News Details – Smallcapnetwork
Oakridge Global Energy Does the "Impossible", Powers an Electric Tractor Trailer
/

February 2, 2024

/

PDT

Did everybody scoop up some Oakridge Global Energy Solutions (OGES) shares on Monday or Tuesday after we profiled the company for you on Monday morning? We hope so, as the up-and-coming company released some news this morning that can only be described as stunning. Long story made short, OGES had made the 100% battery-powered electric tractor trailer viable using its breakthrough lithium-ion battery technology. We tend to avoid using the term because it's cliche and often overused, but this really is a game-changer for the industry. I wouldn't be shocked if it also catapults Oakridge Global Energy Solutions shares much higher. I don't know how closely you've been following the advent of electric vehicles and the way they're powered, but I have, mainly because I've had to - it just comes with the job. Anyway, one of the unspoken nuances of the whole EV movement has been that, while electric sedans and passenger cars are compelling, passenger vehicles the biggest and best way to reduce vehicle-driven pollution and gain energy independence. The best way to do that is to electrify the trucks that pull trailers around. Problem: The power systems available just weren't up for the job in a meaningful way... that is, until now. The press release in its entirety is below. I'll cut to the chase, however - OGES has created a battery that can pull a fully-loaded trailer for 400 miles. Folks, that's game-changing. I did a little research on the matter and came up with some relevant metrics. Did you know... It costs about 60 cents worth of diesel fuel to push a rig one mile? "Big trucks" can create as much pollution as 150 cars in just one year? Diesel emissions lead to an estimated 21,000 premature deaths per year in the U.S.? The average tractor/truck consumes $70,000 worth of diesel fuel per year? These trucks collectively burn 54 billion gallons of diesel fuel in the U.S. per year? The average semi can rack up as much as 100,000 miles in one year? It's crazy, isn't it? This is a huge opportunity to take a quantum leap forward in terms of the environment and energy independence with the use of electric tractor trailers. They just didn't get trucks' loads far enough, until now. The 400 mile range is about a day's worth of driving. Here's the clincher: This electrified setup will save Freedom Trucking about 60 cents per mile... the fuel cost, which is roughly 40% of a truck's per-mile operational cost. That's huge. How has the company done what they say couldn't be done? The powerpack in question is still a lithium-ion based battery powerpack (the same kind that powers Teslas and most other electric vehicles, as well as your laptop and even your smartphone). But, it's a solid-state lithium battery powerpack, which store 25% to 30% more electricity than the typical lithium-ion cells available today, which utilize a liquid-based electrolyte. We talked about the science on Monday. But, it gets better. While I think we can go ahead and assume Oakridge Global Energy Solutions is in a position to become the supplier for Freedom Trucking's fleet, that's not the only customer OGES has in the funnel. On Monday morning - shortly after we published our first look - the company announced its battery technology was also put to the test by a defense contractor. The company was Maritime Tactical Systems, or MARTAC, for short. It's developed what it calls a Man-Portable Tactical Autonomous Systems (MANTAS), which is basically a water-based drone that could be used in a variety of roles including mine warfare, security patrols, search and rescue, and more. It's the kind of thing law enforcement agencies and the military would use, and the fact that MARTAC loved the performance of the battery bodes well. What's amazing about the whole thing is, I don't think anybody thought Oakridge Global Energy Solutions was this ready to start producing solid-state lithium batteries en masse. Clearly the company IS ready. In fact, Oakridge told us they'd start producing them in bulk in January. They weren't kidding. Also, don't forget OGES expects to be doing $1 billion worth of sales per year within five years. The company also told us it had sales already in the works. Hopefully everybody took the company at its word. Our thesis from Monday hasn't changed. Our conviction from Monday, however, has grown - we think OGES appears to have all the makings of a potential homerun someday, as well as achieving potential large cap status before it's all said and done. At stake is a $70 billion lithium-ion battery market, although that market could swell now that tractor trailer batteries are worth making. It's also worth reminding you the company has an uplisting to the NYSE in its sights, which can also