LTHU Stock: Lithium Technology Corp. Signs Marketing Agreement for Advanced Motor Sports Applications
PLYMOUTH MEETING, Pa., Aug. 18 /PRNewswire-FirstCall/ -- Lithium
Technology Corporation ('LTC') (Pink Sheets: LTHU stock) and Hybrid Racing AG have
entered into an agreement to market specialized lithium-ion batteries to power
advanced vehicles for the motor sports industry. The applications will include
batteries for cars, boats and planes to be used in consumer and professional
racing vehicles.
After the successful integration of the plug-in hybrid electric vehicle
('PHEV') Apollo/HHF Hybrid Concept car ('HHCC') made by Gumpert and operated
by Mr. Heinz-Harald Frentzen, President of Hybrid Racing AG and ex-Formula One
(F1) racer and 1997 vice world champion, the parties concluded that there is
an immediate need for LTC's unique and innovative products in the advanced
motor sports world.
'This is another opportunity for LTC to demonstrate, as we have long
believed, that racing plays a significant role in pioneering the use of new
technologies, such as lithium ion batteries,' commented Dr. Klaus Brandt,
President and chief technical officer of LTC. 'We have proven and will
continue to prove the superior performance of our batteries under extreme
conditions while taking the opportunity in this arena to exhibit the benefits
and viability of our products to the traditional auto manufacturers.'
The first race car utilizing LTC's advanced lithium ion battery, the HHCC,
uses a 3.3 liter V8 bi-turbo petrol mill with a 100kW electric motor. The 9kWh
GAIA(R) battery is made of 90 high power 27Ah connected in series and weighs
about 150 kilograms. The battery includes an advanced battery management
system (BMS) that transmits performance data via satellite for monitoring and
enhanced performance control to the technical team. The battery is charged
prior to races and recoups energy from braking during the race, as in PHEV
mode. The electric range of the vehicle is approximately 50 kilometers. The
HHCC was presented at the Formula-1 event at the Bavaria City racing event on
August 17th next to Rotterdam, the Netherlands.
'After several months of hands-on experience with LTC's battery technology
we are confident with their power and energy solutions and are excited to form
an extended partnership with a company that will not only meet our battery
needs, but will help motor sports to regain its position in the forefront of
technical development and push the advancements of cars outside of the
racetrack to be more energy efficient,' commented Mr. Frentzen. 'We are going
to promote and market LTC's batteries to all vehicles that require advanced
batteries that are light weight and powerful for improved performance.'
The endorsement of Mr. Frentzen and Hybrid Racing AG proves the
superiority of LTC's battery technology that is currently available. From
racetracks to highways, to the depths of the ocean and up into space, LTC is
powering the world in extraordinary ways. The Company manufactures a range of
cells with two different types of lithium ion chemistries, iron-phosphate and
nickel-cobalt. Both chemistries coupled with the company's innovative end-to-
end manufacturing processes and proprietary design and assembly techniques,
allow LTC to provide large high performance cells and batteries unmatched by
any other product that are being used in the most demanding applications in
the transportation, defense and stationary markets.
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
monitoring.
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
About Mr. Heinz-Harald Frentzen: Heinz-Harald Frentzen is a German racing
driver most famous for his career in Formula One. At various times driving for
Williams, Jordan, Sauber, Prost, and Arrows, he achieved three race wins
before his retirement from F1 in 2003. For more information about Mr. Frentzen
and his company please visit http://www.frentzen.de/2006/e/index.html and
http://www.hybrid-racing.ch
