Oakridge Global Energy Solutions, Inc. (OGES) is an integrated energy storage solutions company focused on the design, development and manufacture of high-quality cells, batteries and power systems. The company's innovative 'Made in the USA' product line includes multiple lithium-ion technologies and form factors that are optimized to address three high-demand target markets – including stationary and grid storage; motive applications, such as electric and hybrid electric fleet vehicles; and specialty applications, such as military, aerospace, marine, medical and telecom backup.
Through a recent restructuring of its operations, Oakridge strategically positioned itself to expand its market reach moving forward. The company currently owns and operates two manufacturing facilities in Melbourne, Florida, which play an instrumental role in its efforts to meet the growing demand for its cutting-edge large format Pro Series golf car batteries and its small format Patriot Series RC batteries. These operations also allow Oakridge to bring stable employment opportunities back to the U.S., effectively highlighting its tireless commitment to the revitalization of the country's manufacturing industry.
The company also maintains a presence on the international stage through its recently formed subsidiary, Oakridge Global Energy Solutions Limited, Hong Kong. This subsidiary, which is expected to serve as the foundation for Oakridge's sales efforts throughout the Asia-Pacific region, was created primarily to address the tremendous international demand for its revolutionary stored energy solutions. The company also maintains a substantial interest in Leclanche S.A., a Swiss developer and manufacturer of large-sized lithium-ion batteries that was originally founded in 1909.
Oakridge has indicated plans to expand its presence in a collection of markets throughout Europe and Asia as it continues to build upon its established product development and manufacturing infrastructure. The company will lean on the expertise of its proven management team – which includes well over a century of combined industry experience – as it looks to increase its share of the $12 billion domestic battery manufacturing industry.
Using existing proven technology coupled with proprietary chemistry to produce safe, cost competitive lithium-ion products of the highest quality
OGES 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 the company's lithium-ion cells makes them easily stackable, which translates to 25-30% more energy density than cylinder-shaped batteries. This strategic engineering allows for low-cost production and high-margin profits.
OGES 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:
The ProSeries is aimed squarely at a core global NEV market that was worth around $1.8 billion two years ago and has been growing by leaps and bounds. Research and Markets recently forecast a 6.6% CAGR through 2020 as consumers from across a wide variety of usage types continue to flock to golf carts and light electric vehicles like NEVs due to their tighter functional efficiency, cost metrics, and lower environmental impact. Initially slated for 40Ah, 60Ah, 100Ah and 160Ah configurations, the ProSeries is also destined to see 200Ah and 240Ah incarnations sometime next year, and the company has rigorously tested these systems for the equivalent of five and a half years of continuous daily cycling (over 2,000 charge/discharge cycles).
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 a decade. 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. Designed to allow homes, as well as a wide range of business types, the freedom to cost-effectively migrate away from sometimes unreliable backup generators powered by diesel or gasoline, OGES' Freedom IV system offers a safety net ranging from 6.5kWh hours to over 35kWh.
Manufactured right here in America, Freedom systems are slated to start shipping late this year (December), and much like Tesla's (NASDAQ: TSLA) Powerwall, are engineered in such a way that they can be easily daisy-chained to scale up storage capacity. The Freedom IV systems can also be easily interfaced with standalone alternative energy sources such as wind or solar, making the units especially appealing for off-grid applications, or remote sites.
Moreover, these clean, lithium-ion battery based backup systems can be programmed to charge during off-peak intervals when grid-supplied electricity is cheapest, offering customers a way to easily bypass the centralized, utility-centric pricing model for energy.
New cutting-edge manufacturing facility serves as core of operations and future growth
OGES is based in Florida's Space Coast, a region just north of the Treasure Coast around Kennedy Space Center and Cape Canaveral Air Force Station. This is the now densely packed region which historically was the home to NASA-launched manned spaceflights and has long been a key location for USAF unmanned military and civilian rocket launches, as well as (more recently) numerous aerospace companies and UAV technology developers.
