Valence Receives Purchase Order From Electric Vehicles International forSaphion Batteries; Saphion Technology To Be Field Tested for Use in ElectricVehicles
AUSTIN, Texas, Dec 12, 2002 (BUSINESS WIRE) -- Valence Technology Inc. (Nasdaq:VLNC), a leader in the development and commercialization of Saphion(tm) technology and Lithium-ion polymer rechargeable batteries, today announced that it has received a purchase order for Saphion(tm) batteries from Electric Vehicles International, a leading manufacturer of electric delivery trucks and shuttle buses.
The Saphion batteries will be field tested for use in electric vehicles.
"We are focused on implementing innovative technologies and new product solutions that will not only double the driving range of our vehicles, but are also cost effective and environmentally friendly, and Valence's Saphion technology fits perfectly with our goals," stated B. Samra, president of EVI. "As we continue our search for technology that will serve our needs and the needs of the electric vehicle market, we look forward to working with Valence on the evaluation of Saphion for use in these vehicles."
"EVI is clearly at the forefront of innovation when it comes to technology and products that respond to the environmental and cost concerns of consumers today," stated Stephan Godevais, chairman and CEO of Valence. "Having Saphion selected by such a company once again supports the idea that our Lithium-ion technology can deliver safety, cost and environmental benefits to the electric vehicle industry."
About Valence Technology Inc.
Valence is a leader in the development and commercialization of Saphion(tm) technology and Lithium-ion polymer rechargeable batteries. Valence has more than 722 issued and pending patents worldwide, including 254 issued in the U.S. The company has facilities in Austin, Texas, Henderson, Nev. and Mallusk, Northern Ireland. Valence is traded on the Nasdaq SmallCap Market under the symbol VLNC and can be found on the Internet at www.valence.com.
About Electric Vehicles International LLC
Electric Vehicles International, with headquarters in Anderson, Ind. designs and manufactures electric trucks, trams and buses for use in inner city applications. Since 1989, the company has developed and manufactured innovative product solutions for inner city transportation worldwide.
Forward-Looking Statement
The information contained herein includes "forward-looking statements." The company cautions readers not to put undue reliance on forward-looking statements. Such forward-looking statements are not guarantees of future performance and involve risks and uncertainties, and actual results may differ materially from those described herein, for the reasons, among others, discussed in our reports filed with the Securities and Exchange Commission. |
