Global demand for lithium-ion batteries in on the rise, and
the North American market is leading the charge. The United States currently
ranks first in the world in terms of overall number of lithium-ion
battery-based grid storage projects, and growing demand for North American
alternatives to Chinese-made lead-acid batteries is creating an immediate
market for domestically-produced stored energy solutions. It is in this area
that Oakridge Global Energy Solutions, Inc. (OTCQB: OGES) is promoting rapid
and sustainable growth.
“This company is specifically orientated and has been
consciously focused to be the poster child of the onshoring movement,” Steve
Barber, chief executive officer of Oakridge, stated in a news release.
As the only ‘Made in the USA’ lithium-ion battery system
producer, Oakridge is quickly capitalizing on this ongoing market shift by
targeting the golf cart, remote control and unmanned aerial vehicle and home
energy storage markets. The company’s focus on these highly profitable niche markets
has already helped it confirm order backlogs worth $19.3 million in the U.S.,
as well as $110 million in domestic and international orders that are currently
awaiting firm delivery schedules. With continued development, the commercial
potential of the company’s proven technology and proprietary chemistry is
effectively limitless.
While Tesla (NASDAQ: TSLA) is capturing its fair share of
attention for its battery-powered products, both the Harvard Business Review
and The Washington Post have said that golf carts have considerable potential
for disrupting the auto industry. Both publications noted how disruptive
technologies often begin as inexpensive offerings that, initially, fly under
the radar. By competing in an emerging sector, Oakridge is able to dodge
expensive and time-consuming government regulation while refining its
technology in order to better challenge industry leaders. Eventually, this
advantage could translate into broadened consumer appeal and a larger market
share.
Despite the immense benefits that Oakridge’s lithium-ion
batteries offer over traditional lead-acid batteries – including lighter
weight, smaller form factor, longer power cycles and shorter recharging times –
they are both sold at the same price point. In the case of the company’s Pro
Series products, which are specially designed for use in golf carts and other
professional service electric vehicles, using Oakridge’s lithium-ion batteries
allows consumers to eliminate as much as half the weight of the vehicle without
adding any additional expense.
“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,” continued Barber. “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.”
Moving forward, Oakridge will look to build on its recent
progress by continuing to proactively develop its global brand and cutting-edge
technology while identifying strategic market opportunities and partnering with
key industry participants. Under the guidance of its proven management team,
the company is strategically positioned to capitalize on the rising demand for
groundbreaking energy storage solutions for the foreseeable future.
For more information, visit www.oakg.net
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