Valence Technology, Inc (VLNC) and The Tanfield Group Plc (TAN) Sign a Supply Agreement
Valence Technology, Inc (VLNC) announced that the company has entered into a contract with The Tanfield Group Plc (TAN). Under the terms of this agreement, Valence is to manufacture and supply safe Lithium Phosphate energy storage systems to power zero emission, all-electric commercial delivery vehicles. The Valence battery systems will be installed in leading-edge vans and trucks produced by Tanfield's UK-based trading division, Smith Electric Vehicles. Specifically, Tanfield will purchase up to $70 million of Valence products in the contract's first phase. This agreement will also result in Tanfield becoming the first volume customer for Valence's third generation Lithium Phosphate…