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A whole lot of options buying by insiders today!!!
https://ceo.ca/api/sedi?insider=&symbol=EFL&date=&transaction=&amount=&undefined[company_symbol]=EFL
Brownie's Marine Group's BLU3 Inc. Has Announced Nomad & Spare Air Collaboration With YouTube Influencers BWMG
About Brownie's Marine Group Brownie's Marine Group, Inc., is the parent company to a family of innovative brands with a unique concentration in the industrial, and recreational diving industry. The Company, together with its subsidiaries, designs, tests, manufactures, and distributes recreational hookah diving, yacht-based scuba air compressors and nitrox generation systems, and scuba and water safety products in the United States and internationally. The Company has four subsidiaries: Trebor Industries, Inc., dba as "Brownie's Third Lung"; BLU3, Inc., manufacturer of the Nemo and Nomad; Brownie's High-Pressure Services, Inc., dba LW Americas and Submersible Systems Inc., manufacturer of Spare Air. The Company is headquartered in Pompano Beach, Florida with offices in Huntington Beach, CA. For more information, visit: www.BrowniesMarineGroup.com. About Spare Air Spare Air is a product manufactured by Submersible Systems, Inc. - a wholly owned subsidiary of Brownie's Marine Group, Inc., For 40 years, Submersible Systems, Inc has been manufacturing, assembling, and selling life-saving breathing systems worldwide from our factory in Huntington Beach (Orange County), California under the brand names Spare Air, HEED and EasyDive. Safe Harbor Statement This press release may contain forward looking statements which are based on current expectations, forecasts, and assumptions that involve risks and uncertainties that could cause actual outcomes and results to differ materially from those anticipated or expected. Actual results and the timing of certain events could differ materially from those projected in or contemplated by the forward-looking statements due to a number of factors. Stockholders and potential investors should not place undue reliance on these forward-looking statements. Although we believe that our plans, intentions and expectations reflected in or suggested by the forward-looking statements in this report are reasonable, we cannot assure stockholders and potential investors that these plans, intentions or expectations will be achieved. These forward-looking statements are not guarantees of future performance and are subject to risks, uncertainties, and other factors, some of which are beyond our control and difficult to predict and could cause actual results to differ materially from those expressed or forecasted in the forward-looking statements. Except to the extent required by law, we undertake no obligation to update or revise any forward-looking statements, whether as a result of new information, future events, a change in events, conditions, circumstances or assumptions underlying such statements, or otherwise. You are urged to carefully review and consider any cautionary statements and other disclosures, including the statements made under the heading "Risk Factors" in the Company's Annual Report on Form 10-K for the year ended December 31, 2020, as filed with the Securities and Exchange Commission (the "SEC") and our other periodic and quarterly filings with the SEC. Source: Brownie's Marine Group, Inc. Contact Information: (954)-462-5570 investors@browniesmarinegroup.com Brownie's Marine Group, Inc (END) Dow Jones Newswires September 16, 2021 09:15 ET (13:15 GMT)
Here are the YouTube video URLs:
www.youtube.com/watch?G6wvL96UtI8&t=145s
www.youtube.com/watch?v=t8XT0zU1RuA&t=12s
These events may have caught a few eyeballs, looks like we may be breaking out of this slump. Charts are reversing here, we are breaking out over the 50-day moving average.
https://electrovaya.com/news-media/#events-sec
GLTA!!!
Electrovaya to Present at Cowen's 14th Annual Global Transportation &
Sustainable Mobility Conference
Toronto, Ontario – September 9, 2021 – Electrovaya Inc. (TSX: EFL; OTCQB: EFLVF),
a lithium ion battery manufacturer with industry-leading safety, cycle-life and performance, with
substantial intellectual property, will be presenting at Cowen’s 14th Annual Global
Transportation & Sustainable Mobility Conference on Friday September 10th at 8:40am ET. The
conference is taking place September 8 – September 10, 2021 and will incorporates
presentations, fireside chats and innovative panel discussions hosted by members of the Cowen
research team that focus on various aspects of Airlines; Batteries; EV Charging; Mobility
Technology; Next-Generation Fuels; Rail, Trucking & Logistics; and Transportation OEMs and
Machinery.
About Cowen
Cowen Inc. ("Cowen" or the "Company") is a diversified financial services firm offering
investment banking services, equity and credit research, sales and trading, prime brokerage,
global clearing, commission management services and actively managed alternative investment
products. Cowen focuses on delivering value-added capabilities to our clients in order to help
them outperform. Founded in 1918, the Company is headquartered in New York and has offices
worldwide. Learn more at www.Cowen.com.
About Electrovaya Inc.
Electrovaya Inc. (TSX:EFL) (OTCQB:EFLVF) designs, develops and manufactures proprietary
Lithium Ion batteries, battery systems, and battery-related products for energy storage, clean
electric transportation and other specialized applications. Electrovaya is a technology focused
company with extensive IP. Headquartered in Ontario, Canada, Electrovaya has production
facilities in Canada with customers around the globe.
To learn more about how Electrovaya is powering mobility and energy storage, please explore
www.electrovaya.com.
For more information, please contact:
Investor Contact:
Jason Roy
Electrovaya Inc.
Telephone: 905-855-4618
Email: jroy@electrovaya.co
https://electrovaya.com/press/electrovaya-to-present-at-cowens-14th-annual-global-transportation-sustainable-mobility-conference/
Yes, this is great news from the company!
