Thank you for sharing!

Your article was successfully shared with the contacts you provided.

AUSTIN-Valence Technology Inc., which moved its headquarters to Austin earlier this year, has received a $20-million infusion from a major shareholder. The company, which has operations in Henderson, NV and Mallusk, Northern Ireland, develops rechargeable Lithium-ion polymer batteries for mobile electronic devices.

The money, in the form of a loan, comes from Berg & Berg Enterprises LLC, an affiliate of Carl Berg, a company director and shareholder. The loan is for working capital and is to be repaid by Sept. 30, 2005. The company has said it expects to report revenue of $500,000 in the second quarter and a loss of 20 cents to 25 cents a share when it releases financial results Nov. 1. Analysts expect a loss of 25 cents a share, according to Thomson Financial/First Call.

Valence said in June that it would move its headquarters to Austin from Nevada with the hiring of Stephan Godevais, a former Dell Computer Corp. executive, as president and CEO. It has moved into a 9,000-sf office at 6504 Bridgepoint Parkway in Austin’s northwest submarket.

Want to continue reading?
Become a Free ALM Digital Reader.

Once you are an ALM digital member, you’ll receive:

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 1 free article* every 30 days across the ALM subscription network
  • Exclusive discounts on ALM events and publications

*May exclude premium content
Already have an account?


Join GlobeSt

Don't miss crucial news and insights you need to make informed commercial real estate decisions. Join GlobeSt.com now!

  • Free unlimited access to GlobeSt.com's trusted and independent team of experts who provide commercial real estate owners, investors, developers, brokers and finance professionals with comprehensive coverage, analysis and best practices necessary to innovate and build business.
  • Exclusive discounts on ALM and GlobeSt events.
  • Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com.

Already have an account? Sign In Now
Join GlobeSt

Copyright © 2021 ALM Media Properties, LLC. All Rights Reserved.