Valence and Exide Sign Global Supply Deal

GENNEVILLIERS, France, and AUSTIN, Texas, Mar. 23, 2015 /PRNewswire-iReach/ -- Valence Technology has signed a global supply agreement with Exide Technologies (OTCQB: XIDEQ). The deal will see Exide procure lithium-ion modules and battery management systems from the Texas-based company.

GNB Industrial Power, a division of Exide, will use Valence's technology in a wide range of products, including those for forklifts, cleaning machines, boats and automated guided vehicles. GNB will also use Valence's technology in its range of network power applications.

Exide will combine Valence's products with its own in-house technology, which includes system components, thermal management, enclosures and chargers. Valence will benefit from Exide's vast distribution network, with sales and support available in more than 80 countries.

"Valence helped pioneer the market for large-capacity lithium modules, and its products are used in some of the most demanding applications," said Georg Meckl, Vice President of Advanced Applications EMEA at Exide Technologies. "The company has been manufacturing large volumes of lithium for over eight years, and has an outstanding reputation for quality and reliability."

"Exide is one of the world's leading battery businesses, with unparalleled knowledge and expertise," said Bill Ott, Senior Vice President of sales and marketing at Valence. "The new agreement, combining the best of Exide and Valence, will give customers a complete battery solution."

Exide will use Valence's patented Lithium Iron Magnesium Phosphate (LiFeMgPO4) modules, part of its U-Charge series. These offer impressive cycle life, safety features and energy efficiency, and are based around a modular design, making installation simpler.