Oakridge Global Energy Solutions
Incorporated in 1986 and head-quartered in Melbourne, Florida, Oakridge Global Energy Solutions (OTCMKTS:OGES) is the only “Made in the USA” lithium-ion battery system producer. Oakridge’s primary lines of powerful, high-quality lithium batteries are targeted to the golf car, remote control and unmanned aerial vehicle markets and home energy storage markets.
Oakridge Global Energy Solutions uses existing proven technology coupled with its proprietary chemistry to produce safe, cost competitive lithium-ion products of the highest quality.
Currently focused on this highly profitable and niche market, Oakridge Global Energy Solutions has confirmed order backlogs worth $19.3 million in the USA, $50 million in the US and Australia, and $110 million from Japan.
Batteries made in USA using a proprietary lithium chemistry
Lithium batteries produced are comparable in price to traditional lead-acid batteries, but charge faster, last longer and are much lighter.
Rapidly expanding workforce, and has been approved for nearly $9 million in property tax breaks from Brevard County
Confirmed orders of $19.3 million backlogged in the US
Additional orders of $50 million in the US and Australia that are awaiting firm delivery schedule
Further $110 million of orders from Japan awaiting firm delivery schedule
Primary shareholder (90%) is Precept Fund Management SPC
Oakridge Global Energy Solutions owns 11,000,000 shares of Leclanché S.A., a Swiss developer and producer of energy storage systems
Filed for NASDAQ main board listing on July 31, 2015
Market Focus: Batteries
According to a report by Frost & Sullivan, demand for lithium-ion batteries is expected to continue to grow from 2013 to 2020. The North American market, representing nearly 35 percent of total revenue generated by Lithium-Ion battery manufactures in 2013, is expected to become the leading revenue generator in 2020 on rising demand for alternative energy sources in both the automotive and utility markets. Globally, the United States ranks first in the overall number of lithium-ion battery-based grid storage projects.
Both the Harvard Business Review and The Washington Post have said golf cars, not Tesla (NASDAQ:TSLA), will disrupt the auto industry. Both have cited how disruptive technologies begin as cheap offerings without a second notice while they improve upon technology to take the lead over major industry players. Innovation in this emerging sector is not stifled by expensive and time-consuming government regulation, meaning the technologies can improve at a much faster rate. And improving technologies translate to broadening consumer appeal and a larger market share.
Made in the USA
“This company is specifically orientated and has been consciously focused to be the poster child of the onshoring movement.” – Steve Barber, CEO of Oakridge Global Energy Solutions
The Oakridge Global Energy Solutions development facility in Florida houses a state of the art chemistry lab as well as the necessary testing equipment allowing for the development of battery cells and systems from raw materials through to performance validation. The Oakridge manufacturing plant is also equipped with top-of-the-line fabrication and manufacturing equipment for lithium-ion batteries.
Oakridge Global Energy Solutions lithium battery producer
Oakridge’s primary lines of powerful, high-quality batteries are targeted to the golf car, remote control and unmanned aerial vehicle markets. The company is also currently developing lithium-ion battery solutions for the home energy storage market.
CEO Steve Barber, said: “We’ve got such a great response from the customer base – which is why we’ve got $50 million in back orders, growing, growing, growing… and the fact that we get such great support from the county and the city.”
Growing demand for North American alternatives to Chinese-made lead-acid batteries has translated into an immediate, confirmed-order backlog of $19.3 million in the US, with an additional $50 million in orders awaiting a firm delivery schedule for US and Australian customers and a further $110 million from Japan awaiting firm delivery schedule.
Oakridge Global Energy Solutions is undergoing an expansion, which will take its current 50-plus employee operation to a 1,000-plus employee operation by the end of 2018. For its efforts, the company will receive nearly $9 million in property tax breaks from Brevard County, Florida over eight years.
Key Products: Lithium-ion Battery Systems
Oakridge Global Energy Solutions produces battery systems comprised of large and small format prismatic lithium cells, manufactured using its proprietary formulas and expertly engineered battery management systems. The prismatic shape of Oakridge’s lithium-ion cells makes them easily stackable, which translates to 25 percent to 30 percent more energy density than cylinder-shaped batteries. This strategic engineering allows for low-cost production and high-margin profits.
Oakridge Global Energy Solutions drone lithium battery
“We very surgically went on an 18-month program to figure out what was the highly profitable low-hanging fruit niche markets that has high barriers to entry. That’s why we do what we do with the products we have, which are golf cart batteries – lithium-ion high power golf cart batteries – but we have striven very carefully to make them for the same price as lead-acid batteries… so we’re the only Made in USA lithium battery manufacturer.” said Steve Barber, CEO.
Oakridge is targeting a highly profitable niche market segment for its lithium-ion battery products. Out of their research came two primary battery lines: the Pro Series for Golf Cars and the Patriot Series for the high-end hobby market.
The Pro Series line of lithium-ion battery products are specially designed for golf cars and other professional service electric vehicles including light delivery and light work trucks. The use of the Pro Series lithium-ion batteries in this capacity has several benefits:
Lighter weight and compact:
72 lb. 4-battery pack vs. 390 lb. 6-battery pack in traditional Chinese lead-acid batteries
Takes half the weight out of a golf cart
Long-lasting, high-performance, guaranteed for 5 years
One full cycle can last for 3 rounds of golf per day vs 1.5 rounds
Short recharging time of 3 to 4 hours
Same cost as traditional lead-acid batteries; represents a 35 percent profit margin
Oakridge Global Energy Solutions lithium golf cart battery
Sales for the Pro Series in the golf markets is headed by Jason Gligorov, who has 11 years of experience as a professional touring golf caddy. He has also worked in the tourism industry in Europe.
The Patriot Series of products are designed for professional, unmanned aerial vehicle (UAV) pilots and remote control (RC) vehicle and boat enthusiasts. The Patriot line of lithium-ion batteries are cost-competitive with Chinese lead-acid batteries and are made in the USA.
These small prismatic cells can also be used for other consumer products such as power tools, portable communications and other small, light-weight applications.
Sales for the Patriot Series is headed by Pete Alvarez, who has been a highly respected racer and blogger in the Radio Controlled Industry for more than ten years. Mr. Alvarez currently heads up two race teams and is recognized as one of the foremost experts in the R/C industry.
The Freedom Series of large lithium battery home energy storage systems is currently in the product pipeline and undergoing review for commercial production. Oakridge has developed this product line to help consumers reduce or eliminate their monthly electric bills by making off-grid, back-up power available at affordable prices.
Plans for the future
Oakridge Global Energy Solutions intends to continue to proactively develop its global brand and cutting-edge technology by identifying strategic market opportunities and by partnering with key industry participants.
In July 2015, Oakridge acquired 11,000,000 shares of Leclanché S.A. (SW:LECN). This represents a major shareholding interest in Leclanche S.A., a developer and producer of energy storage systems with large format lithium-ion cells. Oakridge management believes the acquisition of holdings in Leclanche will enhance the abilities of both companies to further expand their respective product offerings in the global marketplace.
Further to its focus on developing a global brand, Oakridge has a pending application for a NASDAQ capital markets listing.
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