Lithium Technology Corporation (LTC) (OTC: LTHU), a leading manufacturer in the large rechargeable lithium battery market, is pleased to announce the receipt of a repeat order of approximately $1.1 million for an unmanned underwater vehicle (UUV) application.
LTC developed this pressure-tolerant battery cell technology over the past two years and has seen tremendous success with the applications. The cells are developed to withstand enormous pressure underwater with productive and flawless operation. Using these cells, the customer has logged nearly 1000 hours of pressure testing on LTC's final cell design without a single failure - a result that validates LTC's technical superiority.
"LTC consistently delivers superior technological products, and it has paid off," commented Dr. Klaus Brandt, CEO of LTC. "We know that developing high quality products is a critical part of our sales effort. Our team is focused on delivering exceptionally reliable products that the car manufacturers, defense agencies and contractors and large OEMs demand."
The battery using LTC's cells is the only power source for the UUV, which is used for military applications as well as commercial applications including oil exploration, water tunnel inspection and cinematography. This demonstrates the customer's great reliance on LTC's ability to produce high performance lithium-ion battery cells.
"Today, LTC is gearing up for mass manufacturing, and we are setting the basis for a rapid change," said Dr. Brandt. The new management team is working relentlessly to improve and secure all facets of our operations, and is committed to maximize the value to our shareholders."