BWMG Brownie’s Marine Group Completes Acquisition of Submersible Systems, Inc
on September 9, 2021 News and Tags: Brownie's Marine Group Inc., Brownie's Marine Group Inc. News, BWMG, BWMG News with 0 comments
Pompano Beach, Florida, Sept. 09, 2021 (GLOBE NEWSWIRE) -- Brownie’s Marine Group, Inc. (OTCQB: BWMG), (“BWMG” or the “Company”), a leading developer, manufacturer and distributor of tankless dive equipment and high-pressure air and industrial compressors in the marine industry, today announced that it has completed the acquisition of Submersible Systems, Inc. (“Submersible Systems”), a manufacturer of lifesaving breathing systems based in Huntington Beach, California.
Submersible Systems produces Spare Air, a redundant air system that is currently being sold by BWMG with its multiple diver surface supplied air diving systems and currently anticipated to be sold in the near future with the recently launched BLU3 Nomad systems as good safety diving practice. BWMG estimates that most Nomad units will eventually be sold with a Spare Air system, BWMG believes may result in an increase in sales of Spare Air.
“We are excited to partner with the management team of Submersible Systems, which has a long history of providing life-saving equipment and is the perfect addition to our portfolio of companies. This is the first acquisition we have made since we began a strategic initiative to find companies that have unique technologies and manufacturing know-how in the industrial and recreational aquatic industries, and is the perfect size for a first transaction”, said Chris Constable, CEO of Brownie’s Marine Group, Inc. “Submersible Systems had revenue of approximately $1.8M in 2019 reduced by the effects of COVID on their customer base in 2020 to $1.4M. We believe that their balance sheet is strong, and they have excess capacity that will provide a warehousing or production advantage on the west coast.”
“Among the many things we liked about Submersible Systems was that they have been in business for approximately 40 years making quality products in the United States, just like we do here at Brownie’s,” said Robert Carmichael, Chairman of Brownie’s Marine Group, Inc. “They are also a U.S. government approved contractor, making life-saving devices that are relied upon by many militaries around the world, which will allow the combined entities to leverage combined technologies and expand the US government footprint of product offerings.”
Christeen Buban, CEO of Submersible Systems said, “the entire Submersible Systems team is excited about the merger with Brownies Marine Group. We look forward to creating synergy between our brands, and the opportunity to expand Spare Air’s reach to even more divers worldwide.”
BWMG’s acquisition of Submersible Systems is being done through a combination of equity and the assumption of debt. Newbridge Securities Corporation is acting as the exclusive M&A Advisor to Brownie’s Marine Group, Inc. and The Crone Law Group is acting as the Company’s legal counsel.
About Submersible Systems, Inc.
Submersible Systems has been manufacturing, assembling, and selling lifesaving breathing systems worldwide for forty years. One of only a handful of DOT/TC (DOT 3AL) approved manufactures of small aluminum cylinders in the USA, Submersible Systems produces several sizes of small high-pressure aluminum cylinders for many applications. Their brands include Spare Air, Spare Air Extreme, HEED and Easy Dive. The Company is headquartered in Huntington Beach, California. For more information, visit: www.submersiblesystems.com.
About Brownie’s Marine Group
Brownie’s Marine Group, Inc., owns and operates a portfolio of companies with a concentration in the industrial, and recreational diving industry. The Company, together with its subsidiaries, designs, tests, manufactures, and distributes recreational hookah diving, yacht-based scuba air compressors and nitrox generation systems, and scuba and water safety products in the United States and internationally. The Company has three subsidiaries: Brownie’s Third Lung; BLU3, Inc.; and LW Americas. The Company is headquartered in Pompano Beach, Florida. For more information, visit: www.BrowniesMarineGroup.com.
Safe Harbor Statement
This press release may contain forward looking statements which are based on current expectations, forecasts, and assumptions that involve risks and uncertainties that could cause actual outcomes and results to differ materially from those anticipated or expected. Actual results and the timing of certain events could differ materially from those projected in or contemplated by the forward-looking statements due to a number of factors. Stockholders and potential investors should not place undue reliance on these forward-looking statements. Although we believe that our plans, intentions and expectations reflected in or suggested by the forward-looking statements in this report are reasonable, we cannot assure stockholders and potential investors that these plans, intentions or expectations will be achieved. These forward-looking statements are not guarantees of future performance and are subject to risks, uncertainties, and other factors, some of which are beyond our control and difficult to predict and could cause actual results to differ materially from those expressed or forecasted in the forward-looking statements. Except to the extent required by law, we undertake no obligation to update or revise any forward-looking statements, whether as a result of new information, future events, a change in events, conditions, circumstances or assumptions underlying such statements, or otherwise. You are urged to carefully review and consider any cautionary statements and other disclosures, including the statements made under the heading “Risk Factors” in the Company’s Annual Report on Form 10-K for the year ended December 31, 2020, as filed with the Securities and Exchange Commission (the “SEC”) on March 31, 2021, and our other periodic and quarterly filings with the SEC.
Source: Brownie’s Marine Group, Inc.
