Oakridge Global Energy Solutions (OTC: OGES) has set its
sights on the $10 billion unmanned aerial vehicle (UAV) market with its lithium
ion batteries, and for good reason. According to a recent report, UAVs or
drones will continue to be ‘the most dynamic growth sector of the world
aerospace industry’ in the coming decade. Another study estimates the global
market for UAVs will grow at an annual compounded rate of 8.12% over the next
five years to reach $15 billion in 2020. A lot of this action will be in the
U.S. which, at present, accounts for about 65% of the global drone market, and
it’s heating up. For example, Facebook (NASDAQ: FB) has developed a drone,
called Aquila, which it will use to provide internet access to remote
locations.
Oakridge is now poised to deliver cells and battery packs
for drones in the recreational remote control market, the film industry,
agriculture, law enforcement and the military. The company has branded this
battery line the Patriot Series. But it’s not just the skies that have caught
Oakridge’s attention. The company has also developed pressure tolerant cells
for Unmanned Underwater Vehicles (UUV). These robots are flooded machines in
which the battery itself is exposed to deep sea pressures of up to 10,000
pounds per square inch (sea level air pressure is 14.7 psi).
Oakridge’s cells have passed this rigorous abuse testing by
the U.S. Navy’s testing laboratory, Caderock, and have been qualified for
deployment on the UUVs. Oakridge has its feet firmly on the ground, too. In January
2015, it launched a new range of large format prismatic batteries for the
worldwide golf car and local area electric vehicle market. This battery line
has been branded the Pro Series. The launch took place at the annual PGA golf
show in Orlando, Florida, believed to be the largest golf show in the world.
(Prismatic battery cells are rectangular and, while not as efficient as the
familiar cylindrical cells, utilise space much more efficiently because of
their shape)
Florida is betting on Oakridge. The company has received a
$33 million incentive package from the state of Florida, the local county
(Brevard County) and the city of Palm Bay. Recently Governor Rick Scott was on
hand to open Oakridge’s new corporate headquarters in Palm Bay. The company’s
50,492 square feet manufacturing facility is at Sarno Road in Melbourne, FL. It
has the ability to manufacture six megawatt hours of products annually.
CEO Steve Barber expects Oakridge to be producing its first
significant revenues during the first quarter of 2016, and to be cash flow
positive by the end of that quarter. After a tour of the company’s
manufacturing facilities, Governor Scott told reporters “Oakridge Global Energy
Solutions could have moved their headquarters anywhere in the world, and I am
proud to announce that they chose to remain in Florida and create 1,000 new
jobs.” With such an exciting future, Oakridge Global Energy Solutions is
certainly no drone.
For more information, visit www.oakg.net
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Sign up for “The Mission Report” at www.MissionIR.com
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