At the heart of Oakridge Global Energy Solutions, Inc.’s (OTCQB: OGES) operations lies a deep commitment to innovation. Since its establishment, the company has been innovating to achieve commercial success, and, over the course of three decades, it has come to lead the innovation, development, manufacturing and marketing of disruptive energy storage technology (primarily lithium-ion batteries) for civilian, medical and military uses.
Oakridge is an integrated energy storage solutions company that employs state-of-the-art technology in designing, developing and manufacturing high-quality cells, batteries, and energy storage systems. The company is a leading supplier and manufacturer of lithium-ion batteries, and a dedication to research and development has led it to create some of the world’s longest-lasting rechargeable power sources, including a battery system that holds its charge up to three times longer than its foreign-manufactured equivalents.
To become a leader around the globe, Oakridge has widened its scope. At the end of 2015, the company transitioned from being a primarily research and development-focused company to being a fully-developed battery manufacturing company. The company embraced the vision, capability and technology it needed to implement its expansion strategies. Then, it broadened its presence and relationships in the battery business significantly. Finally, it secured a much higher quality of equipment and raw materials to build its groundbreaking battery systems while still offering reliability and affordability to its customers.
In the first quarter of 2016, Oakridge began operating the only lithium-ion battery manufacturing facility in the United States, a move that gives it even more control over the quality of its energy storage systems. Backed by an investment of over $40 million into research and product development since 2013, the 70,000-square-foot, state-of-the-art manufacturing facility in Palm Bay, Florida, went into full commercial production immediately.
The company also began fulfilling commercial orders. Oakridge has been shipping its cutting-edge lithium-ion batteries to manufacturers of unmanned maritime vehicles, the golf cart and motorcycle markets and other custom and semi-custom markets. In a significant move and for the first time, the company has been operating a regular, indefinite commercial production schedule to fulfill its existing pipeline of orders, which is currently valued at approximately $24 million.
The U.S. market for lithium-ion batteries represents over 35% of worldwide demand, and, as the sole domestic manufacturer of these batteries, Oakridge is in an enviable position and exclusively capable of leveraging that position. The company’s projected revenues for the first quarter of the year (its first revenue-producing quarter ever) are thus strong and expected to exceed $250,000.
For more information, visit www.oakridgeglobalenergy.com
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