cell will offer worldwide customers superior Lithium Phosphate Battery Solutions.
VLNC is currently trading at $1.229, up $0.069 or 5.95%, on 0.44 million shares.
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