Valence and Brammo Sign a Supply Agreement for Lithium Phosphate Energy Storage Solutions
AUSTIN, Texas November 20, 2008: Valence Technology, Inc. , an international developer of safe lithium phosphate energy storage solutions, announced today that it has finalized a supply agreement with Brammo, Inc., a leading manufacturer of ultra-efficient, lightweight vehicles. Building on a collaborative development process, Valence will provide lithium phosphate batteries for installation in Brammo’s Enertia all-electric motorcycle.
"We are very pleased to announce this agreement as it reflects the hard work and collaboration of both the Valence and Brammo teams,” said Robert L. Kanode, president and CEO of Valence. "This agreement with Brammo epitomizes our approach to work with our customers from initial introduction to final adoption, which we are currently applying to other companies that are in our development pipeline. We continue to see growing acceptance of our lithium phosphate energy storage solutions in the electric vehicle market as we educate customers on the benefits of our technology.”
Weighing only 280 pounds, the Enertia motorcycle is an urban commuter bike that exceeds 50 mph and 45 miles on a single 3-hour charge. At approximately 40 cents per charge or about 1 cent per mile, the Enertia is positioned to be the compelling green alternative for the new urban consumer. The Enertia standard model went on sale in 2008.
“Following the successful completion of $10 million in Series A funding, this supply agreement with Valence was critical as we move forward to bring our Enertia motorcycle to market next year,” said Craig Bramscher, CEO of Brammo, Inc. “The battery is the enabling technology for our bike and Valence’s chemistry provides both an amazing life cycle and inherent safety not found in other lithium-ion batteries. We have been testing and evaluating their solution for some time and we were impressed by Valence’s level of knowledge and support.”
While modern motorcycles currently produce up to 15 times the emissions per mile as the average new car or light-duty truck, the Brammo Enertia emits no pollutants or carbon while riding, making it a true zero-emissions vehicle. The lithium phosphate energy storage solutions supplied by Valence contribute to Enertia’s extremely low environmental impact. In addition to being fully recyclable, lithium phosphate is also intrinsically safer than other lithium chemistries and contains no heavy metals.