Valence Technology receives $12M purchase order from Wrightbus for Li-ion batteries

Valence Technology, Inc. has received a purchase order valued at $12 million from Wrightbus, for lithium iron magnesium phosphate batteries to be delivered through 2015. Wrightbus, which has had a relationship with Valence since 2007, selected Valence as the battery supplier of choice for Wrightbus’ range of hybrid vehicles.

We are very pleased to work with Wrightbus as they continually meet the evolving needs of their customers. This order once again demonstrates that we have the technology of choice for leading edge hybrid and electric commercial fleets. Valence has been manufacturing safe, reliable energy storage solutions since 2005. Over the last eight years, we have powered more than 60,000 motive applications including electric trucks, buses, commercial delivery vehicles, scooters, motorcycles, and personal mobility vehicles.

—Joe Fisher, CEO and president, Valence Technology

Valence recently announced the availability of the U-Charge P40-24, the first in a new generation of high-power battery modules utilizing the company’s lithium iron magnesium phosphate chemistry. The 1.024 kWh (25.6 V, 40 Ah) module is capable of 10-second discharge pulses of up to 700A (17C) and continuous discharge currents of 240A (6C). Along with providing high power discharge capabilities, the P40 can also be recharged from a 0% state of charge (SOC) to 90% SOC in less than an hour.

Source: Green Car Congress

Valence Technology powers first electric bus at Heathrow Airport

Valence Technology, Inc. is supplying the lithium phosphate battery for Heathrow Airport’s first electric bus. The Optare Solo’s electric drive is powered by an 85 kWh, 600V Valence U-Charge lithium iron magnesium phosphate battery system.

The pack can be recharged through regenerative braking in transit and plug-in power at the bus base at Heathrow.

The all-electric Optare Solo, which went into service on 5 September, shuttles British Airways staff between Terminal 5 at Heathrow and the British Airways headquarters at Waterside. Operated by Flights Hallmark, the Solo is the first all-electric bus in operation at a UK airport.

Covering a daily route of between 50 to 60 miles, the green-branded Solo is expected to log nearly 18,000 miles per year, reducing CO₂ emissions by an estimated 20 tons compared to a diesel-powered bus.

Source: Green Car Congress

Valence Powered Courb C-ZEN All-Electric Vehicle

PRESS RELEASE

Valence Technology, Inc. (NASDAQ: VLNC), a leading U.S. based global manufacturer of advanced energy storage solutions, announced today it will supply the lithium phosphate batteries for a new electric vehicle designed by Courb. Valence will join Courb at the official launch of their C-ZEN vehicle at the Geneva Motor Show.

"Valence has been an indispensable technical partner these past two years and their energy efficient, pollution-free batteries are a critical component in the C-ZEN. In addition, Valence's service and technical expertise have been world-class."
A revolutionary design for a passenger vehicle, the C-ZEN can be legally driven in many European countries and is targeted at urban commuters, particularly the younger generation of drivers. The all-electric vehicle has been designed from the ground up to utilize Valence's patented lithium phosphate batteries. The C-ZEN has a range of up to 205 kilometers (125 miles) with a top speed of 110 km/hour (68 mph) and is powered by a 15kW electric motor.

"Valence has been supporting and developing the on-board electrical power system for this innovative vehicle over the past two years. We believe Courb's leadership and technical team possess the true innovative spirit necessary to make their electric vehicle a winner in this developing field. We are very pleased to be a key partner with Courb and look forward to powering their vehicles for many years to come," stated Valence president and chief executive officer Robert L. Kanode.

Hervé Arnaud, CEO of Courb, said, "Valence has been an indispensable technical partner these past two years and their energy efficient, pollution-free batteries are a critical component in the C-ZEN. In addition, Valence's service and technical expertise have been world-class."

About Valence Technology, Inc.

Valence Technology is a global leader in the development and manufacture of safe, long-life lithium iron magnesium phosphate advanced energy storage solutions and integrated command and control logic. Headquartered in Austin, Texas, Valence enables and powers some of the world's most innovative and environmentally friendly applications, ranging from commercial electric vehicles to industrial and marine equipment. Valence Technology today offers a proven technology and manufacturing infrastructure that delivers ISO-certified products and processes that are protected by an extensive global patent portfolio. In addition to the corporate headquarters in Texas, Valence Technology has its Research & Development Center in Nevada, its Europe/Asia Pacific Sales office in Northern Ireland and global fulfillment centers in North America and Europe. Valence Technology is traded on the NASDAQ Capital Market under the ticker symbol "VLNC." For more information, visit www.valence.com.

Valence Technology Lithium Phosphate Batteries to Power Courb Electric Passenger Vehicle

Valence Technology, Inc. (NASDAQ: VLNC), a leading U.S. based global manufacturer of advanced energy storage solutions, announced today it will supply the lithium phosphate batteries for a new electric vehicle designed by Courb. Valence will join Courb at the official launch of their C-ZEN vehicle at the Geneva Motor Show.

Courb C-ZEN electric passenger vehicle, powered by Valence Technology lithium phosphate batteries. (Photo: Business Wire)

A revolutionary design for a passenger vehicle, the C-ZEN can be legally driven in many European countries and is targeted at urban commuters, particularly the younger generation of drivers. The all-electric vehicle has been designed from the ground up to utilize Valence's patented lithium phosphate batteries. The C-ZEN has a range of up to 205 kilometers (125 miles) with a top speed of 110 km/hour (68 mph) and is powered by a 15kW electric motor.

"Valence has been supporting and developing the on-board electrical power system for this innovative vehicle over the past two years. We believe Courb's leadership and technical team possess the true innovative spirit necessary to make their electric vehicle a winner in this developing field. We are very pleased to be a key partner with Courb and look forward to powering their vehicles for many years to come," stated Valence president and chief executive officer Robert L. Kanode.

Hervé Arnaud, CEO of Courb, said, "Valence has been an indispensable technical partner these past two years and their energy efficient, pollution-free batteries are a critical component in the C-ZEN. In addition, Valence's service and technical expertise have been world-class."

About Valence Technology, Inc.

Valence Technology is a global leader in the development and manufacture of safe, long-life lithium iron magnesium phosphate advanced energy storage solutions and integrated command and control logic. Headquartered in Austin, Texas, Valence enables and powers some of the world's most innovative and environmentally friendly applications, ranging from commercial electric vehicles to industrial and marine equipment. Valence Technology today offers a proven technology and manufacturing infrastructure that delivers ISO-certified products and processes that are protected by an extensive global patent portfolio. In addition to the corporate headquarters in Texas, Valence Technology has its Research & Development Center in Nevada, its Europe/Asia Pacific Sales office in Northern Ireland and global fulfillment centers in North America and Europe. Valence Technology is traded on the NASDAQ Capital Market under the ticker symbol "VLNC." For more information, visit www.valence.com.

Valence Technology Receives $13M Battery Order from Smith Electric Vehicles US

Valence Technology, Inc. has received a purchase order worth $13 million from Smith Electric Vehicles US for Li-ion energy storage modules for Smith’s line of all electric commercial trucks through the remainder of 2010.

Smith produces the Newton, the world’s largest battery-electric-powered truck with a top speed of 50 mph, a range in excess of 100 miles on a single charge, and a payload of up to 16,280 lbs.

Valence’s cathode material is an iron-based phosphate strategically enhanced via magnesium (Mg) substitution: LiFe_(1-x)Mg_(x)PO₄. Manufactured using Valence’s technology, it offers high specific energy and power; long cycle life; safety; and low environmental impact.