Valence Technology

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Valence Technology, Inc
Type Public
Traded as OTC Pink: VLNCQ
Industry Electronics
Communications
Founded 1989
Headquarters Austin, Texas
Key people CEO Robert L. Kanode
Products Specialty chemicals electric vehicles
Revenue Increase US$ 45.88 million (2010)[1]
Operating income Increase US$ 36.44 million (2010)
Net income Increase US$ 9.4 million (2010)
Employees 433[2]
Website http://www.valence.com/

Valence Technology, Inc. develops and manufactures advanced lithium iron phosphate cathode materials as well as programmable battery modules and trays. Valence's products are used in electric vehicle and Plug-in hybrid electric vehicles (PHEVs) such as cars, scooters, motorbikes, commercial vehicles such as buses, delivery vans and trucks. Valence batteries are also used in wheelchairs, medical carts, robotics, as well as stationary applications such as remote power, uninterruptible power supply (UPS), community energy storage, frequency regulation and switching gear in telecoms.

History[edit]

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] Carl Berg is Chairman and principal stockholder of Valence Technology and in March 2007, Robert L. Kanode was appointed as President and Chief Executive Officer.[5]

Exports[edit]

The company holds an extensive, international patent portfolio of issued and pending lithium phosphate patents.[6] 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.[7][8]
  • Smith Electric Vehicles, a UK-based manufacturer making electric delivery vehicles including the Newton and Edison trucks [9]
  • PVI - A French Manufacturer developing a range EV platforms exclusively for Renault Trucks, as well as electric buses and other vehicles.[10]
  • EVI-USA – A US-based manufacturer developing a range of commercial delivery vehicles, fully electric and hybrid including EviLightTruck[11]
  • Wrightbus- A Northern Ireland based bus manufacturer developing hybrid double-decker buses [12]
  • Oxygen SpA - an Italian company that makes an electric scooter called Cargoscooter[13][14]
  • Brammo - a US manufacturer who are selling electric motorcycle the Enertia through Best Buys [15]
  • Enova Systems for the IC Bus plug-in hybrid school buses [16]
  • Optare Buses [17]
  • Mercedes - providing its lithium battery storage systems for the new Mercedes eVito [18]

Recent events[edit]

In 2009 Valence has signed development agreements with Siemens to develop interfaces for hybrid applications in the marine market,[19] and with S&C Electric to develop solutions for the stationary energy storage market [20]

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.[21]

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.[22]

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.[23] The company listed approximately $31.5 million in assets and over $82 million in liabilities.

See also[edit]

References[edit]

  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
  3. ^ "Valence Announces Retirement of Lev Dawson". Business Wire. 
  4. ^ "Valence Technology Incorporated". ZIBB. [dead link]
  5. ^ "Valence Technology Appoints Robert L. Kanode as CEO and President". PowerPulse.net. 
  6. ^ "Extensive and International Patent Portfolio". Valence Web Site with links to USPTO site. 
  7. ^ "AValence and Segway Develop Technology Program". Advanced Battery Technology. 
  8. ^ "Technology Innovations". Segway Corporate Site. 
  9. ^ "ASmith Electric Vehicles to Use Lithium Phosphate Battery Packs From Valence Technology". Green Energy News. 
  10. ^ "AValence Signs Battery Contract With PVI". Sustainable Business. 
  11. ^ "AEVI Cruises into Mid-America Trucking Show with First "Road Ready" Commercial Electric Vehicle to Hit the U.S. Market". Reuters. 
  12. ^ "AWrightbus DB 250 Eclipse Diesel Electric Hybrid Bus". Irish Buses. 
  13. ^ "Valence Technology and Oxygen Sign Supply Agreement". BusinessWire. 
  14. ^ http://www.oxygenworld.it/en/2/one-platform-infinite-possibilities
  15. ^ "Brammo Launches First Production Battery-Electric Motorcycle; Uses Valence Li-Ion Batteries". Green Car Congress. 
  16. ^ "Hybrid School Bus Employs Phosphate Batteries – Power Electronics Technology". – Power Electronics. 
  17. ^ "Optare Shows Hybrid and Electric Buses". Green Car Congress. 
  18. ^ Green Stocks Central http://greenstockscentral.com/valence-technology-vlnc-providing-lithium-batteries-for-mercedes-evito-taxis-in-london-2981.html |url= missing title (help). 
  19. ^ "Hybrid ship ahoy: Valence to supply Siemens". Green Tech. 
  20. ^ "Valence Technology Signs MOU with S&C Electric Company to Develop Grid-Connected Energy Storage Systems". Green Tech. 
  21. ^ "Valence Technology Signs MOU with S&C Electric Company to Develop Grid-Connected Energy Storage Systems". Green Car Congress. 
  22. ^ "Will Valence’s European Bet Win It a Profit?". 
  23. ^ "DETAILS OF VALENCE TECHNOLOGY’S CHAPTER 11 BANKRUPTCY PETITION". 

External links[edit]