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Valence Expands Relationship with Oxygen to Supply Lithium Phosphate Energy Storage Solutions

Valence Technology, Inc, an international developer of safe lithium phosphate energy storage solutions, announced today that it has expanded its relationship with Oxygen SpA, a company based in Padua, Italy, and a leader in the development, production and distribution of light electric vehicles. As part of a recently signed $2 million purchase order, Valence will supply lithium phosphate battery systems over the next four months to power Oxygen's innovative, all-electric Cargoscooter. Shipments to Oxygen have already begun.

"With over 500 Cargoscooters already on the road utilizing our energy storage technology, we are delighted to build on this successful relationship with Oxygen," said Alastair Johnson, Vice President, Worldwide Sales and Marketing for Valence. "This purchase order signals Oxygen's commitment to incorporate Valence solutions across their product line."

Oxygen's Cargoscooters are designed specifically for the delivery market and for inner-city use. By combining Valence's lithium phosphate battery technology with Oxygen's lightweight and functional design, the Cargoscooter reduces energy costs and maintenance needs, increases efficiency and driver's safety, and eliminates air and noise pollution. Significantly less costly to operate and maintain than equivalent gas powered vehicles, the Cargoscooter can run up to 120 kilometers (74 miles) on a single charge and reach a top speed of 45 km/hour while carrying cargo of up to 90 kg (200 lbs).

"We have been so pleased with the delivery and performance of Valence's energy storage solutions over the last three years, we released this purchase order as a vital aspect for the continued success and growth of our Cargoscooter," said Antonio Croppo, CEO of Oxygen. "Now being used across Europe by numerous customers including postal delivery, food and grocery delivery, courier services and law enforcement, our Cargoscooter has built a reputation as a high-performance, clean-running and cost-effective transportation solution."

Valence's lithium phosphate energy storage solution easily out-performs lead-acid and nickel-zinc batteries with best energy-to-weight ratios and is inherently safe with virtually no emissions. When compared to traditional battery technologies, Valence's energy storage solutions offer the best combination of performance, safety, cost and reliability.

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