Valence Technology Batteries Power Fuel-Efficient School Bus
24 October 2006 - 4:38AM
Business Wire
Students may soon be traveling to school in a fuel-efficient bus
using Valence Technology, Inc. (NASDAQ:VLNC) batteries. Enova
Systems (AMEX:ENA) (AIM:ENV) (AIM:ENVS), a leading supplier of
efficient, environmentally friendly Hybrid Electric powered
systems, has ordered U-Charge� XP Power Systems based on Saphion�
phosphate technology from Valence. Enova Systems, in collaboration
with IC Corporation, the nation�s largest school bus manufacturer,
recently won a bid with Advanced Energy, a Raleigh, N.C.-based
nonprofit corporation, to provide up to 21 hybrid school buses to
11 states. Enova is providing the hybrid drive systems for the
nationwide hybrid school bus initiative and is evaluating Valence
batteries to power the new line of buses. The project provides
operational benefits to school districts, while also providing the
reduced emissions desired by the U.S. Environmental Protection
Agency and a valuable return on investment to school boards. The
hybrid school bus is expected to attain a 100 percent increase in
fuel efficiency, which becomes even more essential with rising fuel
costs affecting the school districts. �We selected Valence�s
Saphion� phosphate batteries for their inherent safety, which
addresses the limitations of traditional lithium-ion chemistries
particularly in large batteries like those needed for hybrid
vehicles,� said John Dexter, Director of Operations and Planning,
Enova Systems. �In addition to safety, Saphion technology delivers
the power and energy that these buses demand. We are excited to
offer school districts clean-running, safe and cost-effective
transportation.� The hybrid school bus project features Enova�s
post transmission 80-kilowatt hybrid drive system coupled with
Valence�s U-Charge Power System. The system is based on a parallel
architecture, allowing the system to utilize both diesel and
electric power in a highly efficient manner. The U-Charge Power
System uses Valence�s patented Saphion� phosphate lithium-ion
technology which provides long run-time, exceptional cycle life,
and safety. Saphion technology combines the power of lithium-ion
with the safety of phosphates, a combination that is powerful yet
chemically and thermally stable. The hybrid drive system recovers
kinetic energy during regenerative braking; charging the batteries
while the bus is slowing down. This ability to charge the batteries
provides additional power for acceleration, making school busses
ideal candidates for hybrid technology because of the frequent
stops and starts they perform along their daily routes. �We�re
proud to have the U-Charge XP Power System selected to support the
nationwide hybrid school bus initiative,� said Dean Bogues,
President of Worldwide Sales & Marketing, Valence Technology,
Inc. �Valence�s Saphion batteries offer an alternative for
transportation and fleet customers looking to compete against the
rising fuel costs and reduced emissions standards to deliver the
best combination of performance, safety, cost and reliability.� The
U-Charge XP Power System U24 model is a 12.8-volt nominal battery
designed in the BCI Group 24 size and operates at standard 12-volt
lead-acid voltage ranges. This battery is capable of delivering
1500 watts continuous through a full discharge cycle and can handle
peak loads up to 3800 watts. The U-Charge XP Power System can
charge in less than two hours and power is stored at a high charge
efficiency. Each U24 model includes integrated battery monitoring
electronics and is used in conjunction with a U-BMS or application
specific battery management system. As many as 30 of the U-Charge
XP Power System batteries can be connected in a series for high
voltage applications such as pure electric vehicles, hybrid
electric vehicles, marine applications, and power back-up
applications. About Enova Systems, Inc. Enova Systems is a leading
supplier of efficient, environmentally friendly digital power
components and systems products. The company's core competencies
are focused on the development and commercialization of power
management and conversion systems for mobile and stationary
applications. Enova applies unique 'enabling technologies' in the
areas of alternative energy propulsion systems for medium and
heavy-duty vehicles as well as power conditioning and management
systems for distributed generation systems. The company develops,
designs and produces drive systems and related components for
electric, hybrid-electric, and fuel cell powered vehicles. For
further information, contact Enova Systems directly, or visit its
Web site at www.enovasystems.com. About Valence Technology, Inc.
Valence Technology developed and markets Saphion� technology, the
industry�s first commercially available, safe, large-format
Lithium-ion phosphate rechargeable battery technology. Valence
Technology 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; Las Vegas, Nevada; Mallusk, Northern Ireland 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 Some information included in
this press release contains forward-looking statements, within the
meaning of Section 27A of the Securities Act of 1933 and Section
21E of the Securities Act of 1934. Such statements include
information relating to business activities and project
development. These statements can sometimes be identified by the
use of forward-looking words such as �may,� �will,� �anticipate,�
�estimate,� �except,� �scheduled,� or �intend� and similar
expressions. Such forward-looking information involves important
risks and uncertainties that could significantly affect anticipated
results in the future and, accordingly, such results may differ
materially from those expressed in any forward-looking statements
made by or on behalf of Valence. These and other risk factors that
could affect actual results are discussed in our periodic reports
filed with the SEC, including our Annual Report on Form 10-K for
the year ended March 31, 2006, and the reader is directed to these
statements for a further discussion of important factors that could
cause actual results to differ materially from those in the
forward-looking statements. The forward-looking statements included
in this press release are made only as of the date of this release.
