Some much needed news this morning for a company that continues to struggle and bleed red ink- A123 Systems (AONE). Many wonder whether this company ultimately survives and that’s reflected in the stock price which plunged about 80% last year. This morning the company has announced it will be the lithium battery supplier for Tata Motors (TTM) commercial vehicles. Tata is India’s largest vehicle manufacturer so the news isn’t insignificant.
A123’s highly scalable and versatile … Read the rest
The big losses for A123 Systems (AONE) continues with no end in sight and that is never more apparent after the earnings report this quarter in which the company reported record revenues, but another steep loss to go with it. The company reported an EPS loss of .51/share (wider than analyst estimates for loss of .38/share) on revenues of $64.3 million vs the analyst estimate for $66 million.
Several weeks ago, Solyndra became the biggest blight of Obama’s green energy initiative not long after questions were raised about the cash dumped into Evergreen Solar which too ultimately failed, but it doesn’t and won’t end at solar. On Sunday night, Beacon Power (BCON), which makes flywheel technology to recycle unused power, filed for bankruptcy protection.
Granted Beacon’s loan guarantee was less than a 1/10th of Solyndra’s at $43 million of which $39 million … Read the rest
The news that Panasonic will be the lithium battery supplier for Tesla’s Model S doesn’t come as a surprise, but it’s still another blow to the US green energy industry which continues to lose out to lower cost Asian competitors. It’s more apparent in the solar space and becoming increasingly apparent in the battery space. Panasonic and Tesla have been working together for a couple years on battery development and Panasonic invested $30 million in … Read the rest
I’ve been out on vacation for a few days so missed this press release, but on Aug 26th UQM Technologies (UQM) announced that it’s expanding into the hybrid marine propulsion business through a collaboration with ReGen Nautic. Now if we could just do something about the damn noise of jet skis!
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UQM will integrate its UQM PowerPhase hybrid electric systems into a variety of marine applications … Read the rest
It’s been a rough year for lithium battery stocks, but every once in awhile some good news emerges such as the $7.2 million lithium battery order Valence Technology (VLNC) received from Electric Vehicles International (EVI) to be used in 100 UPS trucks around California. No word on when the vehicles would be placed into service.
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"Valence is the exclusive advanced battery supplier to EVI, and we … Read the rest
Earlier today, A123 Systems (AONE) got some much needed good news and it was big news leading to a nearly 50% spike in the stock. General Motors (GM) awarded the company a production contract for batteries to be used in future GM electric vehicles to be sold in select global markets. The deal expands upon the existing relationship between the two companies to further the development of advanced batteries.
===> Click Here For Your … Read the rest
Ener1 (HEV) is announcing a lithium ion battery cells distribution deal with the leading high performance electric motorcycle manufacturer, Lightning SuperBike. They will also eventually supply cells for Lightning’s commuter bikes and scooters which will be developed over the next few years. Lightning is expected to come out with a street legal version of its record breaking high speed bike soon.
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"We’ve tested many different battery … Read the rest
This was an investment announced quite awhile awhile ago, but it’s being announced this morning that the $57 million investment in Altair Nanotechnologies (ALTI) by Canon Investment Holdings is finally closing. The investment will result in a majority ownership stake for Canon, but it was necessary for ALTI to survive and make a run at a big push in the China market.
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Canon chairman Wei Yincang … Read the rest
Ener1 (HEV) and Wanxiang Electric Vehicle Co. announced that the Chinese government has approved their joint venture to co-manufacture lithium-ion storage energy systems for the China market. The new company will initially focus on fulfilling existing contracts with State Grid, the largest power supplier in China. The projects include electric buses and cars as well as grid storage systems. In the future, the joint venture company could fulfill orders for other customers such as SAIC … Read the rest