Valence Signs Technology MOU with McKenzie Bay

September 11, 2003 by Jeff Shepard

Valence Technology Inc. (Austin, TX), a leader in the development and commercialization of Saphion™ technology and lithium-ion polymer rechargeable batteries, announced the signing of a memorandum of understanding (MOU) with McKenzie Bay International Ltd. (Brighton, MI) for the evaluation of Valence's Saphion™ lithium-ion technology.

McKenzie Bay will be evaluating the Saphion technology for use in WindStor, a complete "green energy" electricity management system that combines self-generated renewable energy from a DERMOND Wind Turbine and electricity storage from a vanadium-based battery through a proprietary DERMOND System Integrator. WindStor is designed to provide onsite-generated power for urban users, businesses and commercial property owners, and off-grid users in remote areas of the world.

"Valence's high-performance, lithium-ion Saphion technology provides necessary performance characteristics at a low cost combining enhanced safety, environmental friendliness and an excellent life cycle with design flexibility necessary for the wide variety of applications intended for WindStor," said Gary Westerholm, chairman and president of McKenzie Bay. "Not only is Saphion an excellent complement to WindStor but working with the Valence team on the combination of technologies has been swift and efficient."

"There is a clear market need for high-performance, low-cost, environmentally friendly, uninterruptible power supplies," said David St. Angelo, vice president, Large-Format Energy Solutions for Valence. "Our experience with McKenzie Bay has been very positive, and we look forward to continuing to work together."