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National security concerns continue to escalate over the sale of bankrupt US battery maker 8123.
To a Chinese company.
During president Obama's recent of non -- indicated that we need to keep such technology.
Here in the United States.
The path towards sustainable energy sources won't be long and sometimes difficult.
America cannot resist this transition.
We must leave it.
We cannot -- it to other nations the technology that will power new job and new industries we must claim its promise.
President said we cannot cede our next guest says that's exactly what were doing.
Joining us is -- pops being directed all technology acquisition for the US army under presidents bush and Obama.
He is now the co chair of a non -- Washington DC group the strategic materials.
Advisory council doing good to have you here thanks Lou and good evening.
You know that those are big words from the president and in the certainly be scratching your head because it's always -- the leader in technology.
And yet when you look at a 123.
There doesn't seem to be any response from -- for -- the committee.
On foreign investment the United States which is responsible for making the strategic -- valuation.
What's going on here specifically -- they 123 before we get to the broader strategic issues.
Well well specifically -- a 123 finds itself in a bankruptcy proceeding.
And out -- that are that 91 very important patents that it has.
To its technology.
Specifically its high and batteries that have significant military.
Power grid implications.
And -- that's really what's of national pension security concern here for the council and for many retired.
Defense officials such as myself who retired uniformed military officials and and also members of congress -- were asking.
Out what's happened to our money.
Are subsidized money green energy money that's gone.
Into these companies that now the Chinese are poised to acquire.
-- bankruptcy in addition.
The -- intelligence committee has come forth in December of 2012 and said.
There's a concerted strategy a coordinated strategy.
Going on to acquire US technology companies low and they're not talking about -- way.
Yeah hey it's one of the strangest things to -- game because reporting on this issue.
Four for now literally decades.
We know as a matter of fact they're 3500.
Chinese front companies in this country.
With two purposes.
-- either to acquire.
US technology -- US military technology.
And and the most advanced technology possible.
-- sit down and talked with premier -- And he is said to be point blank what he wants to do which is to require the most advanced technology.
In the United States.
And we have people sitting in as you mentioned Intelligence Committees in agencies.
In the executive branch of this government in particular.
Who seem to act as if it's all a surprise to them that our interest are at risk here.
It seems that a lot of people in Washington are not cut connecting the dots and is demanding that government do its job -- This -- -- -- process as you mentioned the committee on foreign investment in the United States is currently engaged.
In a confidential review of this transaction.
And they need to do their job.
The need to look at all aspects of this including.
The cross licensing agreements.
That this company has and all of the very proprietary.
Technology the very core of its batteries which are used in military satellites advanced combat vehicles.
And all sorts of places like seal delivery vehicles.
And such that make a lot of difference to our country we cannot let this slip by -- -- hap hazard process were calling on the government.
Two if they have to stop this if peace process and re wind it.
This committee rewind it or to outright even better deny this sale that's what needs to be done.
This sale the the purchase.
Of -- and by the Chinese.
Which involves oil our properties in this country.
Still without resolution and -- this is the notoriously.
Long and -- process and favorable to the transaction proposed.
In its history.
Both are not in my opinion at least some of like to get your opinion -- we conclude here.
Not an initial entry.
Well -- that's why we can't rely solely on industry.
Industry is driven by profits and we understand that business people have to do would businesspeople have to do.
But the government needs to do its number one job and protect the national security without national security.
There's no bill of rights there's no Summers in Nantucket.
There's nothing without our national security.
And giving up our proprietary technologies.
Which put our military at a disadvantage.
On the battlefield.
Is no way to protect the national security.
-- props thank you for being here thank you for what you're doing -- very important role that the strategic materials advisory area.
Our our our council and we thank you dean and what -- -- thank you -- Thank you have a great weekend future the --
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