Nov. 19, 2010 (Business Wire) -- Valence Technology, Inc. (NASDAQ: VLNC), a leading U.S.-based manufacturer of advanced energy storage solutions, announced today that the Mercedes Electric Vito (eVito) Taxi – a seven-seat electric vehicle powered by Valence batteries – was awarded Most Economic & Environment Friendly Multi-Purpose Electric Vehicle at the Royal Automobile Club’s (RAC) Future Car Challenge. Held in the United Kingdom earlier this month, the Future Car Challenge drew a crowd estimated at more than 250,000.
The class-winning Zytek Mercedes eVito taxi, powered by Valence batteries.
The class-winning Zytek Mercedes eVito taxi, powered by Valence batteries.
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About Valence Technology, Inc.:
Valence Technology is a global leader in the development and manufacture of safe, long-life lithium iron magnesium phosphate advanced energy storage solutions and integrated command and control logic. Headquartered in Austin, Texas, Valence enables and powers some of the world's most innovative and environmentally friendly applications, ranging from commercial electric vehicles to industrial and marine equipment. Valence Technology today offers a proven technology and manufacturing infrastructure that delivers ISO-certified products and processes that are protected by an extensive global patent portfolio. In addition to the corporate headquarters in Texas, Valence Technology has its Research & Development Center in Nevada, its Europe/Asia Pacific Sales office in Northern Ireland and global fulfillment centers in North America and Europe. Valence Technology is traded on the NASDAQ Capital Market under the ticker symbol "VLNC." For more information
About Valence Technology, Inc.:
Valence Technology is a global leader in the development and manufacture of safe, long-life lithium iron magnesium phosphate advanced energy storage solutions and integrated command and control logic. Headquartered in Austin, Texas, Valence enables and powers some of the world's most innovative and environmentally friendly applications, ranging from commercial electric vehicles to industrial and marine equipment. Valence Technology today offers a proven technology and manufacturing infrastructure that delivers ISO-certified products and processes that are protected by an extensive global patent portfolio. In addition to the corporate headquarters in Texas, Valence Technology has its Research & Development Center in Nevada, its Europe/Asia Pacific Sales office in Northern Ireland and global fulfillment centers in North America and Europe. Valence Technology is traded on the NASDAQ Capital Market under the ticker symbol "VLNC." For more information
The eVito Taxi, which was developed by a consortium comprising of Mercedes Benz (UK), Zytek Automotive, and Valence was among the 60 eco-friendly vehicles competing in the event in three categories – Electric, Hybrid and Internal Combustion Engine. Within each category, entries were measured for the energy used during the drive from Brighton to London. The winners in each category completed the event with the least energy consumed. The Vito finished the 57-mile run with approximately 30 percent of its battery capacity to spare.
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