As per the agreed terms, Wrightbus will deploy Valence’s patented and proprietary lithium iron magnesium phosphate batteries to power its hybrid vehicles.
The delivery of the batteries will take place through 2015.
Commenting on the deal, Valence Technology president and chief executive officer Joe Fisher said that the deal showcases that the company has the technology of choice for leading edge hybrid and electric commercial fleets.
"Valence has been manufacturing safe, reliable energy storage solutions since 2005. Over the last eight years, we have powered more than 60,000 motive applications including electric trucks, buses, commercial delivery vehicles, scooters, motorcycles, and personal mobility vehicles.
"We continue to work with a diverse group of innovative customers like Wrightbus to develop leading edge applications and new solutions to serve their respective markets globally," added Fisher.
