Re: Energy absolute
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by
posted on
Nov 30, 2017 12:06PM
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I believe they want it kept under wraps for now. If you take the time to listen to the video from the opportunity day you can hear him mention Litarion over and over during several parts of the presentation so I am sure they are still involved and a big part of the deal. I really don't think people are getting what is happening. If you look at the forklift batteries, they only started with them about a year ago. They now have 5 fortune 500 customers (two are fortune 100 so two of the biggest companies in the world), they are testing with two other large companies over the holidays and have 20 trials going on with large companies as well. I have investigated the other industrial batteries for forklifts and Electrovaya is far superior. Jungheinrich is probably the closest competition based on what I have read and their cycle-life is about 3,000 and I believe their energy density is a bit below Electrovaya's at about 150wh/kg. Looking at the rest of the competition they are only at about 1,500 to 2,000 cycles with lower energy densities. Look at how that affects the forklift industry. If Hyster-yale is offering electric forklifts with double, triple or quadruple the cycle-life and better energy density how are the other OEM's going to compete? They will be forced to move to Electrovaya, you cannot offer a forklift with 1/2 or 1/4 the battery life as the competition. In the last couple of announcements they have mentioned they are working with multiple OEM's in the material handling space now. I believe the other forklift OEM's are moving to Electrovaya. Remember the battery in the forklift is the biggest cost so to save half or more is huge. That's just the forklift space.