Contact Information: (954)-462-5570
investors@browniesmarinegroup.com
Investor Relations: Hayden IR
Contact: Brett Maas (646) 536-7331
brett@haydenir.com
https://www.otcdynamics.com/bwmg-brownies-marine-group-completes-acquisition-of-submersible-systems-inc/?utm_campaign=twitter&utm_medium=twitter&utm_source=twitter
That is good to know, BTW we should be hearing something soon about this merger... https://ih.advfn.com/stock-market/USOTC/brownies-marine-qb-BWMG/stock-news/85740901/current-report-filing-8-k
Events for Electrovaya ... https://electrovaya.com/news-media/#events-sec
I believe you are right, that they are trying to raise a little capital for expansion. I was getting a little nervous when the stock started to drop after that news last week. I spoke with IR, Jason Roy yesterday he sounded very positive about the company. I guess we still need a little bit more patience.
Brownie’s Marine Group Joins Coastal Conservation Clean-up Hosted by Force Blue & Pepsi Stronger Together
Press Release | 08/30/2021
Pompano Beach, FL, Aug. 30, 2021 (GLOBE NEWSWIRE) -- Brownie’s Marine Group, Inc. (OTCQB: BWMG), a leading developer, manufacturer, and distributor of tankless dive equipment as well as high-pressure air and industrial compressors in the marine industry, attended a coastal conservation clean-up hosted by Force Blue & Pepsi Stronger Together in Lauderdale-by-the-sea on Monday, August 23.
“Teaming up with Force Blue to be able to support both ocean conservation and our veterans was a special day for our Brownie’s team. These are the missions that Brownie’s Marine Group should be involved in. It was great to participate in the event with athletes from the Professional Fighters League and Mack Hollins from the Miami Dolphins, who all safely dove with our 3-D buoys. We look forward to supporting their next event on the west coast of Florida in just a few weeks.” Said Chris Constable, CEO of Brownie’s Marine Group.
“Joining this event with Force Blue was inspiring for our team. The Force Blue crew is doing amazing work and we aim to follow their footsteps as we join the ocean conservation movement, promoting a bright future for our oceans,” says Blake Carmichael, CEO of BLU3, Inc.
Blake added “I expect our BLU3 products to introduce millions of new divers to the underwater world in the years to come, and along that journey we will have the opportunity to empower each of those divers to become citizen scientist and advocates of ocean conservation. People protect what they love, and loving the ocean is easy. BLU3 products are the steppingstone to getting new people underwater so they can love and protect the underwater world for generation to come.”
“We enjoyed connecting with Brownie’s Marine Group, a company that strives to make a positive difference in the maritime industry, during our Coastal Conservation Clean-up. They donated 23 3D buoys to our combat veterans for our reef dive in Lauderdale-by-the-sea. The promotion of safety and goal to eliminate pollution caused by dive flags, resonates with our mission to preserve and restore the ocean, reefs and ultimately the planet,” says Angelo Fiore, Director of Diving Operations and Training Director, Force Blue.
Angelo added “Having Brownie’s Marine Group present during our upcoming event in Anna Maria Island is going to be a huge bonus for our divers and the event itself. We are looking forward to teaming up with Brownie’s for future missions that align with keeping our oceans blue and our planet green.”
About Brownie’s Marine Group
Brownie’s Marine Group, Inc., is the parent company to a family of innovative brands with a unique concentration in the industrial, and recreational diving industry. The Company, together with its subsidiaries, designs, tests, manufactures, and distributes recreational hookah diving, yacht-based scuba air compressors and nitrox generation systems, and scuba and water safety products in the United States and internationally. The Company has three subsidiaries: Trebor Industries, Inc., founded in 1981, dba as “Brownie’s Third Lung”; BLU3, Inc.; and Brownie’s High-Pressure Services, Inc., dba LW Americas. The Company is headquartered in Pompano Beach, Florida.
For more information, visit: www.BrowniesMarineGroup.com.
About Force Blue
FORCE BLUE is the only non-profit organization in the world that retrains and redeploys former Special Operations veterans and military-trained combat divers to assist in marine and coral reef conservation efforts.
About Pepsi Stronger Together
Pepsi Stronger Together is a community-focused program that leverages the expertise of Pepsi and its partners to facilitate conversations, bring people together and create smiles in communities in need.
Safe Harbor Statement
This press release may contain forward looking statements which are based on current expectations, forecasts, and assumptions that involve risks and uncertainties that could cause actual outcomes and results to differ materially from those anticipated or expected. Actual results and the timing of certain events could differ materially from those projected in or contemplated by the forward-looking statements due to a number of factors. Stockholders and potential investors should not place undue reliance on these forward-looking statements. Although we believe that our plans, intentions and expectations reflected in or suggested by the forward-looking statements in this report are reasonable, we cannot assure stockholders and potential investors that these plans, intentions or expectations will be achieved. These forward-looking statements are not guarantees of future performance and are subject to risks, uncertainties, and other factors, some of which are beyond our control and difficult to predict and could cause actual results to differ materially from those expressed or forecasted in the forward-looking statements. Except to the extent required by law, we undertake no obligation to update or revise any forward-looking statements, whether as a result of new information, future events, a change in events, conditions, circumstances or assumptions underlying such statements, or otherwise. You are urged to carefully review and consider any cautionary statements and other disclosures, including the statements made under the heading “Risk Factors” in the Company’s Annual Report on Form 10-K for the year ended December 31, 2020, as filed with the Securities and Exchange Commission (the “SEC”) and our other periodic and quarterly filings with the SEC.
Source: Brownie’s Marine Group, Inc.
