Valence (VLNC) Signs Supply Agreement With Optare Worth Up to $3.8M

Valence Technology just announced that it has signed a supply agreement with Optare PLC. The 3-year, exclusive supply agreement makes Valence the exclusive battery supplier for the Optare Solo EV zero-emissions electric bus. The agreement is expected to generate up to $3.8 million in battery sales for Valence.

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In a press release, Robert L. Kanode, president and CEO, Valence Technology, commented on the news:

“This appointment of Valence as the exclusive supplier of batteries is a testament to the quality and proven performance of our dynamic energy systems. More automotive manufacturers are choosing Valence Technology to help make their vision of clean urban transportation a practical reality. And thanks to the UK Government’s Green Bus Fund, bus manufacturers are striving to meet stringent carbon reduction quotas while allowing riders to breathe cleaner air by putting more zero-emissions bus fleets on the road.”

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