US energy storage company Valence Technology, Inc. (NASDAQ: VLNC) has signed a memorandum of understanding with Siemens Drive Technologies Division to develop batteries compatible with Siemens’ hybrid drive motors for marine use. The agreement specifically involves development of energy storage systems compatible with Siemens’ ELFA Hybrid drive marine propulsion system.
ELFA is a traction motor which uses the diesel engine to drive a generator, which then charges an electric motor during braking. It has been used in buses earlier.
Siemens had earlier adopted Valence Technology’s batteries for its hybrid drive range systems, which were used in buses.
Valence Technology, Inc. develops lithium iron phosphate energy storage solutions and marketed the industry’s first rechargeable lithium iron magnesium phosphate battery. It is based in Austin, Texas, with facilities in Nevada, China, and Northern Ireland.
With the agreement, Siemens moves from the bus market into the pleasure and workboat market with its hybrid drive range. Siemens is the world’s leading supplier of large drives.
In May, Valence said it has submitted a $225 million grant application to the US Energy department for building a new advanced battery facility in Leander, Texas.
Earlier, the company also submitted an application for a $608 million loan under the department’s Advanced Technology Vehicles Manufacturing Incentive Program.
- Eric Dorente
ecoseed.org
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