Contact Information: (954)-462-5570
investors@browniesmarinegroup.com
https://www.otcmarkets.com/stock/BWMG/news/Brownies-Marine-Group-Joins-Coastal-Conservation-Clean-up-Hosted-by-Force-Blue--Pepsi-Stronger-Together?id=318571
I am a bit confused about what was really changed one report is for May 7, 2021, and then there is the prospectus for June 9, 2021??? Very confusing to me.
REVISED MANAGEMENT’S DISCUSSION AND ANALYSIS
FOR THE QUARTER ENDED MARCH 31, 2021
MAY 7, 2021
REVISED AS OF AUGUST 24, 2021
This MD&A for the period ended March 31, 2021, originally filed May 7, 2021, is revised as of
August 24, 2021 to include additional discussion and analysis of operations for the period, add
certain quantifiable measures and additional discussion, including with respect to available
liquidity and capital resources, and clarify that the Company’s definition of EBITDA is
adjusted by measures not typically included in the standard definition of EBITDA
The Prospectus...filed on June 9, 2021
https://www.sedar.com/GetFile.do?lang=EN&docClass=9&issuerNo=00008204&issuerType=03&projectNo=03237009&docId=4985815
TORONTO, Aug. 27, 2021 (GLOBE NEWSWIRE) -- Electrovaya Inc. ("Electrovaya" or the "Company") (TSX:EFL, OTCQB:EFLVF) announces that it has filed revised management's discussion and analysis for the six month period ended March 31, 2021 (the "MD&A") following a review of the Company's preliminary short-form base shelf prospectus (including the documents incorporated by reference therein) filed on June 9, 2021 (the "Prospectus").
https://newsfilter.io/articles/re-filing-of-q2-mda-abf8c43253b3742515b768726a652d0c
Brownie’s Marine Group’s BLU3, Inc. Collaborates with Pure Florida
August 23, 2021 09:00 ET | Source: Brownie's Marine Group, Inc.
https://www.globenewswire.com/news-release/2021/08/23/2284879/0/en/Brownie-s-Marine-Group-s-BLU3-Inc-Collaborates-with-Pure-Florida.html
Short interest in this small company?
https://www.wkrb13.com/2021/08/22/electrovaya-inc-otcmktseflvf-short-interest-up-14-8-in-july.html
I put up that page you asked for in the IBox, however, it has been a long time since I used these types of tools and I don't remember how to properly edit this type of content.
I agree this looks like a very good move for the company, I would love for them to explain why they made this move and what are their plans with this new company. I know that they were selling their products already. Was this deal for their manufacturing capabilities, another outlet for them to expand on the west coast, or to increase production of their products. Maybe we get a conference call in the near future to help us understand. Anyway, this looks like a positive for us.
GLTA!
I hope I did the right thing, I added on the dip last Friday when it dropped down into the low .70's.
GLTA!
Could you elaborate on what news? Is there a link for it?
I will send it to DallyB on Friday, I no longer have a Premium account, will have to do it on Happy Hour
If you are talking about this statement you could be right on target. In the previous interview, the CEO made a statement that maybe he should start naming their clients, but he said prior to that, he does not want to give away his Rolodex of clients to the competition. We already know that they are working with Walmart and if they are adding Amazon, This could be the start of something very big!!!
Added on today's dip, I figure that we will find out within 30 days, earnings should be out if this was a good deal. GLTA
I was not impressed by the interview either, He was not really clear on the uplisting question? A lot of selling going on here, I guess we are not the only ones who are dissatified. Poor communication from management they are putting out the wrong signals with the insider selling.
CEO Sankar Gupta interview came out yesterday...
https://seekingalpha.com/article/4439100-electrovaya-ceo-dr-sankar-das-gupta-burning-fossil-fuel-for-low-margins-is-a-crime-video?mail_subject=eflvf-electrovaya-ceo-dr-sankar-das-gupta-burning-fossil-fuel-for-low-margins-is-a-crime-video&utm_campaign=rta-stock-article&utm_content=link-0&utm_medium=email&utm_source=seeking_alpha#comments
Thanks for the updates! Good to know what is going on!
Newly updated company presentation as of June 30 2021...
https://electrovaya.com/wp-content/uploads/2021/07/Electrovaya-June-30th2021.pdf
It was interesting, They will update the discussion soon on this site...
https://electricautonomy.ca/ev-battery-supply-chain/
Please join Electrovaya as Dr. Sankar DasGupta will be participating in a panel discussion - Building a Canadian vision for an EV battery value chain hosted by Electric Autonomy Canada on June 22, 2021 at 1:pm ET. #netzero #lithiumionbatteries #esginvesting
https://www.linkedin.com/posts/jasonproy_canada-has-huge-growth-potential-active-materials-activity-6811394969711075328-fxFD/
Stocks-that-have-massive-growth-outlooks/
https://www.fool.ca/2021/06/19/hooray-2-stocks-that-have-massive-growth-outlooks/
Spoke with Jason from investor relations about the Nasdaq filing it seems that they have filed with the MJDS in Canada to bypass the SEC until the listing is approved. I am guessing that we have a little bit more patience here, things are going a little slow but everything looks good for this hidden gem of a company.
https://media2.mofo.com/documents/faqsmultijurisdictionaldisclosuresystemmjds.pdf
Now you know why they have job openings for ten more assembly technicians, business looks like it is booming, I wonder how many palets they are shipping in a week! Very nice catch by your friend.
