Valence, Graham-Field Sign Agreement

Valence Technology Inc. of Austin, Texas, has signed an agreement granting GF Health Products Inc. of Atlanta, Georgia, the exclusive right to resell Valence’s U-Charge™ power system, a Saphion technology-based motive power system, in the power wheelchair and medical scooter markets.

The companies will jointly develop a U-Charge power system specific to the power wheelchair and medical scooter markets. Valence has granted Graham-Field the exclusive right to resell U-Charge systems in those markets in the United States and its territories for three years. This exclusivity is conditioned upon achieving specified quarterly volume targets totaling $20 million in system purchases. Graham-Field will provide sales and marketing, technical assistance, and customer support functions.

Valence’s Saphion technology is built on a phosphate cathode core, which is inherently safe and user friendly. By combining the power of lithium-ion with the safety of phosphates, it surpasses traditional lead-acid technology and provides an alternative to deep cycle battery solutions.