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Valence Technology Gains $7.2M Order

Austin-based Valence Technology, the developer of Lithium Iron Magnesium Phosphate batteries, said today that it has received a $7.2M, purchase order from Electric Vehicles International (EVI). Valence said the order goes towards the purchase of its batteries for use in 100, UPS delivery vehicles. Valence did not provide a timetable for deliver of the order.