It seems that Oakridge Global Energy Solutions (OTCQB: OGES)
is driven by the same energy that powers its innovative line of rechargeable
lithium ion batteries. Over the past year, the company has moved at a frenetic
pace and currently fulfills nearly all of the listing requirements to be admitted
under Standard 3 to the New York Stock Exchange’s NYSE MKT marketplace, with
the exception of a share price of $2.00. However, that may not be long in
coming. Although the stock traded at $0.65 on Wednesday April 20, 2016, it has
hit a high of $2.40 over the past year.
The company began its sprint to the NYSE MKT listing in
January 2015 when its large format Pro Series lithium ion phosphate (LiFePO4)
battery system was launched at the Professional Golfers’ Association (PGA) show
in Orlando, Florida. When it returned to the PGA show the following year in
January 2016, it received orders of more than $250,000 and follow on
commitments of some $20,575,000.
Then on October 1, 2015, the production launch of the Pro
Series was announced. Initially aimed at the golf car market, the Pro Series is
designed for task-oriented vehicles such as maintenance vehicles, forklifts,
off road vehicles, and other applications that require professional and
industrial levels of power. The Pro Series comes with a special user interface
and battery management system called the Range Commander that allows the user
to monitor the performance of their battery system through their smartphone,
tablet, or computer.
In September 2015, Oakridge announced it had reached
agreements with CBX Electronics (Orlando, Florida) and BESTCREWS (Tokyo, Japan)
to become major participants in the Oakridge sales and marketing team. CBX
Electronics and its staff of eight will join the Oakridge in-house sales and
marketing team. The BESTCREWS team brings a staff of more than 50 inside and
outside sales professionals to the Oakridge sales and marketing organization.
BESTCREWS is one of the leading sales and marketing organizations in Japan. CBX
Electronics brings more than 30 years’ experience in the Southeast U.S. and the
Caribbean.
A few days later, Oakridge announced the production launch
of its Patriot Series. The Patriot Series is a line of battery systems meant
for radio controlled vehicles such as drones, multi-copters, aerial vehicles,
water-based vehicles and land-based vehicles that require long lasting levels
of power.
In February 2016, the company announced that Maritime
Tactical Systems, Inc. (MARTAC) had conducted successful field trials of
systems using Oakridge batteries. MARTAC is a Melbourne, Florida, based company
that designs and produces the Man-Portable Tactical Autonomous Systems
(MANTAS), which are designed to be used in numerous applications such as naval
fleet protection, mine warfare, port and harbor security patrol, anti-piracy,
search and rescue, and many others. The Oakridge batteries employed in the test
were custom-made to MARTAC specifications.
Later in February 2016, Oakridge announced that it would be
supplying batteries to Freedom Trucking in Minnesota. Freedom Trucking has
developed a fully electric interstate truck propulsion system that will enable
interstate trucks with a gross vehicle weight of 80,000 pounds to travel more
than 400 miles. By utilizing a proprietary logistical system, powered by
specially designed Oakridge battery systems, Freedom Trucking can now begin to
utilize its revolutionary fully electric interstate trucks to move product from
Chicago to Minneapolis. Using fully electric trucks to move this cargo will
save each truck in excess of $0.60 per mile over traditional diesel fuel,
according to analysis for Freedom Trucking by the U.S. Department of
Transportation.
In March 2016, Oakridge announced the commercial
introduction of its groundbreaking Liberty Series lithium ion motorcycle
batteries at the 75th anniversary of the iconic Daytona Beach Bikefest, which
ran from March 4 through the 14th. Later in March, the company announced a
strategic business alliance agreement with Sojitz Machinery Corporation
(Sojitz) of Tokyo, Japan, to provide equipment, materials, and financing to
support the planned growth of Oakridge in the lithium ion battery market.
Sojitz Group is a general trading company with a worldwide network comprising
approximately 400 group companies and operations in 50 countries, including the
U.S. The group has over 15,000 employees worldwide. Its annual revenues exceed
$35 billion. With such spirit and vigor, Oakridge may soon be ringing the
opening bell.
For more information, visit www.oakridgeglobalenergy.com
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