Florida Governor Rick Scott in early October held a press conference at OGES' new corporate headquarters and manufacturing center to celebrate the company's expansion plans and their positive impact on the local community. Governor Scott, along with Space Coast Economic Development Commission CEO Lynda Weatherman, City of Palm Bay Mayor William Capote, and several local dignitaries and business entrepreneurs, visited the new facility to highlight the company's expansion and subsequent creation of 1,000 new jobs in the community.
The expansion is part of OGES' existing and ongoing $270 million investment in its Brevard County lithium ion battery development and sprawling new 68,718-square-foot facility – a necessary upgrade from the company's previous 12,500-square-foot building.
The growth demonstrates OGES' commitment to delivering new, innovative stored energy products/solutions and building-out an industrial-scale domestic manufacturing architecture that can service the full gamut of lithium-ion form factors and applications currently being targeted by the company.
The development facility 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. OGES' manufacturing plant is also equipped with top-of-the-line fabrication and manufacturing equipment for lithium-ion batteries.
This 68,718-square-foot corporate headquarters, located on Dixie Hwy in Palm Bay, Florida, provides OGES the space to increase its maximum production of small format lithium cells from 250,000 per year to 25 million cells per year while also providing the company with an opportunity to expand on this site.
Over the course of the next 18 months, OGES will ramp up and install more than 2.6 gigawatt-hours of production capacity of U.S. manufacturing of electrodes, cells, and batteries in its facilities. This equipment is being housed in more than 350,000 square feet of new manufacturing space.
Sarno Road Facility
The Sarno Road facility in Melbourne, Florida, will be the primary location for large format manufacturing.
Aggressively developing a widely recognized global brand and cutting-edge technology
OGES is currently undergoing an expansion, which will take its current 50+ 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.
OGES 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 million 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. OGES 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.
Made in the USA
Proudly Standing as the Only "Made In USA" Lithium Battery Manufacturer
OGES manufactures its cells and batteries in the USA. In response to growing demands from American consumers, the company is growing its manufacturing capacity each quarter.
"This company is specifically orientated and has been consciously focused to be the poster child of the onshoring movement." - Steve Barber, OGES CEO
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 U.S., with an additional $50 million in orders awaiting a firm delivery schedule for U.S. and Australian customers and a further $110 million from Japan awaiting firm delivery schedule.
North American Battery Market
OGES' 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.
According to a report by Frost & Sullivan, demand for lithium-ion batteries is increasingly on the uptick. The North American market, representing nearly 35% of total revenue generated by lithium-Ion battery manufactures in 2013, is expected to become the leading revenue generator in 2020, driven by 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.
OGES has indicated plans to expand its presence in a collection of markets throughout Europe and Asia as it continues to build upon its established product development and manufacturing infrastructure. The company will lean on the expertise of its proven management team – which includes well over a century of combined industry experience – as it looks to increase its share of the $12 billion domestic battery manufacturing industry.
Steve Barber - Chief Executive Officer
Steve Barber has more than 30 years of experience in the international business sector with dual qualifications in science and law, specializing in international corporate finance, mergers and acquisitions, asset acquisitions, corporate restructuring, offshore financing structures and the creation of new ventures, as well as government regulatory matters and counterterrorism risk management (especially terrorism financing restructures) in a range of international jurisdictions. He holds the degrees of B.App. Sc (University of Southern Queensland), LL.B. & LL.M. (University of Adelaide), and an M.A. (Diplomacy) from Norwich University (VT).
Barber has resided in Australia, USA and Canada, and his entrepreneurial approach and strength at building long term strategic alliances, coupled with his dual technical and corporate finance/law background equips him with the skill-sets necessary to bridge the gap between technical, operational, commercial and government regulatory aspects required to create a dynamically successful, strategically focused business.
Suzanna Barber - Vice President, Corporate Communications
Suzanna Barber is a member of the U.S. National Investor Relations Institute and over the years has worked as executive liaison officer and translator to the technical director and U.S. base manager at Tanagra Air Force Base in Greece, financial communications manager for Jackson's Stockbrokers, and as PR / communications manager for the partners of several major Australian law firms.