Electric Autonomy announces national panel discussion series on Canada’s EV battery supply chain
Starting June 1, Electric Autonomy Canada will host six, weekly panel discussions with leaders from the Canadian battery and automotive sectors to explore the need and road map for establishing Canada’s national electric vehicle battery supply chain
Canada is one of the few countries in the world with all the components in place to enable the development of a national battery supply chain. From coast-to-coast-to-coast Canada has the materials, talent and manufacturing capabilities to form a completely independent and vertically integrated value chain. But one challenge remains: harnessing these rich, regional attributes to turn that potential into reality.
We will be convening stakeholders from across the country to talk about their work and how it can integrate into a national framework, and the impact it will have on the country to be able to establish an initiative on this scale.
You are invited to join the conversation and register for one, or all, of the discussion panels which will explore these topics:
Episode 1: National Overview – June 1
Episode 2: Canadian R&D and Innovation in Batteries – June 9
Episode 3: Battery Metals Extraction and Processing – June 15
Episode 4: Active Materials and Cells – June 22
Episode 5: Pack and Vehicle Assembly – June 29
Episode 6: Battery Second Life – Reuse/Recycling – July 6
Attendance at these events is free and registration is available here:
Register
https://electricautonomy.ca/2021/05/18/canada-ev-battery-supply-chain/
Please join Electrovaya as Sankar DasGupta will be participating in a panel discussion - Building a Canadian vision for an EV battery value chain hosted by Electric Autonomy Canada on June 22, 2021 at 1:pm ET. #netzero #lithiumionbatteries #esginvesting
https://lnkd.in/g7F-enJ
Panelists are leaders in the Canadian ecosystem and have made enormous contributions to their fields. They include: Dr. Jeffery Dahn, Professor of Physics and Atmospheric Science at Dalhousie University and NSERC/Tesla Canada Industrial Research Chair; Samantha Espley, President of the Canadian Institute of Mining, Metallurgy and Petroleum; Marc Bedard, CEO and Founder of the Lion Electric Co.; Flavio Volpe, President of the Automotive Parts Manufacturers’ Association; Emmanuelle Toussaint, Vice President Legal, Regulatory and Public Affairs at Volvo Group and many more.
We are grateful for the participation of all the panelists and for the support and involvement of our Presenting Sponsor, Invest in Canada.
DiveNSail that article is really fantastic I just want to repost that link so that all who come to this board could get a chance to read it.
https://medium.com/scubanomics/surface-supplied-air-vs-a-blue-ocean-strategy-for-the-dive-industry-b3aafe4e2496
Welcome to the board, and thanks for the information, a very interesting article you posted here.
JMHO I think once we do get Nasdaq approval there will be a huge increase in trading vol, right now there are restrictions on several trading apps such as Robin hood, Webull, and many others. Uplisting the stock to a better exchange will bring a whole new group of investors. After all, this company is in a hot sector EV and is way undervalued
JMHO.
Nice find! 10 more assembly techs must mean sales are improving! I like that!!!
LITHIUM-ION TECHNOLOGY: THE NEXT GENERATION OF FORKLIFT EFFICIENCY
https://www.toyotaforklift.com/resource-library/material-handling-solutions/parts-services/lithium-ion-technology-the-next-generation-of-forklift-efficiency
As environmental concerns and fluctuating oil prices continue to push consumers toward alternatives to traditional internal combustion (IC) engines, forklift operations have increasingly looked toward electric vehicle solutions over the last decade.
Customers are now buying far more electric forklifts than those powered by IC engines. Electric forklifts now make up 70 percent of total sales, and with increasing demand for electric power comes a need to provide a solution that provides all of the benefit of IC without a loss in productivity.
Lead acid batteries have been a capable solution for years, and they continue to dominate the market today. It is estimated that lead acid batteries power 90 percent of electric forklifts in operation.
But a new player has emerged on the scene in recent years and is revolutionizing the way some companies do business. Lithium-ion battery (LiB) technology represents the next generation of forklift efficiency, and experts say that LiB market share in electric forklifts will grow significantly over the next five years.
So, what’s all the hype about? Does lithium-ion make sense for every customer? Is it true that lithium-ion is better for the environment than lead acid? Here’s what experts at a few of the top LiB manufacturers had to say.
Does Lithium-Ion Technology Make Sense For Every Customer?
While LiB technology offers unique benefits, experts admit they don’t always make sense for every customer. Each battery manufacturer is different in how it determines whether LiB is a good fit for a specific customer.
Navitas Systems uses a calculation called Equivalent Battery Usage, or EBU, to determine if LiB is the right solution for a given customer. Navitas uses a threshold of 1.6 EBUs, meaning customers using their lead acid batteries more than an average of 1.6 times per day is a potential fit for LiB. If a customer’s EBU number falls below 1.6, however, Navitas will likely recommend that the customer continue using lead acid.
“Typically, multi-shift – 2-3 shift applications – are above 1.6 EBUs,” said Samer ElShafei, Navitas’ Vice President for Commercial and Industrial Sales. “We deal with automotive, general distribution, food distribution, retail, paper industries. It’s well-rounded. It’s really any type of application that operates equipment more than 1 shift a day.”
Electrovaya doesn’t have a specific metric it uses to determine the viability of LiB for a given customer. Instead, the company advises on more of a case-by-case basis.
Electrovaya initially offered sample batteries to customers and let them use them for 2-3 weeks. Then, based on the data collected from the battery, they could determine whether or not the battery was well suited to that customer’s application.
