Oxygen Chooses Valence Technology Batteries to Power Electric Scooters; U-Charge(R) Power Systems Enable Longer Range, Higher Re
September 29 2005 - 8:02AM
Business Wire
Oxygen S.p.A., a provider of electric transporters, has chosen
Saphion(R) lithium-ion battery systems from Valence Technology,
Inc. (Nasdaq: VLNC) to power two models of electric scooters.
Saphion technology is the industry's first commercially available,
safe, large-format lithium-ion rechargeable battery technology.
Oxygen's electric transporters are designed for businesses and
commuters who require reliable and economical transportation that
is both functional and enjoyable. The vehicles are ideal to serve
transportation and delivery needs in congested cities without
adding pollution. "We selected Valence's U-Charge Power Systems
because they offer the range, reliability and longevity needed for
our electric scooters. We also like the fact that they require no
maintenance and are environmentally friendly," said Raffaello
Locatelli, co-founder and director of Oxygen S.p.A. "With these
batteries, we can offer our customers clean-running, cost-effective
transportation solutions for personal and commercial use." Oxygen
will use the U-Charge U1 Power System in its Oxygen E, which is
designed to address the need for low-cost transportation in
congested urban areas, recreational areas such as beaches or
resorts, and restricted communities where gas-powered vehicles are
prohibited. The Oxygen scooters feature advanced technologies, such
as brush-less motor, electronic engine control and regenerative
braking to recharge the battery. The Oxygen Cargo Scooter will use
either the U-Charge U1 or U24 Power System, depending on customer's
needs. This larger scooter offers a comfortable ride and excellent
handling, has a cargo box that can be custom designed to store a
variety of commodities and has a range of up to 86 miles. Oxygen
vehicles powered by Saphion batteries will be available starting
late this year, with volume production beginning in first quarter
2006. U-Charge Power Systems are based on Valence's Saphion
technology. Its phosphate cathode material is fundamentally safer
and more environmentally friendly than metal-oxide cathode
materials. The performance advantages of traditional lithium-ion
coupled with the safety features of phosphates make Saphion
batteries optimal for a wide variety of motive applications. When
compared to other battery technologies, Valence's Saphion batteries
offer the best combination of performance, safety, cost and
reliability. About Oxygen S.p.A. Oxygen develops, manufactures,
markets and distributes environmentally friendly, technologically
advanced light electric and hybrid vehicles. Its advanced electric
transporters compete directly with gas equivalent products,
offering equal to superior overall performance, while eliminating
vehicle fuel consumption and emissions. Oxygen's commercial
vehicles address the needs of postal and parcel delivery companies,
police organizations, food delivery chains, and traditional and
e-commerce retailers. Among Oxygen's customers are the Milan Police
in Italy, Lungta Course in France, and a pizza delivery chain in
the Netherlands. The company's vehicles are currently being tested
by some of the largest postal delivery companies in the world.
Oxygen is headquartered in Padova, Italy and can be found on the
internet at www.oxygenworld.it. About Valence Technology, Inc.
Valence Technology developed and markets Saphion(R) technology, the
industry's first commercially available, safe, large-format
Lithium-ion 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, 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 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 Valence's periodic reports filed with the Securities
and Exchange Commission, including its Report on Form 10-Q for the
quarter ended June 30, 2005, 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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