Valence Technology, a leading energy system manufacturer, signed a multiyear supply agreement with BJ Technologie, a subsidiary of Bénéteau Group.
Valence Technology will serve as the exclusive battery supplier for all new Bénéteau Group hybrid-electric vessels that incorporate the ZF Marine hybrid drive systems.
Valence Technology will provide modular, scalable energy storage systems that will be placed in new hybrid-electric yachts, sailboats and powerboats for Bénéteau and Bénéteau Group partners.
Initial battery shipments under this agreement are expected to start in the second half of 2010. Order estimates by Bénéteau Group forecast up to $9 million in revenue to Valence Technology in the following year.
"This is a revolution, not an evolution, in marine propulsion, energy generation, storage and management," said Robert L. Kanode, president and CEO of Valence Technology, in a statement. "Bénéteau is setting a new bluewater standard for cleaner sailing yachts. Ports and harbors around the world will be cleaner, quieter and safer thanks to Valence Technology's safe, dynamic energy systems and the forward thinking of companies like Bénéteau Group and ZF Marine, a pioneer in electric pod drives."