“Based on the lessons learned from these trials and the wealth of data, we can now do a really good job prescribing the right solution for you,” said Dr. Jeremy Dang, Electrovaya’s Director of Business and Project Development. “We can talk to a new customer today and ask them a few questions like, ‘how many trucks do you have? How many chargers? How many lead acid batteries? How many shifts?’ And from there, we can prescribe a solution that is right for them.”
Flux Power offers a similar view. The company installs its own telematics on the forklifts, the batteries, and the chargers to help determine if their batteries are right for a particular customer.
Flux conducted a survey with a small Costco distribution center that had eight units and was operating at about a shift and a half. After testing LiBs on the fleet, Flux recommended they stay with lead acid.
“It didn’t make sense for them to spend $20K for a big battery for some of their stand-up units,” said Tod Kilgore, Flux Power’s Director of Sales. “The lead acid out right now is very good technology, but there’s a time and a place for it. The same is true with lithium. If you’ve got smaller fleets and a single shift, you don’t go with lithium.”
The reason lithium-ion doesn’t make sense for every customer today is simple – the high upfront cost and the high variability in return on investment. LiBs are more expensive than lead acid batteries, and they’re best used in high-throughput applications, experts say.
“The higher the EBU, the quicker the return,” said Navitas’ ElShafei. “Generally, at greater than 1.6 EBUs, we’re seeing positive returns on investment in 18-24 months. The primary thing is finding the right application for the right technology.”
“We do often get inquiries from customers who are interested, and many times, we do tell them that this is not the right product for them based on their operation,” said Electrovaya’s Dang. “If you’re a one- or a two-shift operation, we find that the return on investment is not as great. In those cases, even if they’re still interested, we minimize the capital cost by offering a smaller battery and play around with the battery/charger ratio such that they don’t have too many chargers. But most of the time, we look for customers who are of a 24/7 or 24/6 nature. This is where you’re really going to see the true benefit of lithium.”
Exploring the Target Market for LiB: More Than Just Cold Storage
There are quite a few applications where lithium-ion makes sense – but some are garnering more attention of battery manufacturers than others.
The cold storage industry is the most obvious because of lithium’s ability to perform in a wide range of temperatures and environments.
“In cold storage, lead acid batteries don’t perform that well,” said Dang. “The impedance and impact on capacity is a killer for them.”
Lithium-ion batteries, however, can be manufactured with heaters installed to thrive such conditions. Nearly all of Electrovaya’s batteries, for example, come with an ingress protection (IP) rating of IP65, meaning the battery’s internal components are protected from water and condensation, as well as in temperatures as low as minus-35 degrees Celsius.
IP ratings range from 0-69, and are used to qualify levels of dust- and water-sealing effectiveness. LiBs for cold storage applications typically have an IP rating* between 65 and 67. A rating of IP65 means the product is “water resistant”, a rating of IP66 means it is “water resistant against powerful jets”, and IP67 means the product is protected from “immersion between 15 centimeters and 1 meter in depth”. For comparison, modern cell phones typically have an IP rating of 67 or 68, which protects the product from “long-term immersion up to a specified pressure”.
“Some of our competitors are offering two separate battery solutions based on the temperature application,” Dang said. “For cold storage customers, they’ll provide a battery with some sort of heater, and in an ambient environment, they’ll take away the heater. In our case, we have a one-size-fits-all kind of solution. We don’t care if it’s a minus 35-degree application or a 35-degree application, we prescribe the same battery model.”
Cold storage makes sense for LiBs, but the applicability of lithium-ion is much broader than just one industry, Navitas’ ElShafei says.
“It’s really associated with how much energy is being used,” he said. “It has great application and returns in the cold storage industry, but the applicability is much broader than cold storage. Some might reference it because that’s their initial target market where they focus their product or their efforts on.”
Another area where LiBs are a good fit are for third-party logistics companies.
“Those are some of our heavy-duty users,” said Dang. “It’s the nature of the business. They are moving goods all the time, so they may require heavy-duty, high-capacity batteries, something lead acid won’t necessarily be able to handle.”
The Transition to LiB: ‘A Culture Change’
Most companies have been using lead acid batteries for many years, so the decision to transition to a new technology isn’t always easy – and the transition itself isn’t always seamless.
Perhaps the top factor for customers considering the transition?
“Obviously the cost,” says Navitas’ ElShafei. “For the new technology, it is more costly up front. If the customer is able to look at the investment from a total cost of ownership, then that helps out with lithium rather than just the upfront price.”
Added Flux Power’s Kilgore: “The thing about lithium is you need data from telematics because your initials costs are so high. We’re not going to sell a battery to a customer that doesn’t make sense or isn’t going to generate a return on investment.”
If a customer determines LiB makes sense for their application after analyzing the total cost of ownership, there are still several things to consider in preparation for the transition. Adopting LiB requires significant training, reconfiguring of facilities, and more.
For example, forklift operators need to be trained on lithium – especially if they are unfamiliar with opportunity charging. With LiB powered forklifts, operators are asked to plug the batteries into a charger every time the forklift is not in use – even if it’s just for a short break.
“This is not something that they’re used to. So, in the first two months, operators were not plugging in their batteries, and batteries were too drained for the next shift,” says Electrovaya’s Dang. “It took two months to fully train them, show them that it’s very important to plug in during any break, whether it’s a five-minutes or 30 minutes. In that time, even though it doesn’t seem like much, the battery will recover a lot of energy that was already used, so it’s beneficial to the next person that wants to use the truck.
