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US Lithium Energetics, LLC was formed in November 2001 for the purpose of acquiring the lithium ion manufacturing facility located in Gainesville, FL from Moltech Corporation, and commercializing superior quality Li-Ion batteries here in the United States. The acquisition was completed in July of 2002 and prototype batteries were coming off production lines less than 90 days later. Full production is on schedule for the first quarter of 2003. The organization is led by industry expert, Dr. Tibor Kalnoki-Kis, President and Chief Operating Officer. With over 30 years experience in the battery industry, Dr. Kalnoki-Kis has an extensive and successful background in commercializing technology, leading research and development organizations, and operating battery manufacturing facilities worldwide. Dr. Kalnoki-Kis has been a senior executive with some of the leading companies in the battery industry, including Union Carbide, Gould and Valance Technology. Dr. Kalnoki-Kis is working to position USLE as the largest supplier of Li-Ion battery cells outside of Asia.