Aug 3 2010
Valence Technology, Inc. (NASDAQ: VLNC), a leading U.S. based global manufacturer of advanced energy storage solutions, today announced a purchase order from Smith Electric Vehicles U.S. to deliver $13 million of energy storage modules for Smith’s line of all electric commercial trucks through the remainder of 2010.
“On the heels of President Obama’s recent visit to Smith’s Kansas City manufacturing facility, Valence is proud to participate in the administration’s goal to increase the commercialization of electric vehicles while simultaneously stimulating our economy and reducing our dependence on fossil fuels,” said Robert L. Kanode, President and CEO of Valence Technology.
“The order demonstrates, yet again, the strong relationships Valence has built with our customers. The flexibility and immediate availability of our proven U-Charge® system continues to fulfill the high performance energy needs our customers require, offering economies of scale and unchallenged access to major world markets. Our U-Charge® lithium phosphate energy storage solutions are setting the standard for electric powered applications in the commercial fleet market with proven in-field performance and the ability to provide a quiet, pollution-free experience,” continued Kanode.
“Fleet truck customers demand vehicles to meet rigorous reliability and performance standards. Valence products have exceeded these standards for us both in the lab and on the road,” said Bryan Hansel, CEO of Smith Electric U.S.