Like a handful of other relatively small-sized energy companies (Maxwell Technologies [Nasdaq: MXWL] and A123 Systems Inc. (NASDAQ: AONE) to name just two), BLQN understands that electric vehicles are only a part of the story and a fraction of the market.
Energy storage costs are dropping across the board and the lithium battery boom is officially upon us. As signs of life are gradually trickling back into our ailing economy, the companies that have an established foothold in the lithium battery market today will be the companies that become household names of tomorrow. Balqon Corp., trading at .25 cents a share with a current market cap 6.27M, was initially established as a small but pioneering electric vehicle manufacturer. Founded in the very progressive Orange County, California, the company has recently made waves in the industry by applying its unique set of knowledge and expertise from the electric vehicle business to the flourishing lithium battery market, and managing to find a middle ground unprecedented among other companies in the lithium battery field.
With a technologically advanced arsenal of zero-emissions tractors and trucks, including its flagship Nautilus XRE 20 All Electric Terminal Tractor which has been used to haul up to 60,000 pounds of freight at effective ranges in and around the Port of Los Angeles, Balqon has an established reputation as a go-to corporation for industrial and transportation electric vehicles. In 2007, the Port of Los Angeles commissioned the company to manufacturer a series of tractors that would reduce ultimate costs by using clean and efficient energy, and Balqon has been gearing up for success ever since. Recently Balqon was awarded grant to produce three on-road Class 8 Electric trucks by Department of Energy. Balqon new on-road Class 8 Model truck, MX30 has been undergoing tests at Port of Los Angeles for the past three months hauling 40,000 lbs in short haul applications.
In fact, the company has diversified even more in recent months. Balqon has both retained and grown its interests in electric vehicles while also expanding its focus to the exponentially expanding energy storage market. Energy storage market has been growing worldwide as demand for stable electric grid and grid efficiency is at the forefront in most major economies. Lithium batteries are a significant component of the energy storage solution, where market leadership is decided on economic justification and technological experience in the market.
Applications ranging from on-grid and off-grid solutions to residential and commercial applications require economically viable solutions that can displace entrenched technology of lead acid batteries. Balqon, with its exclusive distribution rights for Lithium batteries from Winston Battery Company, combined with proprietary technologies of inverters, chargers and battery management systems, provides a cost and technological advantage in the mid power level applications ranging from 10 kilowatt hour to 1 megawatt hour energy storage systems.
Earlier this year, Balqon installed its own one Megawatt Hour storage system into the Bourns College of Engineering building at the University of California, Riverside, providing renewable energy to the entire structure in a display of power that impressed students and professors at the campus, as well as battery storage investors the world over.
In addition, company CEO Balwinder Samra has over 20 years of executive experience in the field of electric vehicles and a background in chemistry. A shift into the lithium battery market is merely a venture into very familiar territory for Balqon with this group of elite personnel at the helm.
With a burgeoning array of proprietary lithium batteries, including the company’s new 12, 24, and 48 volt HIQAP configurations which use their own Battery Management System for 15% greater transfer efficiency than lead acid battery technologies, Balqon is poised to power up not only its own base of electric vehicles, but a host of other applications as well.
The company has recently announced a variation on the HIQAP series called the HIQAP-GS, which will be used as a replacement battery pack for electric powered airport baggage trackers. Having placed its interests into such a diverse number of lithium battery storage applications, it is clear that Balqon has perceived the wide open opportunities of the lithium battery storage market and intends to capitalize on them from a multitude of angles.
With a revolutionary line of proprietary battery systems and electric vehicles in its arsenal - assets which will prove more and more valuable with the inevitable green revolution that the world will see in the next several years, Balqon has raised the bar on these technologies and benefited the consumer in the process. Any smart investor knows great financial success awaits any company that can certifiably make that kind of a claim, and Balqon is no exception to that rule.
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Safe Harbor Statement Under the Private Securities Litigation Reform Act of 1995
With the exception of historical information, the matters discussed in this press release, including without limitation, the economic and commercial viability of Balqon Corporation's vehicles, including the HIQAP(TM); whether the HIQAP(TM) will be lower in cost than lead acid batteries; whether the HIQAP(TM) will provide its users with lower operating costs than the operating costs incurred by users of deep cycle lead acid batteries are forward looking statements that involve a number of risks and uncertainties. The actual future results of Balqon Corporation could differ from those statements. Factors that could cause or contribute to such differences include, but are not limited to, market acceptance of the Balqon's technologies and solutions; unforeseen technical issues; Balqon Corporation's ability to attract sufficient capital and labor to manufacture its products; the ability of Balqon Corporation to attract and retain talented individuals; adverse economic and market conditions; the projected future demand for Balqon Corporation's products, including the changes in technology and governmental regulations and policies; and other events, factors and risks previously and from time to time disclosed in Balqon Corporation's filings with the Securities and Exchange Commission, including, specifically, those factors set forth in the "Risk Factors" section of Balqon Corporation's most recent Annual Report on Form 10-K filed with the Securities and Exchange Commission.
Source: Seraphim Strategies Clearwater FL , November 16 , 2012