Valence does not undertake any obligation to update or supplement
any forward-looking statements to reflect subsequent events or
circumstances and cannot assure that projected results or events
will be achieved. Students may soon be traveling to school in a
fuel-efficient bus using Valence Technology, Inc. (NASDAQ:VLNC)
batteries. Enova Systems (AMEX:ENA) (AIM:ENV) (AIM:ENVS), a leading
supplier of efficient, environmentally friendly Hybrid Electric
powered systems, has ordered U-Charge(R) XP Power Systems based on
Saphion(R) phosphate technology from Valence. Enova Systems, in
collaboration with IC Corporation, the nation's largest school bus
manufacturer, recently won a bid with Advanced Energy, a Raleigh,
N.C.-based nonprofit corporation, to provide up to 21 hybrid school
buses to 11 states. Enova is providing the hybrid drive systems for
the nationwide hybrid school bus initiative and is evaluating
Valence batteries to power the new line of buses. The project
provides operational benefits to school districts, while also
providing the reduced emissions desired by the U.S. Environmental
Protection Agency and a valuable return on investment to school
boards. The hybrid school bus is expected to attain a 100 percent
increase in fuel efficiency, which becomes even more essential with
rising fuel costs affecting the school districts. "We selected
Valence's Saphion(R) phosphate batteries for their inherent safety,
which addresses the limitations of traditional lithium-ion
chemistries particularly in large batteries like those needed for
hybrid vehicles," said John Dexter, Director of Operations and
Planning, Enova Systems. "In addition to safety, Saphion technology
delivers the power and energy that these buses demand. We are
excited to offer school districts clean-running, safe and
cost-effective transportation." The hybrid school bus project
features Enova's post transmission 80-kilowatt hybrid drive system
coupled with Valence's U-Charge Power System. The system is based
on a parallel architecture, allowing the system to utilize both
diesel and electric power in a highly efficient manner. The
U-Charge Power System uses Valence's patented Saphion(R) phosphate
lithium-ion technology which provides long run-time, exceptional
cycle life, and safety. Saphion technology combines the power of
lithium-ion with the safety of phosphates, a combination that is
powerful yet chemically and thermally stable. The hybrid drive
system recovers kinetic energy during regenerative braking;
charging the batteries while the bus is slowing down. This ability
to charge the batteries provides additional power for acceleration,
making school busses ideal candidates for hybrid technology because
of the frequent stops and starts they perform along their daily
routes. "We're proud to have the U-Charge XP Power System selected
to support the nationwide hybrid school bus initiative," said Dean
Bogues, President of Worldwide Sales & Marketing, Valence
Technology, Inc. "Valence's Saphion batteries offer an alternative
for transportation and fleet customers looking to compete against
the rising fuel costs and reduced emissions standards to deliver
the best combination of performance, safety, cost and reliability."
The U-Charge XP Power System U24 model is a 12.8-volt nominal
battery designed in the BCI Group 24 size and operates at standard
12-volt lead-acid voltage ranges. This battery is capable of
delivering 1500 watts continuous through a full discharge cycle and
can handle peak loads up to 3800 watts. The U-Charge XP Power
System can charge in less than two hours and power is stored at a
high charge efficiency. Each U24 model includes integrated battery
monitoring electronics and is used in conjunction with a U-BMS or
application specific battery management system. As many as 30 of
the U-Charge XP Power System batteries can be connected in a series
for high voltage applications such as pure electric vehicles,
hybrid electric vehicles, marine applications, and power back-up
applications. About Enova Systems, Inc. Enova Systems is a leading
supplier of efficient, environmentally friendly digital power
components and systems products. The company's core competencies
are focused on the development and commercialization of power
management and conversion systems for mobile and stationary
applications. Enova applies unique 'enabling technologies' in the
areas of alternative energy propulsion systems for medium and
heavy-duty vehicles as well as power conditioning and management
systems for distributed generation systems. The company develops,
designs and produces drive systems and related components for
electric, hybrid-electric, and fuel cell powered vehicles. For
further information, contact Enova Systems directly, or visit its
Web site at www.enovasystems.com. About Valence Technology, Inc.
Valence Technology developed and markets Saphion(R) technology, the
industry's first commercially available, safe, large-format
Lithium-ion phosphate rechargeable battery technology. Valence
Technology 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; Las Vegas, Nevada; Mallusk, Northern Ireland 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 Some information included in
this press release contains forward-looking statements, within the
meaning of Section 27A of the Securities Act of 1933 and Section
21E of the Securities Act of 1934. Such statements include
information relating to business activities and project
development. These statements can sometimes be identified by the
use of forward-looking words such as "may," "will," "anticipate,"
"estimate," "except," "scheduled," or "intend" and similar
expressions. Such forward-looking information involves important
risks and uncertainties that could significantly affect anticipated
results in the future and, accordingly, such results may differ
materially from those expressed in any forward-looking statements
made by or on behalf of Valence. These and other risk factors that
could affect actual results are discussed in our periodic reports
filed with the SEC, including our Annual Report on Form 10-K for
the year ended March 31, 2006, and the reader is directed to these
statements for a further discussion of important factors that could
cause actual results to differ materially from those in the
forward-looking statements. The forward-looking statements included
in this press release are made only as of the date of this release.
Valence does not undertake any obligation to update or supplement
any forward-looking statements to reflect subsequent events or
circumstances and cannot assure that projected results or events
will be achieved.
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