Smith Electric Vehicles to Use Battery Packs From Valence Technology

February 8, 2008 – Vol. 12 No. 46

Smith Electric Vehicles to Use Lithium Phosphate Battery Packs From Valence Technology.

Valence has entered into a contract with The Tanfield Group Plc, parent of Smith Electric, to manufacture and supply the energy storage systems to power zero emission, all-electric commercial delivery vehicles.

Smith Electric Vehicles is the world’s largest manufacturer of electric vans and trucks.

Under the agreement, Tanfield will purchase up to $70 million of Valence products in the contract’s first phase. Valence has already received a firm purchase order for the first calendar quarter.

With the contract Tanfield will become the first volume customer for Valence’s third generation Lithium Phosphate Epoch (tm) technology. The Epoch technology includes an advanced management system that monitors and automatically adjusts cell performance so battery packs operate at their optimum performance capacity.

Darren Kell, Chief Executive of The Tanfield Group Plc, said “We are constantly looking for new, cost-effective technologies that can improve our zero emission commercial electric vehicles and broaden our customer base. The Valence battery pack is an efficient, inherently robust and reliable system that gives us greatly increased flexibility in vehicle design.”

Valence Technology, of Austin, Texas, developed and markets the industry's first commercially available, large-format family of lithium phosphate rechargeable batteries.

The Tanfield Group, of Newcastle, United Kingdom, is the world's leading developer and manufacturer of road-going commercial electric vehicles and aerial work platforms. Smith Electric Vehicles, was founded in 1920 and acquired by Tanfield in October 2004. (2/7/08)

Links:

Valence Technology
http://www.valence.com

Smith Electric Vehicles
http://www.smithelectricvehicles.com

Disclaimer, Forward-Looking or Safe Harbor Statement on original press release: Yes