AUSTIN, Texas--(BUSINESS WIRE)--Valence Technology (NASDAQ: VLNC), a leading U.S.-based manufacturer of advanced energy storage solutions, announced that President and CEO Robert L. Kanode attended a private event at Smith Electric Vehicles U.S. Corporation headquarters in Kansas City, Mo. earlier this month that featured an appearance by President Barack Obama. Valence Technology supplies traction batteries for a broad range of Smith commercial electric vehicles.

President Obama toured the Smith Electric facility and spoke to employees about the importance of developing alternative energy technology. The U.S. Department of Energy recently selected Smith Electric Vehicles to receive $32 million in grant funding toward the production of all-electric, zero emissions commercial trucks.

“President Obama’s appearance demonstrates the administration’s commitment to accelerating adoption of alternative, clean energy sources. We are proud to partner with Smith Electric in leading the development of electric commercial vehicle fleets,” said Kanode, who was personally invited to attend this special event by Smith Electric CEO Bryan Hansel.

“Smith Electric was very proud to host the President at our Kansas City manufacturing facility. President Obama’s commitment to the electric vehicle industry began very early in his term and we are particularly grateful for his vital support of the entire sector. In addition, we invited Valence Technology to take part in this event as they are an important partner to Smith and their lithium phosphate energy storage systems continue to be a key component in our Newton all-electric truck,” stated Hansel.

Valence Technology is the primary traction battery supplier for the Smith Edison and Smith Newton, which are Europe's most popular electric commercial vehicles, as well as the battery supplier for Smith commercial vehicles operating in the U.S. and Canada. Designed for urban operations, where lower mileage requirements are commonplace, Smith Electric Vehicles are in use with a wide number of fleets, ranging from municipal authorities to major retailers, utilities, courier companies and mail delivery organizations.

Valence electric batteries have become the standard for alternative energy commercial fleets operating in North America and Europe, where the demand for fully electric commercial trucks continues to accelerate. In addition to energy efficiency, Valence batteries provide a quiet, pollution-free experience and a significant quality of life improvement for drivers, passengers and pedestrians over diesel trucks and buses.

About Valence Technology, Inc.

Valence Technology is the 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. Founded in 1989, Valence today offers a proven technology and manufacturing infrastructure that delivers ISO-certified products and processes that are protected by an extensive global patent portfolio. Valence Technology is strategically aligned by five business segments: Motive, Marine, Stationary, Industrial and Military. 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, visit www.valence.com.

Safe Harbor Statement

This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Actual results may vary substantially from these forward-looking statements as a result of a variety of factors. The risk factors that could affect actual results are discussed in our periodic reports filed with the Securities and Exchange Commission, including our Reports on Form 10-K for the year ended March 31 and the reader is directed to these statements for a further discussion of important factors that could cause actual results to differ materially from those in the forward-looking statements.