Jim Sember, Vice President of S&C’s Power Quality Products Division, said, “Renewable energy sources like wind and solar introduce ongoing and unpredictable power variations. The incredibly fast response of advanced battery storage systems allow for compensation of these fluctuations at a level … Read the rest
Valence (VLNC) has signed a memorandum of understanding with Siemens this morning to develop advanced battery storage solutions for marine applications to be compatible with Siemen’s ELFA Hybrid drive marine propulsion system. I for one look forward to the day when battery powered boats are the norm. Gasoline powered boats are highly inefficient and big polluters of lakes, rivers and oceans… that includes noise pollution from jet skis!
Today, Valence Technology (VLNC) joins the ranks of those companies seeking government cash to build advanced battery production facilities. Just a few weeks ago General Electric announced plans to open an advanced battery production facility in New York and is seeking government funds to help finance it. Valence is applying for a $225 million grant over three years from the US Dept of Energy under the Electric Drive Vehicle Battery and Component Manufacturing Initiative in … Read the rest
Valence Technology just announced that it has signed a supply agreement OxygenSpA, a company from Italy that makes light electric vehicles, such as electric scooters. Under the terms of the three year supply agreement, Valence will supply OxygenSpA with batteries to power its electric CargoScooters, which are used by postal delivery personnel in several European countries and may soon be available here in the States.
In a press release, leaders from both countries commented on … Read the rest
Valence Technology is supplying 10 U-Charge® XP energy storage solutions to power one of motorcycles in the world’s first "green" Grand Prix, which will be held on the Isle of Man. The batteries will power the bike entered by the Imperial College London.
In an article published on EuropeanMotorNews.com, a member of Valence’s management team and a student who worked on the bike discussed the advantages of using Valence’s batteries:
Valence Technology just announced that it has applied for $608 million worth of low-interest federal loans from the U.S. Energy Department’s Advanced Technology Vehicles Manufacturing Incentive. If it receives the loans, it plans to use them to build a $760 million manufacturing plant near Austin, Texas. The planned plant would be able to supply lithium batteries for over 250,000 electric and hyrbrid vehicles each year.
Robert Kanode, Valence’s president and CEO, commented on the loan … Read the rest
Valence Technology (VLNC) which develops safe lithium phosphate energy storage systems, is announcing today a multi year non exclusive supply agreement with PVI, a French commercial electric vehicle manufacturer. VLNC will provide its U-Charge XP Energy Storage System and engineering support to power 4 commercial EV platforms and will begin shipments late next year, which could add $3 million in revenue in 2010.
“This is a major milestone in our company’s history,” said Alastair … Read the rest
Valence Technology, Inc announced today that the Opposition Board of the European Patent Office has revoked the University of Texas’ European patent for lithium metal phosphates on the basis of lack of novelty. This decision is good news for Valence because it allows the company to further develop and market its own proprietary lithium iron magnesium phosphate cathode material for electric car batteries. However, UT could choose to appeal the decision.
James Altucher of TheStreet.com posted an article this morning highlighting 6 alternative energy stocks that could go to zero. He likens the green stock mania to the dot com bubble and to some degree he’s right. There is one important lesson in all of this: stick to companies growing rapidly and decreasing debt with strong technical indicators and you won’t get burned. Simple as that.