The Power of Lithium & Safety of Phosphate Commercial Evolution Commercial Evolution Robert L....
-
Upload
alyssa-mcmanus -
Category
Documents
-
view
218 -
download
3
Transcript of The Power of Lithium & Safety of Phosphate Commercial Evolution Commercial Evolution Robert L....
““The Power of Lithium & Safety of Phosphate”The Power of Lithium & Safety of Phosphate”
Commercial EvolutionCommercial EvolutionRobert L. Kanode President & CEO
June 7, 2011
2““The Power of Lithium & Safety of Phosphate”The Power of Lithium & Safety of Phosphate”
This presentation contains forward-looking statements within the meaning of
the Private Securities Litigation Reform Act of 1995. Actual results can vary
substantially from these forward-looking statements as a result of a variety of
factors. These and other risk factors that could affect actual results are
discussed in our periodic reports filed with the Securities and Exchange
Commission, including our Annual Reports on Form 10-K and subsequent
Quarterly Reports on Form 10-Q and other documents filed with the Securities
Exchange Commission. The reader is directed to these statements for a further
discussion of important factors that could cause actual results to differ
materially from those in the forward-looking statements. We disclaim any
intent or obligation to update these forward-looking statements.
Safe Harbor StatementSafe Harbor Statement
3““The Power of Lithium & Safety of Phosphate”The Power of Lithium & Safety of Phosphate”
Our HistoryOur History
1989 Founded in San Jose, CA.
1992 Listed on Nasdaq “VLNC”
1995 Licensed Bellcore “Flat Cell” technology
1998 Manufacture of Bellcore cells, Lithium Cobalt, and Lithium Manganese
2002 Launched first commercial Lithium Phosphate (LP) Technology
2004 Launched Segway Custom Pack “Exclusive Supplier”
2005 Launched 12Volt U-Charge® Scalable Modules
2007 Launched 18Volt U-Charge® Scalable Modules
2010 Launched 36Volt U-Charge® Scalable Modules
2011 Planned Launch of Next Generation High Power Custom Systems
Transition to Commercial Sales
Extensive Patent Estate Enables Valence to Sell in Major World Markets
4““The Power of Lithium & Safety of Phosphate”The Power of Lithium & Safety of Phosphate”
Serving The WorldServing The World137.4 MWhrs Shipped-to-Date Worldwide137.4 MWhrs Shipped-to-Date Worldwide
Northern IrelandEU Sales & Application Engineering
Austin, TX – HQFinance, Sales & Marketing, Engineering
Suzhou, ChinaCathode Material, Cell & System Manufacturing
Las Vegas, NVMaterial Research & Legal
5““The Power of Lithium & Safety of Phosphate”The Power of Lithium & Safety of Phosphate”
Global Patent EstateGlobal Patent Estate
Total Granted Patents (all categories): 267US: 132Foreign: 135
Total Pending Patents (all categories): 167US: 42Foreign: 125
Products & Processes Where Patents are Utilized214 – Lithium Iron Magnesium Phosphate Chemistry237 – Lithium Vanadium Phosphate Chemistries 67 - Carbothermal Reduction Process (Cathode Manufacturing)
176 - Miscellaneous (Electronics, Software, Pack Engineering, Other Chemistries, Misc.)
