Valence Technology

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Valence Technology, Inc
Private
Industry Electric buses
Energy storage
UPS
Marine
Founded 1989
Headquarters Austin, Texas
Products Lithium ion battery packs
Revenue Increase US$ 45.88 million (2010)[1]
Increase US$ 36.44 million (2010)
Increase US$ 9.4 million (2010)
Number of employees
 433[2]
Website www.valence.com

Valence Technology, Inc. develops and manufactures lithium iron phosphate cathode material as well as lithium ion battery modules and packs. The modules come in 12 V, 18 V, 24 V, and 36 V configurations. Their modular design allows systems to be created up to 800 VDC and thousands of ampere-hours of capacity. Valence's products are used in electric vehicle and plug-in hybrid electric vehicles (PHEVs) such as cars, scooters, motorbikes, and commercial vehicles such as buses, delivery vans and trucks. Valence batteries are also used in wheelchairs, medical carts, robotics, marine, rail, as well as stationary applications such as remote power, uninterruptible power supply (UPS), energy storage systems, frequency regulation and switching gear.

History

Founded in 1989 as a research and development company by Lev Dawson [3] Valence has its headquarters in Austin, Texas, and facilities in Las Vegas, Nevada, Mallusk, Northern Ireland, and Suzhou, China.[4] Valence is currently owned by Berg and Berg Enterprises.

Exports

The company holds an extensive, international patent portfolio of issued and pending lithium phosphate patents.[5] Valence manufacturers its cathode material and packs in two wholly owned subsidiaries Valence Energy Tech in Suzhou, China.

Companies deploying Valence's battery technology include:

  • Segway PT in their Segway Personal Transporter.[6][7]
  • Segway SE-3 Patroller [8]
  • PVI - A French Manufacturer developing a range EV platforms exclusively for Renault Trucks, as well as electric buses and other vehicles.[9]
  • EVI-USA – A US-based manufacturer developing a range of commercial delivery vehicles, fully electric and hybrid including EviLightTruck[10]
  • Enova Systems for the IC Bus plug-in hybrid school buses [11]
  • Optare Buses [12]
  • Mercedes - providing its lithium battery storage systems for the new Mercedes eVito [13]
  • Rubbermaid Medical Carts [14]

Recent events

In 2009 Valence has signed development agreements with Siemens to develop interfaces for hybrid applications in the marine market,[15] and with S&C Electric to develop solutions for the stationary energy storage market [16]

In 2004 Valence was honored as a Top 100 Innovator by Red Herring, chosen for the high-performance, safe, low-cost and environmentally friendly attributes of its energy storage solutions.[17]

Valence began to focus on Europe about two years ago, when it realized that automakers there already were launching electric delivery vans and hybrid buses, CEO Bob Kanode said. "We were looking for a market where we could sell and we found Europe, with its incredible designs and very strong government and public support," he said. "[Europeans] are absolutely dedicated to alternative-energy solutions and view this [electric vehicles] as maybe their last opportunity to make a difference in the automotive sector."

Among other customers, Valence this year signed sales deals with Smith Electric Vehicles, a UK maker of electric commercial vans and trucks; PVI, a French manufacturer of electric buses and other vehicles; and Oxygen SpA, an Italian company that makes an electric scooter called Cargoscooter. Companies such as Modec, a UK-based supplier of electric delivery vans, and Wrightbus, a UK Wright Group subsidiary that makes double-decker buses, also are testing Valence batteries. Through these relationships, Valence is building connections to large automakers, such as Renault, which is a PVI partner; Peugeot, which is an Oxygen partner; Volvo, which is a Wrightbus partner; and Ford and Isuzu, which are Smith Electric Vehicles partners.[18]

On July 12, 2012, Valence Technology, Inc. voluntarily filed for bankruptcy protection under chapter 11 of the United States Bankruptcy Code in the United States Bankruptcy Court for the Western District of Texas.[19] The company listed approximately $31.5 million in assets and over $82 million in liabilities.

November 13, 2013, Valence emerges from bankruptcy as a private company.[20]

In 2014, Valence entered the marine market by supplying two large battery systems to create a hybrid tug boat.[21]

In 2015, Valence signs a global supply deal with Exide.[22]

See also

References

  1. ↑ http://finance.yahoo.com/q/is?s=VLNC+Income+Statement&annual Income Statement
  2. ↑ http://finance.yahoo.com/q/pr?s=VLNC+Profile Profile
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External links

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