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| 8-K - CURRENT REPORT ON FORM 8-K DATED FEBRUARY 13, 2015 - Oakridge Global Energy Solutions, Inc. | f8kcurrentreportpr021315.htm |
Oakridge Global Energy Solutions Adds Large Format Prismatic Manufacturing Capability
MELBOURNE, Fla.--(BUSINESS WIRE)--Oakridge Global Energy Solutions, Inc. (OTCQB: OGES), a cutting-edge technological leader in solid-state battery systems, purchased large format prismatic lithium ion manufacturing equipment with an estimated replacement value of more than $10,000,000 from Bren-Tronics on October 20, 2014. This equipment has now been relocated to Melbourne, Florida and is ready for installation. Oakridge is currently negotiating a lease for a 50,000 square foot building necessary to commence large scale production of the energy efficient, high energy Pro Series Lithium Phosphate Golf Car Battery Systems that were recently unveiled by Oakridge with great success at the PGA Show recently held in Orlando on January 21-23, 2015.
"We are very pleased that we were able to complete product development of our new Pro-Series batteries so quickly thanks to the preliminary operation of this equipment prior to its acquisition," said Steve Barber, Executive Chairman of Oakridge and Chief Investment Officer at Precept Asset Management. "We feel that this large format production equipment will aide us greatly in filling the many orders that we anticipate from the interest expressed at the product launch conducted at the PGA show."
Mr. Barber continued, "We were extremely encouraged by the reception the Pro-Series batteries received at the show from golf's leading industry experts and our Oakridge team is immediately following up on the momentum created. By adding this large format, high power manufacturing capacity opportunity to our existing capacity, we are now better positioned to continue our rapid growth in driving meaningful revenues in the very near term.”
Oakridge previously announced the purchase of this equipment. For additional information about the acquisition, please see the 8-K Current Report dated October 20, 2014, and filed with the Securities and Exchange Commission on November 28, 2014.
Oakridge Energy Technologies is a publicly traded company, listed as OGES on the OTCQB whose primary business is the development, manufacturing and marketing of energy storage products.
FORWARD-LOOKING STATEMENT 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.
Press Contacts:
Ben Jackson
ir@oakridgeenergytech.com
213.674.6700
Contacts
Oakridge Global Energy Solutions, Inc.
Ben Jackson, 213-674-6700
ir@oakridgeenergytech.com