DGAP-News: Photo Release — Valence Technology Powers First Electric Bus at Heathrow Airport

Valence Technology, Inc.

19.09.2011 14:22
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AUSTIN, Texas, 2011-09-19 14:22 CEST (GLOBE NEWSWIRE) —
Valence Technology, Inc. (Nasdaq:VLNC), a leading U.S. based global
manufacturer of advanced energy storage solutions, today announced it is
supplying the lithium phosphate battery for Heathrow Airport–s first electric
bus.

A photo accompanying this release is available at
http://www.globenewswire.com/newsroom/prs/?pkgid=10574

The all-electric Optare Solo, which went into service on September 5th,
shuttles British Airways– staff between Terminal 5 at Heathrow and the British
Airways– headquarters at Waterside. Operated by Flights Hallmark, the Solo is
the first all-electric bus in operation at a UK airport.

–We are very excited about the introduction of the all electric Solo at
Heathrow. Flights Hallmark and British Airways are exceptional companies and
global leaders in sustainability initiatives. We are confident they will
quickly appreciate the many benefits of the Solo EV,– stated Optare CEO Jim
Sumner.

–Valence is proud to continue to be at the forefront of innovation in the
development of electric vehicles that are environmentally friendly and cost
efficient. Through our partnership with Optare and their work with forward
looking companies like British Airways and Flights Hallmark, we are gratified
to be part of high visibility projects such as the Solo that give further
credibility to our technology and demonstrate the growing momentum for the
electric fleet market,– stated Valence president and chief executive officer
Robert L. Kanode.

Covering a daily route of between 50 to 60 miles, the green-branded Solo is
expected to log nearly 18,000 miles per year, reducing CO2 emissions by an
estimated 20 tons compared to a diesel-powered bus.

The Optare Solo–s electric drive is powered by a 600-volt Valence U-Charge
lithium iron magnesium phosphate battery system. The system provides a total
capacity of 85 kWh and can be recharged through regenerative braking in transit
and plug-in power at its base at Heathrow.

About Valence Technology, Inc.

Valence Technology is a 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. Valence Technology today offers a
proven technology and manufacturing infrastructure that delivers ISO-certified
products and processes that are protected by an extensive global patent
portfolio. 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

The Valence Technology, Inc. logo is available at
http://www.globenewswire.com/newsroom/prs/?pkgid=10210

Safe Harbor Statement:

This press release contains forward-looking statements within the meaning of
the Private Securities Litigation Reform Act of 1995. Actual results, including
realization of any revenues from the sale of batteries to Optare, may vary
substantially from these forward-looking statements as a result of a variety of
factors. Other risk factors that could affect our actual results are discussed
in our periodic reports filed with the Securities and Exchange Commission,
including our Annual Report on Form 10-K for the year ended March 31, 2011, and
our Quarterly Reports on Form 10-Q, 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.

CONTACT: IR Contact:
Bob Gray
Valence Technology, Inc.
512.527.2921
investor@valence.com

PR Contact:
Jeff Fox
The Blueshirt Group
415.828.8298
jeff@blueshirtgroup.com
News Source: NASDAQ OMX

19.09.2011 Dissemination of a Corporate News, transmitted by DGAP –
a company of EquityStory AG.
The issuer is solely responsible for the content of this announcement.

DGAP–s Distribution Services include Regulatory Announcements,
Financial/Corporate News and Press Releases.
Media archive at www.dgap-medientreff.de and www.dgap.de

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Language: English
Company: Valence Technology, Inc.

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End of Announcement DGAP News-Service

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