“With every customer we’ve done this with, there’s always a culture change. The first two months will be rough, but after the first two months, things will be a lot smoother, and you’ll see the true benefit of our lithium-ion battery system.”
Regardless of the battery type, though, Navitas’ ElShafei says opportunity charging will become more and more common in the future – even for lead acid batteries. While there may be a learning curve for operators, there are undeniable benefits to an opportunity charging approach.
Opportunity charging offers the ability to decentralize the charging location by having multiple charging stations.
“We have some situations where customers have smaller charging areas and they may have 20 trucks park in one area, but they do that in 5 different areas within the facility,” ElShafei says. “We’ve seen other facilities where they spread out chargers all throughout their manufacturing facilities and they don’t even need to take the truck to the break room in that situation. They might park it at a piece of equipment on the manufacturing line. The bottom line is opportunity charging offers a lot of flexibility.”
Battery manufacturers can help make the transition from lead acid to LiB smoother by helping companies train their employees and re-think their facility layout.
“In the beginning, the training was a bit ad-hoc, but now we do have formal training programs – both with the customers’ maintenance team and master trainers, and with some of the forklift dealers themselves,” says Electrovaya’s Dang. “In most cases, our customers install the chargers right beside the break room or by the bathroom because it’s more practical that way. It’s an easy way to remind and encourage operators to always plug the batteries in. But in some cases, customers don’t have the flexibility to add chargers to a specific location due to limitations in their facility.”
Flux Power conducts a full site survey prior to any installation to come up with a custom design that works based on the customer’s unique operational needs and concerns.
“It’s a learning experience, and education is a big deal. It’s a totally different technology, and a totally different mindset,” said Flux Power’s Kilgore. “Most customers have forklift operators that have been working for 10 or 20 years with lead acid on their mind, and it’s not easy to change that mindset. It’s like going from a cassette to a CD.”
But the experts we talked to all agreed: Retraining and rethinking facility layouts are not deterring customers from shifting to LiB.
“Our customers are understanding, they’re quite progressive. The number one factor is cost,” says Electrovaya’s Dang. “Not everyone can afford or has the budget to buy lithium, especially for a smaller operation. But for someone like Amazon or WalMart, a 24/7 distribution center, the return on investment is clear, and they have the budget to afford the initial high capital investment.”
Not Always Greener
There are many reasons why the material handling industry has shifted to electric products. Electric forklifts require significantly less maintenance, offer lower operating costs than IC products, and are quieter.
But one of the top reasons for the gradual shift to electric? Companies are becoming more and more conscious of how they’re impacting the environment, and electric forklifts produce zero emissions during operations.
Because lithium-ion batteries are more efficient than their lead-acid counterparts, it’s reasonable to think that LiBs would be a greener option. But that’s not always the case – LiBs have their own environmental concerns.
The major components of a lithium-ion cell require the mining of lithium carbonate, copper, aluminum, and iron ore. Lithium is only a minor portion of the battery cell by mass, so the environmental impacts of copper and aluminum are much more significant.
The biggest differentiator, though, is the recyclability of the batteries. Lead acid batteries have been around for a long time, and as a result, have much more mature recycling programs. Lead acid batteries are recycled approximately 99 percent of the time, compared to LiBs, which currently have a recyclability rate of less than 5 percent.
“It definitely depends on how the lithium is mined and how it is recycled and returned to the environment,” says Electrovaya’s Dang. “You only find a select few vendors in North America that are willing to recycle LiBs. But I believe that as the world transitions more towards using lithium, more recycling companies will pop up, and better recycling programs and technologies will be developed.
“There are some areas in which lead is greener than lithium, but the area in which lithium is really more environmentally friendly is in the application or the use of. Our LiBs are completely sealed with no gassing.”
As recycling programs are developed for LiBs, battery manufacturers are exploring unique ways to give these batteries a second and third life.
Flux Power asks that their customers send the batteries back when they’ve reached their limit, and Flux uses them as backup power for solar energy.
Navitas and Electrovaya are also finding ways to refurbish the used LiBs when they reach the end of their first intended use – which usually means a high-throughput operation.
“I think of the analogy of a cell phone,” says Navitas’ ElShafei. “You personally use your cell phone a lot, and at some point, you might say ‘my iPhone isn’t lasting as long anymore and doesn’t get me through my day’, so because of the battery life, you get a new phone. That will happen with a lift truck as well. There’s certainly a market for people who don’t use their iPhone as much as you do. Maybe they use it 4 hours out of the day and you use it 8-10 hours a day. The same is true with lift trucks. Maybe they put new software on it, they clean it up, they repaint it, they put new contactors and a fuse in it, and then they resell it to a 1-shift application that just uses it less frequently than the first customer.”
Electrovaya offers up to a 10-year warranty on their batteries. While their oldest battery is currently four years old, Electrovaya plans to repurpose batteries with any remaining life at the end of the 10-year warranty.
“We will find some second life application, whether it’s energy storage or maybe a one-shift operation like a mom and pop shop,” Dang says. “Every year, we do an annual inspection of the batteries. In our most recent inspection at the three-year mark, the batteries had minimal degradation, so they will actually surpass the warranty period. At the 10-year mark, as long as they stay on track, we do not plan on breaking down a battery and recycling it. We plan on repurposing it.
