Valence extends battery contract with Italy's Oxygen

Austin, Texas-based battery maker Valence Technology (Nasdaq: VLNC) said today it signed a deal to expand its relationship with Padua, Italy's Oxygen, a manufacturer of light electric vehicles.

Under the $2 million purchase order, Valence will supply lithium phosphate battery systems over the next four months to power Oxygen's all-electric Cargoscooter.

"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, VP of worldwide sales and marketing for Valence. "This purchase order signals Oxygen’s commitment to incorporate Valence solutions across their product line."

Oxygen originally signed a deal in 2005 to use Valence's batteries in two of its electric scooter models, the Cargoscooter and the Oxygen E.

The Cargoscooter, designed for the delivery market and for inner-city use, can run up to 120 kilometers, or 74 miles, on a single charge and reach a top speed of 45 kilometers per hour while carrying cargo of up to 90 kilograms, according to Valence.

"Now being used across Europe by numerous customers including postal delivery, food and grocery delivery, courier services and law enforcement, our Cargoscooter has built a reputation as a high-performance, clean-running and cost-effective transportation solution," said Antonio Croppo, CEO of Oxygen.

Valence said shipments to Oxygen under today's deal have already begun.

Last year, Newport, R.I.-based Vectrix, an electric scooter maker with operations in Rome, announced plans to start selling its scooters in the U.S. (see Vectrix selling souped-up scooters in U.S.). Vectrix's scooters use nickel metal hydride battery packs.

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