fan the bullish flames. One of these days (and sooner than later) the right news is going to create the right nudge in the right way and unlock a ton of bullish potential in a very short period of time. That move could be too hot to chase though, so you may not want to tarry if you're still mulling a position. Today may well be the day. Here's the full press release. Oakridge Supplying Battery Systems to Fully Electric Interstate Trucking in the USA Oakridge Global Energy Solutions: A New Era In Battery Manufacturing February 24, 2016 Melbourne, Florida – Oakridge Global Energy Solutions, Inc. (OTCQB: “OGES”) is excited to announce that it will be supplying batteries to Freedom Trucking in Minnesota. Freedom Trucking has developed a fully electric interstate truck propulsion system that will immediately enable interstate trucks with a gross vehicle weight of 80,000 pounds to travel more than 400 miles. By utilizing a proprietary logistical system, powered by specially designed Oakridge battery systems, Freedom Trucking can now begin to utilize its revolutionary fully electric interstate trucks in the interstate logistics industry to move product from Chicago to Minneapolis on a daily basis commencing in the last half of 2016. Using fully electric trucks to move this cargo will save each truck in excess of $0.60 per mile over traditional diesel fuel according to initial analysis for Freedom Trucking by the US Department of Transportation, which will completely revolutionize the economics of the interstate trucking business in the USA, by saving on fuel costs, maintenance costs, and weight. “The custom battery design for Freedom Trucking is an absolute game changer,” said Oakridge Executive Chairman and CEO, Steve Barber. “We are excited to be working with Freedom Trucking and their team on such a revolutionary product. We at Oakridge are continuing our mission to onshore manufacturing back to the US and this is a really big win for all of us. We are reducing carbon emissions, reducing our dependence on foreign oil, and bringing manufacturing back to the US, while at the same time playing a pivotal role in revolutionizing the interstate trucking business. This is a tremendous win for everyone in the USA.” Freedom Trucking has been working on the design of the propulsion system with Ohio State University scientists and others for the past five years. This product has been hampered by poor quality Chinese batteries, but is now ready for full scale production in 2016 with high quality, “Made in USA” Oakridge battery systems. “We are all about game-changing technology and products at Oakridge. Oakridge is THE “Made In The USA” battery company that has the talent and technology to overcome these types of obstacles for our customers in designing state-of-the-art high performance custom battery systems. With our new custom battery systems, we have now greatly expanded the effective range of the electric truck, now making them a practical reality for immediate application to the interstate trucking business, while at the same time providing a much safer, low maintenance vehicle by virtue of the more robust chemistry and the battery management systems we have designed for this product,” adds Mr. Barber. About Oakridge Global Energy Solutions, Inc. Oakridge Global Energy Solutions Inc., is a publicly traded company, trading symbol: OGES on the OTCQB with a market capitalization of approximately USD $ 200,000,000, whose primary business is the development, manufacturing and marketing of energy storage products. Additional information can be accessed on the company's website www.oakridgeglobalenergy.com Forward-Looking Statements Disclaimer: This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. In some cases, you can identify forward-looking statements by the following words: "anticipate," "believe," "continue," "could," "estimate," "expect," "intend," "may," "ongoing," "plan," "potential," "predict," "project," "should," "will," "would," or the negative of these terms or other comparable terminology, although not all forward-looking statements contain these words. Forward-looking statements are not a guarantee of future performance or results, and will not necessarily be accurate indications of the times at, or by, which such performance or results will be achieved. Forward-looking statements are based on information available at the time the statements are made and involve known and unknown risks, uncertainties and other factors that may cause our results, levels of activity, performance or achievements to be materially different from the information expressed or implied by the forward-looking statements in this press release. This press release should be considered in light of all filings of the Company that are contained in the Edgar Archives of the Securities and Exchange Commission at www.sec.gov.