In 1998 Barber became the vice president of corporate communications for Antaeus Corporation in Boston, Massachusetts, where she was responsible for all public company investor relations functions with the U.S. and Australian financial, investment banking and analyst community. Barber also worked as manager, special projects and communications for the CEO of Bank of America in Australia, assisting with all PR matters and internal global communications.
Since 2009 Barber has served as the vice president of corporate communications for Precept Fund Management, where she has been responsible for all public and investor relations functions between the firm and its investor base, including arranging investor conferences and functions, preparation of all client newsletters, and investor updates, in addition to supporting the investor relations, public relations and government relations functions of the various investee companies in which the firm holds major investments, including OGES.
Lee Arrowood - President
Lee Arrowood has more than 30 years of experience in high-tech manufacturing, design and quality systems. He has served as design engineer and operations manager at Harris Corporation; vice president of operations at Metretek Contract Manufacturing; vice president of Quality at Velocitech; vice president of Operations at JEM Lighting Industries; general manager at Springfield Datacom; automation engineer at Kirby Risk; and was contributing technical editor for a national trade magazine, The Electrical Distributor.
Arrowood's experience has included designing and manufacturing products for the Trident II, Hellfire, Peacekeeper, SICBM, and Tomahawk missile systems. He has turned around multiple manufacturing operations to profitability through the use of Six Sigma, 8D and APQP methodologies. Arrowood is a Master Black Belt in Six Sigma and implemented quality systems for ISO 9001, ISO 13485, AS 9100C, FAA and FDA certifications. He has led organizations with over $350 million in annual revenues, and has also done three successful start-ups.
Arrowood has served on the board of directors for Datasec Corporation, Cyclotec Corporation, JEM Industries, Velocitech, and the local Little League organization. He has a Bachelor of Science in Electrical Engineering from West Virginia University at Montgomery, a Master of Science in Electrical Engineering from Florida Tech, and an MBA from Webster University.
Rodney Day - Director, Applications Engineering
Rodney Day has 35 years of manufacturing experience in assembly of electronics and mechanical design and assembly of consumer, commercial, military and medical systems.
He began at Universal Instruments in 1980 developing and installing automated equipment for the electronic manufacturing industry, and traveled throughout the U.S., Canada, Mexico and Europe, working with large companies such as IBM, Texas Instruments and Siemens.
Day was brought in by the world's largest electronic manufacturing services company, Flextronics, to lead its automated electronics assembly team. Under his leadership, Flextronics enjoyed an increase in production throughput by over 40% within the first three months.
Day worked at a U.S.-based Regional EMS. He led the team that did the start-up of a new manufacturing location, creating floor plans and installing automation equipment for electronics assembly. During this time, Day built electronics assemblies for large companies such as IBM and Dell. He developed and deployed the mechanical assembly lines for high volume production on numerous products including computers, telephones and credit card readers used in Home Depot, and other major retail stores.
Day has a very strong background in manufacturing and product engineering. He has designed assembly lines for manufacturing to support customer volumes as large as $220 million per year, including personally designing tools and fixtures needed to assemble the product. He has worked in many types of manufacturing environments and with multiple customers to ensure product design for manufacturability and quality.
Gerard Donovan - VP of Quality & Regulatory Affairs
Gerard Donovan brings to OGES more than 25 years of manufacturing experience in the high-tech aerospace, automotive and medical device electronics industry. Donovan has a BS&T in Electrical Engineering from the University of Central Florida. His career began as a quality supervisor with Harris Semiconductor; he was also a senior quality engineer with Becton Dickinson, the director of operations for Atmospheric Research, and the director of quality for Transcrypt International. Additionally, Donovan was the vice president of quality for Onyx EMS and the president of Quality Practitioners Inc. for 12 years. Donovan is a certified quality engineer, RABQSA certified lead auditor in ISO 9001 and ISO 14001 and a certified Six Sigma Black Belt.
|Oakridge Global Energy Solutions |
3520 Dixie Hwy
Palm Bay, FL 32905
|Mission Investor Relations |
3645 Marketplace Blvd. Suite 130
Atlanta, GA 30344
Phone: (404) 941-8975
Please see disclaimer on the MissionIR website: http://missionir.com/disclaimer.html