In a World Increasingly Disconnected from the Grid, Oakridge Global Energy Solutions’ (OGES) Lithium-ion Batteries Reset the Connection
A recent white paper (https://dtn.fm/Psz16) from Cisco (NASDAQ: CSCO) illustrates dramatically how smartphones and other mobile devices have replaced dogs as man’s (and woman’s) best friend. It estimates that about 563 million mobile devices and connections were added, globally, in 2015. Worldwide, there are now close to 8 billion devices and connections on the planet, a number that surpasses the world population (https://dtn.fm/YP6Iu) of 7.3 billion for the first time. Smartphones, of course, were the most widely employed mobile device. However, in 2015, 97 million wearable devices were in use. Mobile devices are, of necessity, wireless and so require dedicated power supplies that are long lasting, durable and light, characteristics possessed by lithium-ion batteries. That is why Oakridge Global Energy Solutions, Inc. (OTCQB: OGES), with its Lithium Ion Phosphate (LiFePO4) batteries, is in the flood of the tide to power these off-the-grid devices.
The company now holds some 120 patents, including those related to the thin-film lithium-ion technology developed by Dr. John B. Bates, Ph.D., while he was employed at the United States Department of Energy’s Oak Ridge National Laboratory. The company’s $40 million, 70,000-square-foot manufacturing facility in Palm Bay, Florida, which commenced operations earlier this year, has the largest capacity for lithium large and small format batteries in the country, according to CEO Steve Barber in an interview (https://dtn.fm/pA8jY) with New to the Street. That means it has the know-how to manufacture the small form factors required for smartphones and tablets.
Currently, Oakridge has four product lines. Its Pro Series is already being fitted in golf carts and was a huge success when it was first introduced at the Professional Golfers’ Association (PGA) show in Orlando, Florida, in January 2015. At this year’s PGA show, Oakridge received orders of more than $250,000 and follow on commitments of some $20,575,000, which mark an inflection point in the company’s trajectory. In line with its strategy, the company has transformed itself from a ‘science project’ research outfit to a viable commercial entity with cutting-edge scientific capabilities.
The Patriot Series batteries are meant for professional, unmanned aerial vehicles (UAVs) and other remote control (RC) vehicles. The line is cost-competitive with foreign lead-acid batteries and, like all Oakridge products, is 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, lightweight applications. Oakridge offers power storage units with its Freedom Series. These batteries can be used by households and businesses alike to reduce or eliminate reliance on the grid. They can also, obviously, be used as backup units, for example, in hospitals where uninterruptible power is of vital necessity. Oakridge’s Liberty Series are starter batteries and can be deployed in ‘everything that needs to start that has a battery’ such as motorcycles, cars, trucks, boats, jet skis, and snowmobiles.
Beneficial ownership of about 90 percent of Oakridge is in the hands of seven families: two in Australia, one in Japan, two in Switzerland and two in Germany. Consequently, shareholder and management interests are as aligned as they could ever be. CEO Steve Barber, who is the Chief Investment Officer of Oakridge’s major shareholder, the private equity family fund Precept Fund Management SPC, wears two hats. He is also Executive Chairman and CEO of Oakridge.
For more information, visit www.oakridgeglobalenergy.com
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