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 the deal:

Alastair Johnston, Valence’s Vice President, Worldwide Sales and Marketing, said: “Oxygen has set the standard for the electric delivery of post in Europe far ahead of its competitors, and we are proud to have contributed the enabling technology which has made this possible. This is another in a series of supply agreements we have signed with vehicle makers in the last 12 months as our technology has been evaluated and gained acceptance in the motive and stationary markets. These supply agreements underline our growing leadership in the automotive sector. Our development of safe energy storage solutions based on lithium iron magnesium phosphate technology is being recognized as one of the best options available by a wide range of vehicle makers as they provide eco-friendly solutions to transportation needs.”

Commenting on the new contract, Antonio Croppo, CEO of Oxygen, said: “Valence has been one of our core technical partners for more than three years and we have been delighted by its service and technology, hence our commitment to sign a supply agreement. We expect to grow our business significantly in the years ahead and Valence will play a key role in our growth.”

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