Jul 23, 2005 (From the CalCars-News archive)
Valence's news release,
was picked up, among other places, at: http://www.theautochannel.com/news/2005/07/21/138057.html
July 21, 2005 10:00 AM US Eastern Timezone
Valence Technology Batteries Helps Drive Move to Hybrid Vehicles by Tripling Fuel Efficiency
PHOTO CAPTION The plug-in hybrid concept vehicle featured in this b-roll can be driven for longer periods of time in electric mode and offers dramatically improved gas mileage over normal hybrid vehicles. This is possible because of its lithium-ion batteries from Valence Technology and its ability to use AC power to recharge.
AUSTIN, Texas--(BUSINESS WIRE)
July 21, 2005
Valence Technology Inc.(Nasdaq:VLNC)
WHAT: Rising energy costs, more stringent emissions laws worldwide, and a call to action through President Bush's latest energy plan are driving the adoption of hybrid vehicles in the U.S. A significant factor driving this market is safe, cost-effective, reliable battery power.
WHO: Valence Technology Inc. and EnergyCS have developed a prototype "plug-in hybrid electric vehicle" (PHEV) that uses Valence's safe, environmentally friendly lithium-ion batteries providing up to three times the fuel efficiency of a standard Toyota Prius.
AVAILABLE BROADCAST-QUALITY VIDEO:
Gas station signs and pump; concept PHEV in motion and still; new battery pack developed by EnergyCS and Valence Technology that powers the PHEV; sound bites from Dean Bogues, vice president at Valence Technology Inc.; testing of Valence Technology's Saphion lithium-ion batteries; animated video depicting how a battery works; Valence Technology logo.
The U.S. hybrid and EV battery market is expected to reach $4.5 billion in 2008 -- an increase of almost 65% from 2003(a). Valence Technology Inc. (Nasdaq:VLNC), provider of Saphion(R) technology, the industry's first commercially available, safe, large-format lithium-ion rechargeable battery technology, is at the forefront powering a variety of hybrid and electric vehicles.
When auto manufacturers first developed hybrid vehicles, the only viable battery technology was nickel-metal-hydride. While some hybrids using these types of batteries can offer 50 miles per gallon, new battery technology is now available to enable even greater fuel efficiency and fewer emissions. Today, hybrid auto manufacturers have access to advanced batteries that use a phosphate-based lithium-ion chemistry to provide much more energy with less weight while meeting automobile safety standards.
A New Take on Hybrid Vehicles
A concept PHEV powered by Valence Technology batteries was recently demonstrated in Europe and the U.S. Based on a 2004 Toyota Prius, the PHEV has a fuel efficiency that can average up to 150 miles per gallon for a daily commute of 50-60 miles per day. The car reduces fuel consumption and emissions, replacing gasoline with clean, regenerable energy. This is possible because the nickel-metal-hydride battery was replaced with Valence Technology's Saphion lithium-ion batteries, which provide more than 18 times the energy. As a result, the PHEV can be driven longer in zero-emission electric mode and offers dramatically improved gas mileage, which means fewer trips to the gas station.
In addition, the concept PHEV can be plugged into a standard 110V AC electrical outlet in order to charge the battery, which currently costs as little as $.33-$1.00 in the U.S. However, if a user chooses not to charge the battery through renewable power-grid energy, the car operates as a normal hybrid.
Batteries: Enablers for Hybrid Vehicles
Battery technology is playing a key role in enabling hybrid and electric vehicles to become more ubiquitous. While the adoption of hybrid vehicles is faster for industrial and commercial fleets, such as taxis and delivery vehicles, consumer adoption is not far behind -- especially in countries with more significant environmental concerns and even higher fuel costs than in the U.S.
Based on its proprietary Saphion lithium-ion battery technology, Valence Technology's batteries replace toxic heavy metals with phosphates, creating an energy storage battery that is chemically more stable, safe and environmentally friendly than traditional oxide-based batteries. Valence Technology's batteries are also maintenance-free and offer longer life, better energy storage characteristics and lower overall ownership costs when compared to other battery types, such as lead-acid and nickel-metal-hydride.
About Valence Technology Inc.
Valence Technology developed Saphion(R) technology, the industry's first commercially available, safe, large-format lithium-ion rechargeable batteries. Valence holds an extensive, worldwide portfolio of issued and pending patents relating to its Saphion technology and lithium-ion rechargeable batteries. The company has facilities in Austin, Texas, Henderson, Nevada, and Suzhou and Shanghai, China. Valence is traded on the Nasdaq SmallCap Market under the symbol VLNC and can be found on the Internet at www.valence.com.
Safe Harbor Statement
The information contained herein includes "forward-looking statements." Valence Technology Inc. cautions readers not to put undue reliance on forward-looking statements. These forward-looking statements are not guarantees of future performance and involve risks and uncertainties, and actual results may differ materially from those described herein, for the reasons, among others, discussed in our reports filed with the Securities and Exchange Commission.
(a) Source: Business Communications Technology
NOTE TO EDITORS & PRODUCERS: Broadcast-quality video of concept plug-in hybrid vehicle and Valence's battery technology can be requested by sending an e-mail to judy.racino@... or fax to 512-527-2910. Please include the following information with your request: name, station call letters, address, city, state, zip code, phone number (this is required by the shipping company), and e-mail address.
Valence Technology Inc., Austin
Reader Contact: 888-825-3623 or info@...
Investor Contact: 512-527-2921 or investor@...
Media Contact: Lois Paul Partners LLC
Daphne Kent, 512-638-5305 or daphne_kent@...