6““The Power of Lithium & Safety of Phosphate”The Power of Lithium & Safety of Phosphate”
Compared to Lead Acid½ Weight2X Run TimeLonger LifeLower Lifetime CostReliable100% Less Self-DischargeExtended Shelf LifePredictable EOL PerformanceNo Maintenance
Compared to Lithium OxidesSafeLonger LifeLower Lifetime CostReliable
Technology AdvantagesTechnology AdvantagesValence Lithium Iron Magnesium PhosphateValence Lithium Iron Magnesium Phosphate
Li(Fe,Mg)PO4
7““The Power of Lithium & Safety of Phosphate”The Power of Lithium & Safety of Phosphate”
Li3V2(PO4)3
Higher Voltage, Power & EnergySafeLonger LifeLower Lifetime CostReliablePredictable EOL PerformanceNo Maintenance
Technology AdvantagesTechnology AdvantagesValence Lithium Vanadium PhosphateValence Lithium Vanadium Phosphate
8““The Power of Lithium & Safety of Phosphate”The Power of Lithium & Safety of Phosphate”
Characteristic LiCoO2 LiMn2O4 Li(Fe,Mg)PO4
Li3V2(PO4)3
Theoretical capacity
*140 mAh/g
*120 mAh/g
163 mAh/g 197 mAh/g
Voltage 3.7V 3.8V 3.2V 3.0 - 4.3V
Oxygen bonding Very weak Weak Strong Strong
Cycle life Average Poor Excellent Good
Application need
Key characteristics Materials need
LVP
Specific energy
High Ah/kgHigh voltage
Pulse powerHigh voltage
Low impedance
Safety Oxygen bondingTightly bound
oxygen
Cycle lifeMany Good cycle
life
Voltagekg
AhEnergy
* Complete extraction of lithium causes performance and safety issues for the oxides
Valence Patented Lithium Phosphate Valence Patented Lithium Phosphate FamilyFamily
vs. Lithium Oxidesvs. Lithium Oxides
R
VpowerPulse
2
9““The Power of Lithium & Safety of Phosphate”The Power of Lithium & Safety of Phosphate”
High Power PulsingHigh Power Pulsing
•OCV: Open Circuit Voltage•Application example: 10-second burst of power to accelerate from 0-60MPH
-60
-40
-20
0
20
40
60
-10 -5 0 5 10 15 20
seconds
Wat
ts
2.5
3.0
3.5
4.0
4.5
5.0
Vol
ts
WattsVolts
•P1a 18650 power cell (43mOhm DC)•10-second pulse•17A constant current•45W power output at 10 seconds
•VOCV = 3.3V; Vmin = 2.6V
VOCV
Vmin
10““The Power of Lithium & Safety of Phosphate”The Power of Lithium & Safety of Phosphate”
0
20
40
60
80
100
120
140
0 20 40 60 80
Current A
Pow
er W
LVPP1a
Maximum Pulse PowerMaximum Pulse Power18650 Power Cell Example
R
VVVcapabilitypowerPulse ocv )( minmin
• Power optimized 18650• 23°C• Weight ~40g• 35-45 mOhm DC• Vmin 1.6V cutoff• <10 second pulse
length
High OCV and low resistance deliver higher pulse power for LVP
11““The Power of Lithium & Safety of Phosphate”The Power of Lithium & Safety of Phosphate”
LVP StructureLVP StructureNASICON for High Power
•NASICON-related structure
NASICON = NA (sodium) SuperIonic CONductor
MO6 octahedra,
Corner sharing with PO4 tetrahedra
Li ions in 3-D network of cavities
•Monoclinic crystal system
•Space group P21/n
•Minimal, reversible structural changes during removal and insertion of lithium•100% of lithium may be removed safely, in contrast to the layered materials
12““The Power of Lithium & Safety of Phosphate”The Power of Lithium & Safety of Phosphate”
Proven Safety & Long LifeProven Safety & Long LifeUp to 13 Times Less Expensive Than Lead Up to 13 Times Less Expensive Than Lead
AcidAcidBattery Life (cycles) at Specified Energy Consumption (%)
3204006001,1252,600
4,323
9,746
29,657
0
5,000
10,000
15,000
20,000
25,000
30,000
35,000
100%80%50%
20%
Energy Consumed Per Discharge
Lif
etim
e C
ycle
s
Valence Patented Lithium Phosphatevs.
Enersys Genesis Pure Lead Acid
13““The Power of Lithium & Safety of Phosphate”The Power of Lithium & Safety of Phosphate”
Proven Safety, Performance, Proven Safety, Performance, Reliability & Lowest CostReliability & Lowest Cost
14““The Power of Lithium & Safety of Phosphate”The Power of Lithium & Safety of Phosphate”
Fleet Value EquationFleet Value EquationLLifetime Savings $550K/Truck
Cumulative EV vs. Diesel Fleet Truck Cost
15““The Power of Lithium & Safety of Phosphate”The Power of Lithium & Safety of Phosphate”
Electric Fleet BenefitsElectric Fleet Benefits
57% Estimated Cost Savings Over 25 Years
Decreased Exposure to Fluctuation in Diesel Prices
Increased Fleet Reliability
Lower Labor and Maintenance Costs to Support
Fleet
Zero Tailpipe Emissions
16““The Power of Lithium & Safety of Phosphate”The Power of Lithium & Safety of Phosphate”
Commercial Products Powered Commercial Products Powered by by U-ChargeU-Charge®®
From Personal Transporterto
Mass Transit
Valence Leads The Way!
