A scooter company this week placed a $2 million order with Valence Technology, Inc. (NASDAQ:VLNC) for lithium phosphate battery systems. Shipments have already begun to Oxygen SpA, based in Padua, Italy, for use in their all-electric road scooters.
The vehicles are designed for delivery and for city use and can run up to 74 miles on a single charge. They reach a top speed of 27 mph while carrying 200 pounds. The supply will continue for the next four months. Oxygen SpA has placed orders with Valence before.
“With over 500 Cargoscooters already on the road utilizing our energy storage technology, we are delighted to build on this successful relationship with Oxygen,” said Alastair Johnson, Valence vice president, Worldwide Sales and Marketing. “This purchase order signals Oxygen’s commitment to incorporate Valence solutions across their product line.”
Austin, Texas-based Valence says its lithium phosphate batteries outperform lead-acid and nickel-zinc batteries “and are inherently safe with virtually no emissions.”
“We have been so pleased with the delivery and performance of Valence’s energy storage solutions over the last three years, we released this purchase order as a vital aspect for the continued success and growth of our Cargoscooter,” said Oxygen CEO Antonio Croppo.
Valence has facilities in Nevada, China and Northern Ireland.
Let us hear your thoughts below: