Valence Technology, Inc. (VLNC) to Expand Manufacturing Capacity; Announces $70 Million Agreement
Valence Technology, Inc. (NASDAQ: VLNC) manufactures and markets a large line of lithium phosphate rechargeable batteries and holds a portfolio of issued and patent pending lithium phosphate battery products. Today the company announced it will expand its manufacturing capacity of $35 million per quarter to $50 million per quarter to support anticipated sales of its Lithium Phosphate energy storage systems. "Increasing our capacity to manufacture additional battery systems will assure we have the capability to fulfill the anticipated demand we believe to be building in our sales pipeline," Robert L. Kanode, CEO and president of Valence Technology, stated in the…