Hybrid-Electric Boats Get Charge from Power Storage Deal

Austin-based energy storage company Valence Technology Inc. has signed a $45 million multi-year rechargeable battery supply agreement with France’s BJ Technologie, a subsidiary of the world’s largest sailing yacht builder, Bénéteau Group.

Valence Technology will be the only battery supplier for all new Bénéteau Group hybrid-electric vessels using a new ZF Marine hybrid drive system. The battery storage systems will be installed in new hybrid-electric yachts, sailboats, and motorboats for Bénéteau Group partners.

The battery shipments are scheduled to begin at the end of 2010 and will generate an estimated $9 million in revenue to Valence Technology over the following year.