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Exide Enters into Agreement to Acquire Large Interest in Lion Compact Energy

Exide Corp. (Reading, PA) announced it has entered into a preliminary agreement to acquire a controlling interest in Lion Compact Energy (LCE), in a deal worth up to $20.0 million. LCE is a privately held company conducting research in dual-graphite battery technology.

Exide expects the batteries developed by LCE will be able to produce more than three times as much energy as today's most advanced production batteries, with half the weight, occupying less space, and at only one third the cost. LCE has thus far produced several prototype batteries using graphite in different forms as electrode material. While LCE does not currently have any marketable products, the initial applications for these advanced batteries include smaller battery-operated devices, including cell phones, cameras, laptop computers, power tools and certain military equipment. Exide expects to close the transaction within 60 days.In another advance earlier this year, Exide began marketing its Orbital Select automotive battery – a cylindrically wound battery that represents what Exide claims is the first technology that produces a battery with a longer shelf life and higher density, allowing it to be installed within the passenger compartments of vehicles.

Exide Technologies
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