“The beauty of lithium is, depending on the specific lithium formulation and chemistry used, the batteries can last a very long time. In our case, we use NMC, or Nickel Magnesium Cobalt Lithium technology. This chemistry combined with our proprietary formulation permits the battery to last up to 9000 cycles. So, if you’re an operator that uses about 2-3 cycles a day, this battery is going to last up to 12 years, and that’s on the heavy usage side. If you’re a medium-duty user that uses 1-2 cycles a day, you’re looking at way above 15 years here. So, after the 10-year mark, you can definitely see another two years or even more in something such as energy storage.”
The Future of LiB
While the adoption of lithium-ion technology is growing, it still represents a rather small percentage of the material handling industry. Experts expect that to change over the next five years.
“There’s a misconception that in five years, someone can just create a battery that lasts twice as long as the battery previously,” says Navitas’ ElShafei. “Technology takes a long time to develop. With LiB, the technology is here now, and what’s going to happen in the next five years is the availability, the scale, and the distribution of the product will all increase and improve.”
Electrovaya’s Dang expects the price of lithium-ion technology to continue to drop as scale increases.
“It’s not a matter of if, it’s a matter of when and how much penetration this can get into other markets,” says Dang. “It’ll be a good thing for the entire space in general because costs will come down, manufacturers will find more innovative ways to manufacture lithium cells at a higher scale and a lower price. The same is true when it comes to mining the minerals needed to make lithium cells. It’s human nature for us to discover and optimize. The price we’re offering material handling customers today has significantly dropped since 2017.”
Battery manufacturers are thinking far beyond traditional forklifts when it comes to the future of LiBs. Automated Guided Vehicles (AGVs), Ground Support vehicles, public transit buses, and delivery vehicles are just a few areas where experts say LiB technology could be adopted.
“Material handling is the number one space that makes sense, but any vehicle that is actively used for more than 10 hours a day could benefit from lithium,” says Electrovaya’s Dr. Dang. “And in terms of R&D, lithium-ion cells will continue to increase in capacity, so it will be possible to power vehicles like delivery vans and buses safely.”
Flux Power has signed contracts with Delta and Southwest Airlines as they transition into the Ground Support market, and they’ve seen significant traction in the automated guided vehicles arena as well.
“The future of lithium is really big,” says Flux Power’s Kilgore. “There’s great momentum now that all of these industries are getting more and more involved.”
Added Navitas’ ElShafei: “We’re all investing heavily in this market space to be part of the incremental market share conversion from lead to lithium, and from IC to electric. Lithium offers the performance of propane with the benefits of electric – what customer doesn’t want that?”
*International Electrotechnical Commission (IEC) https://www.iec.ch/ip-ratings
https://www.toyotaforklift.com/resource-library/material-handling-solutions/parts-services/lithium-ion-technology-the-next-generation-of-forklift-efficiency
Please join Electrovaya as Sankar DasGupta will be participating in a panel discussion - Building a Canadian vision for an EV battery value chain hosted by Electric Autonomy Canada on June 22, 2021 at 1:pm ET. #netzero #lithiumionbatteries #esginvesting
https://lnkd.in/g7F-enJ
Electric Autonomy announces national panel discussion series on Canada’s EV battery supply chain
EAC main battery webinar image
Starting June 1, Electric Autonomy Canada will host six, weekly panel discussions with leaders from the Canadian battery and automotive sectors to explore the need and road map for establishing Canada’s national electric vehicle battery supply chain
Canada is one of the few countries in the world with all the components in place to enable the development of a national battery supply chain. From coast-to-coast-to-coast Canada has the materials, talent and manufacturing capabilities to form a completely independent and vertically integrated value chain. But one challenge remains: harnessing these rich, regional attributes to turn that potential into reality.
We will be convening stakeholders from across the country to talk about their work and how it can integrate into a national framework, and the impact it will have on the country to be able to establish an initiative on this scale.
You are invited to join the conversation and register for one, or all, of the discussion panels which will explore these topics:
Episode 1: National Overview – June 1
Episode 2: Canadian R&D and Innovation in Batteries – June 9
Episode 3: Battery Metals Extraction and Processing – June 15
Episode 4: Active Materials and Cells – June 22
Episode 5: Pack and Vehicle Assembly – June 29
Episode 6: Battery Second Life – Reuse/Recycling – July 6
Attendance at these events is free and registration is available here:
Panelists are leaders in the Canadian ecosystem and have made enormous contributions to their fields. They include: Dr. Jeffery Dahn, Professor of Physics and Atmospheric Science at Dalhousie University and NSERC/Tesla Canada Industrial Research Chair; Samantha Espley, President of the Canadian Institute of Mining, Metallurgy and Petroleum; Marc Bedard, CEO and Founder of the Lion Electric Co.; Flavio Volpe, President of the Automotive Parts Manufacturers’ Association; Emmanuelle Toussaint, Vice President Legal, Regulatory and Public Affairs at Volvo Group and many more.
We are grateful for the participation of all the panelists and for the support and involvement of our Presenting Sponsor, Invest in Canada.
https://electricautonomy.ca/2021/05/18/canada-ev-battery-supply-chain/
I found this very impressive video from Raymond, we are into an entirely new system with Raymond's automation of the warehousing!!! This is a must-watch video to know where we are headed, and that way is up!!!
GLTA!!!
Nice to see a very positive earnings report. We are on our way, maybe we hit .10+ with this news! GLTA!!!