Industrial battery manufacturer, marketer and distributor EnerSys has signed a memorandum of understanding with Lithium Technology Corporation. The agreement calls for the establishment of a relationship for the advancement of large lithium ion batteries between the parties. The parties intend to finalise the agreement in the coming months.

Under the proposed agreement, EnerSys will become the exclusive distributor of Lithium Technology's product line of large-format lithium ion batteries and cells to the defense and aerospace markets globally. In addition, EnerSys will market Lithium Technology products to the reserve power and renewable energy markets on a non-exclusive basis.

John Craig, chairman, president and chief executive officer of EnerSys, says the relationship with Lithium Technology will allow EnerSys to "offer our customers additional lithium ion product options to complement our broad line of lead acid and other specialty products to meet our customers' applications and needs".

Dr. Klaus Brandt, president and chief technology officer of Lithium Technology Corporation, says the agreement underscores his company's role as an industry leader. "We believe that the partnership, which started approximately a year ago, will increase our exposure in the battery market and increase our revenue growth."