Press Release from TMCnet.com:
AUSTIN, Texas --(Business Wire)-- Dec. 1, 2004 -- Valence Technology, Inc. (NASDAQ:VLNC), a leader in the development and commercialization of Saphion(R) technology, the only safe large format Lithium-ion rechargeable battery technology, has received a second order from Alternativ Canada, a developer of alternative energy technologies, for field trials of its U-Charge(TM) Power Systems. Alternativ Canada has purchased the U-Charge systems to power a fleet of electric Hyundai Accents.
Alternativ Canada selected the U-Charge systems over lead acid batteries, which the company used in the past. With Valence's U-Charge systems, the cars will increase their range from approximately 30 kilometers to 100 kilometers before needing to recharge. The U-Charge is superior to lead acid batteries in other key areas including: lower weight, higher energy density, smaller footprint (occupied less space under the hood) and longer life.
"With the growing global energy crisis and rising environmental concerns, Valence has the ideal green solution for fleets of alternatively-powered vehicles," said Valence CEO Stephan Godevais. "Our U-Charge product provides triple the driving distance, higher performance, reduced weight and space savings, all in a 'green package', allowing Alternativ Canada to make what was once only a vision into a reality."
Alternativ Canada converts conventional combustion engine cars into electric cars to decrease greenhouse effect emissions and give traditional gas cars a new life by converting them to Zero Emission Vehicles (ZEV). Alternativ Canada will lease the electric cars back to businesses throughout Canada for making local deliveries. Alternativ Canada is working to convert a 100-car fleet within the next year.
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