"Valence Applies for Federal Grant to Construct Advanced Battery Production Facility" Green Car Advisor

Valence Technology, an Austin-based manufacturer and supplier of lithium iron magnesium phosphate batteries, has submitted a grant application to the Department of Energy seeking $225 million under the Electric Drive Vehicle Battery and Component Manufacturing Initiative. Valence's application came one day after Boston-Power Inc., a Massachusetts-based laptop batteries manufacturer, announced it had developed a new lightweight, high-performance lithium-ion battery for plug-in hybrids and electric cars and sought funds from the same money pool to help produce the batteries.