Automotive Electronics

Lithium Technology Announces Placement Agent

Lithium Technology Corp. (Plymouth Meeting, PA) announced that they have engaged Rodman & Renshaw as their exclusive placement agent in preparing and completing a private offering of approximately $4,000,000 of the Company's securities. Proposed terms include convertible preferred stock to be offered at a premium to the current market price. Lithium Tech is moving forward in their plans to productionize their lithium ion polymer batteries and say this round of financing will bring them into the commercial arena. The up-and-running pilot line has proven their manufacturing placement, so now they're bringing online packaging, mixing and emission control equipment that will enable them to began commercial production.Lithium Technology's new generation of solid state rechargeable batteries are intended for use in portable electronic devices such as notebook computers, cell phones and medical equipment. Their patented technology uses high performance fibers in composite battery structures and low cost continuous flow fiber web coating and handling processes for manufacturing.

Lithium Technology Corp.
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