Valence Technology Explained

Valence Technology, Inc
Type:	Private
Foundation:	1989
Location:	Henderson, Nevada
Industry:	Electric buses Energy storage UPS Marine
Products:	Lithium ion battery packs
Revenue:	US$ 45.88 million (2010)^[1]
Operating Income:	US$ 36.44 million (2010)
Net Income:	US$ 9.4 million (2010)
Num Employees:	433^[2]

Valence Technology, Inc. was a company that developed and manufactured 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. 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 Henderson, Nevada, and facilities in Las Vegas, Nevada, Mallusk, Northern Ireland, and Suzhou, China.^[4] Valence is currently owned by Lithion Battery Inc. ^[5]

Exports

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]}
• Segway SE-3 Patroller ^[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]
• Enova Systems for the IC Bus plug-in hybrid school buses ^[12]
• Optare Buses ^[13]
• Mercedes – providing its lithium battery storage systems for the new Mercedes eVito ^[14]
• Rubbermaid Medical Carts ^[15]

Recent events

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

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 emerged 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 signed a global supply deal with Exide.^[22]

In 2018, Lithium Werks acquired Valence.^[23]

In 2020, Lithium Werks sold the Valence battery module business to Lithion.^[24]

See also

• List of companies based in Austin, Texas
• Lithium iron phosphate
• Lithium iron phosphate battery
• Thermal runaway

External links

• Video of Valence Batteries in Action!
• Valence Technology Corporate web-site
• Video of safety aspects of lithium phosphate technology compared to traditional metal-oxide battery technology
• https://web.archive.org/web/20090620134700/http://www.china-sun.cn/elinkus.asp

Notes and References

1. https://finance.yahoo.com/q/is?s=VLNC+Income+Statement&annual Income Statement
2. https://finance.yahoo.com/q/pr?s=VLNC+Profile Profile
3. Web site: Valence Announces Retirement of Lev Dawson . Business Wire.
4. Web site: Valence Technology Incorporated . https://web.archive.org/web/20080521113901/http://www.zibb.com/all/theme/cq/Valence%2BTechnology%2BIncorporated . dead . 2008-05-21 . ZIBB .
5. Web site: Lithion Power Group Acquires Valence . 2021-05-06 . 2021-05-06 . https://web.archive.org/web/20210506160242/https://lithiongroup.com/acquisition-of-the-valence-branded-battery-module-business-from-lithium-werks-b-v/ . dead .
6. Web site: Extensive and International Patent Portfolio . Valence Web Site with links to USPTO site.
7. AValence and Segway Develop Technology Program . Advanced Battery Technology.
8. Web site: Technology Innovations . Segway Corporate Site . 2008-01-25 . https://web.archive.org/web/20070812141826/http://www.segway.com/personal-transporter/lithium_ion.html . 2007-08-12 . dead .
9. Web site: Segway chooses Valence for their newest product.
10. Web site: AValence Signs Battery Contract With PVI . Sustainable Business.
11. Web site: AEVI Cruises into Mid-America Trucking Show with First "Road Ready" Commercial Electric Vehicle to Hit the U.S. Market . Reuters . 2017-07-03 . 2012-09-09 . https://archive.today/20120909010618/http://www.reuters.com/article/pressRelease/idUS119305+17-Mar-2009+BW20090317 . dead .
12. Web site: Hybrid School Bus Employs Phosphate Batteries – Power Electronics Technology . Power Electronics.
13. Web site: Optare Shows Hybrid and Electric Buses . Green Car Congress.
14. Web site: Valence Technology (VLNC) Providing Lithium Batteries For Mercedes eVito Taxis In London . 6 April 2010 . Green Stocks Central.
15. Web site: Rubbermaid and Valence Extend supply agreement. Bloomberg News.
16. Web site: Hybrid ship ahoy: Valence to supply Siemens. Green Tech. 2009-07-08. 2009-07-30. https://web.archive.org/web/20090730010222/http://news.cnet.com/8301-11128_3-10257003-54.html. dead.
17. Web site: Valence Technology Signs MOU with S&C Electric Company to Develop Grid-Connected Energy Storage Systems. Green Tech.
18. Web site: Will Valence's European Bet Win It a Profit? . 2009-01-03 . 2009-01-21 . https://web.archive.org/web/20090121071816/http://earth2tech.com/2009/01/02/will-valences-european-bet-win-it-a-profit/ . dead .
19. Web site: DETAILS OF VALENCE TECHNOLOGY'S CHAPTER 11 BANKRUPTCY PETITION . 2012-07-13 . 2013-01-19 . https://archive.today/20130119061436/http://chapter11cases.com/details-of-valence-technologys-chapter-11-bankruptcy-petition-copy-of-petition-included/ . dead .
20. Web site: Valence Emerges from Bankruptcy . 2015-05-13 . 2015-05-14 . https://web.archive.org/web/20150514124036/http://www.mystatesman.com/news/business/austin-based-valence-technology-emerges-from-bankr/nbsMN/ . dead .
21. Web site: Battery Breakthrough.
22. Web site: Valence and Exide . 2015-05-13 . https://web.archive.org/web/20150514042054/http://www.ireachcontent.com/news-releases/valence-and-exide-sign-global-supply-deal-497222061.html . 2015-05-14 . dead .
23. Web site: Lithium Werks Acquires Valence Technology, Inc. . 2018-02-07 . lithiumwerks . 2023-03-15.
24. Web site: 2020-12-21 . Lithion Battery Announces the Acquisition of the Valence Branded Battery Module Business from Lithium Werks B.V. . lithionbattery.com . 2023-03-15.