In the company’s news yesterday,
Valence announced the completion of a supply agreement with Brammo Inc., which manufactures ultra-efficient, lightweight vehicles. Per the agreement, the companies will work on a collaborative development strategy in which Valence will provide lithium phosphate batteries for Brammo’s Enertia all-electric motorcycle.
According to Valence, the deal represents the efforts of both companies in their quest to expand their presence in the storage solution and electric vehicle markets.
“We are very pleased to announce this agreement as it reflects the hard work and collaboration of both the Valence and Brammo teams,” Robert L. Kanode, president and CEO of Valence stated in the press release. “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.”
Brammo’s Enertia motorcycle weighs 280 pounds, exceeds 50 mph, and emits no pollutants or carbons. The motorcycle runs at about 40 cents per charge, or 1 cent per mile. While Brammo itself is impressed with the vehicle, the company is confidant the motorcycle will quickly gain notoriety in the electric vehicle market.
“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. “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.”
Valence’s energy storage solutions not only minimize Enertia’s carbon footprint, but offer a fully recyclable lithium phosphate battery, making the vehicle an all-around green choice.
About QualityStocks
QualityStocks, based in Scottsdale, Arizona is a free service that collects data from hundreds Small-Cap and Micro-Cap online Investment Newsletters into one Free Daily Newsletter Report. QualityStocks is dedicated to assisting emerging public companies with their advertising efforts and now has over 500,000+ subscribers that receive The Daily Stock Newsletters.
To sign up for “The QualityStocks Daily Newsletter” please visit http://www.qualitystocks.net/
Please see disclaimer on QualityStocks website: http://Disclaimer.QualityStocks.net
Forward-Looking Statement:
This release may contain forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. All forward-looking statements are inherently uncertain as they are based on current expectations and assumptions concerning future events or future performance of the company. Readers are cautioned not to place undue reliance on these forward-looking statements, which are only predictions and speak only as of the date hereof. Risks and uncertainties applicable to the company and its business could cause the company's actual results to differ materially from those indicated in any forward-looking statements.
