Valence Technology Inc. and Acer Inc. Sign Memorandum of Understanding; Acer and Valence Agree Upon Design for Standalone Mobile Power System.Business Editors & High-Tech Writers AUSTIN, Texas--(BUSINESS WIRE)--Feb. 14, 2002 Valence Valence, city, France Valence (väläNs`), city (1990 pop. 65,026), capital of Drôme dept., SE France, in Dauphiné, on the Rhône River. Technology Inc. (Nasdaq:VLNC), a leader in the development and commercialization of Lithium-ion polymer rechargeable batteries A rechargeable battery, also known as a storage battery, is a group of two or more secondary cells. These batteries can be restored to full charge by the application of electrical energy. , and Acer Acer trees of the family Aceraceae. Acer rubrum ingestion of wilted or dries leaves of this tree causes acute hemolytic anemia characterized by red urine, jaundice, anemia and methemoglobinemia in horses. Inc., one of the world's top 10 PC vendors, today announced that they have agreed upon Adj. 1. agreed upon - constituted or contracted by stipulation or agreement; "stipulatory obligations" stipulatory noncontroversial, uncontroversial - not likely to arouse controversy a specification for a standalone mobile power system utilizing Valence's Saphion(tm) Lithium-ion technology. The two companies signed a Memorandum of Understanding A Memorandum of Understanding (MoU) is a legal document describing a bilateral or multilateral agreement between parties. It expresses a convergence of will between the parties, indicating an intended common line of action and may not imply a legal commitment. to work together to introduce a commercial product with the agreed specification. The device will be compatible with a range of Acer's mobile devices and will be distributed by Acer under its company's brand. Stephan Godevais, president and CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. of Valence Technology Inc., stated, "Acer is on the cutting edge of mobile technology development. Their in-depth understanding of the underlying needs of mobile device users has contributed significantly to the differentiation and success of their innovative products." "Today, the features most important to our customers are mobility, performance and ease-of-use, and Valence's mobile power system with Saphion(tm) Lithium-ion technology incorporates all three," stated Jim Wong, president, IT products, business group for Acer Inc. "This system not only responds to a clear market need, it will significantly increase the benefits of portable electronic devices to their users." About Valence Technology Inc. Valence is a leader in the development and commercialization of Lithium-ion polymer rechargeable batteries. Valence has more than 790 issued and pending patents worldwide, including 284 issued in the United States United States, officially United States of America, republic (2005 est. pop. 295,734,000), 3,539,227 sq mi (9,166,598 sq km), North America. The United States is the world's third largest country in population and the fourth largest country in area. . The company has facilities in Austin, Texas, Henderson, Nev., and Mallusk, Northern Ireland Northern Ireland: see Ireland, Northern. Northern Ireland Part of the United Kingdom of Great Britain and Northern Ireland occupying the northeastern portion of the island of Ireland. Area: 5,461 sq mi (14,144 sq km). Population (2001): 1,685,267. . Valence is traded on the Nasdaq National Market under the symbol VLNC and can be found on the Internet at www.valence.com. About Acer Inc. Established in 1976, Acer is among the world's top 10 branded PC vendors. Acer employs marketing and service operations across Asia Pacific, Europe, the Middle East and the Americas, supporting dealers and distributors in more than 100 nations. In addition to offering a broad spectrum of IT products and computer peripherals, Acer is also a leading innovator of e-business, providing MegaMicro e-enabling solutions that combine IT products with a range of Micro services delivered via Acer's Mega infrastructure. For more information about Acer, please visit our Web site at www.acer.com. Forward-Looking Statement forward-looking statement A projected financial statement based on management expectations. A forward-looking statement involves risks with regard to the accuracy of assumptions underlying the projections. 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. |
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