Tested & Approved by
17““The Power of Lithium & Safety of Phosphate”The Power of Lithium & Safety of Phosphate”
Powered by Valence
Exclusively Powered by Valence
Next Generation EV’s Next Generation EV’s Powered by Valence Custom SystemsPowered by Valence Custom Systems
Top Speed 65 MPH / Maximum Range 125 Miles
18““The Power of Lithium & Safety of Phosphate”The Power of Lithium & Safety of Phosphate”
Motive > Marine > Stationary > Medical > Industrial
Stationary IndustrialMedical
Valence is Following Lithium Opportunities Into a Variety of
Markets
Fleets 1st to Market
Valence Technology Valence Technology Moving to Other MarketsMoving to Other Markets
““The Power of Lithium & Safety of Phosphate”The Power of Lithium & Safety of Phosphate”
““A Common Sense, Scalable A Common Sense, Scalable Manufacturing Approach to Serve Manufacturing Approach to Serve Global Alternative Energy Markets Global Alternative Energy Markets
as they Mature and Standards as they Mature and Standards Develop”Develop”
Robert L KanodeRobert L KanodePresident & CEOPresident & CEO
20““The Power of Lithium & Safety of Phosphate”The Power of Lithium & Safety of Phosphate”
REFERENCE
21““The Power of Lithium & Safety of Phosphate”The Power of Lithium & Safety of Phosphate”
Fleet Value AssumptionsFleet Value Assumptions
Diesel Delivery Truck Assumptions
“Conventional Fleet Truck”
• Initial Cost $70,000
• Fuel Economy 7 MPG • Diesel Cost $4 / Gallon
• Diesel Cost Increase 5% / year
• Maintenance Cost $5,000/ Truck
Electric Delivery Truck Assumptions“Valence Powered”
• Initial Cost $50,000 (Without Engine and Drive Train)• Electric Drive Train Components $32,000• Valence extended range battery pack for fleet service $58,000• Electricity Cost Increase 3% / year• Battery Pack Replaced Every 10 Years• Replacement Batteries Packs are Estimated to be 33% of Today’s Cost in 10 Years.• Maintenance Cost $1,500 / year• Tax Penalty Due to Higher Initial Price (California Sales tax of 8.25% on the difference)
22““The Power of Lithium & Safety of Phosphate”The Power of Lithium & Safety of Phosphate”
Valence Lithium Iron Magnesium Phosphate Valence Lithium Iron Magnesium Phosphate (P1a)(P1a)
&.&.Lithium Vanadium Phosphate Rate Lithium Vanadium Phosphate Rate
Capabilities (LVP)Capabilities (LVP)
LVP capacity and voltage are higher than P1a at all rates and temperaturesLVP capacity is less sensitive to rate and temperature than P1a
1.5
2.0
2.5
3.0
3.5
4.0
4.5
0 50 100 150% relative capacity
Vo
ltag
e
LVPP1a
0.5C rate
10C rate0.5C rate
10C rate
23°C
0
20
40
60
80
100
120
-20 -10 0 10 20 30 40 50 60
Temperature °C
% c
apac
ity r
eta
ined
at 1
C r
ate
.
LVPP1a
1-C rate
23““The Power of Lithium & Safety of Phosphate”The Power of Lithium & Safety of Phosphate”
Technology & ProductsTechnology & Products
Patented Technology
Vast IP estate with new patents added every year
Significant and recent patent infringement victory vs. Phostech Lithium (Canada)
Cathode Materials (LFMP, LVP, LVPF)
Manufactured with patented carbo-thermal reduction process
Cells
Full line of cylindrical and prismatic cells
U-Charge® Modular Storage Systems
Scalable up to 1,000 volts
Featuring Valence interactive “Command & Control System”
Custom Storage Systems
With Valence materials, cells and command & control logic
Application Engineering Support
Integration of energy storage systems into customers applications
Program “Command & Control Logic” to specific custom needs
U-Charge® U-Charge® Scalable SystemsScalable Systems