Now we know specifically why why ABAT wanted to raise $30 million which sent the stock reeling in the short term. The company said it would use the funds for acquisitions and expansion and that’s exactly what they’ve announced today. Advanced Battery Technologies (ABAT) has entered into an Acquisition Agreement with Shenzhen Zhongqiang New Energy Science & Technology which manufactures lithium batteries for mobile phones, MP3 and video game consoles. The $20 million acquisition is … Read the rest
Category Archives: Lithium Batteries
Kandi Technologies (KNDI) Launches New Lithium Battery Powered Car Which China Govt Says Is Eligible For Subsidies
Shares of Kandi Technologies (KNDI) began surging about three hours ago after the company announced it launched their lithium ion battery based electric car, the KD5011, which features a range of 200 – 230km per charge. The previous model (KD5010) used a lead-acid rechargeable battery and had a driving range of 100-150km per charge. They also announced that the new model is eligible for national subsidies of up to $9K per vehicle in all … Read the rest
New Energy Systems (NEWN) Raises Guidance, Sees Strength In iPhone, iPad, iPod Products
Shares of New Energy Systems (NEWN), a China lithium battery play, got a nice pop today on news the company has raised guidance roughly 10% which they feel is still conservative. Here’s how it breaks down.
2010 revenue guidance raised from $88 million to $95 million
2010 adjusted net income raised from $15.6 million to $18 million
2010 adjusted EPS raised from $1.23 to $1.40.
==> Click Here For Your FREE Daily New Energy Systems … Read the rest
China Bak Battery (CBAK) Misses, CFO Steps Down, Shares Pressured
China BAK Battery (CBAK) posted disappointing results this morning, posting another quarterly loss. Analysts had expected the company to get back in the black, but instead they posted an .08/share loss. Net revenues were shy of the analyst estimate as well at $55.6 million (analysts expected $60 million).
==> Click Here For Your FREE Daily CBAK Technical Analysis Report
Most of their business comes from battery packs for mobile phones and other personal electronic devices … Read the rest
Advanced Battery Tech (ABAT) Hit On $30 Million Capital Raise
Advanced Battery Technologies (ABAT) is down 10% this morning on news the company will raise $30 million by selling 7.5 million shares at a price of $4/share. The company will also issue warrants that when fully exercised could provide another $15 million in capital. The company plans to use the proceeds for acquisitions and manufacturing capacity.
The best companies are able to recover quickly from a capital raise, so it will be interesting to see … Read the rest
Advanced Battery Tech (ABAT) Reports Mixed Results, But Shares Up
Advanced Battery Tech (ABAT) which has long been my favorite lithium battery play, reported Q3 earnings results last night that were mixed, but traders like the report, sending the stock up a few percent in pre-market trading. The company reported an EPS of .16/share vs the analyst estimate for .12/share on revenues of $25.9 million which was just shy of the analyst estimate of $27.5 million. Those numbers represent a 100% quarter over quarter jump … Read the rest
A123 Systems (AONE) Red Ink Still Flowing, Delays Production Ramp
A123 Systems (AONE) reported results after the bell today that indicated the red ink continues to flow as the company missed analyst estimates and reported the 3rd straight quarter of accelerating losses while revenues remain relatively stagnant. The company reported a non GAAP loss of .42/share vs the analyst estimate of a .30/share loss on revenues of $26 million which basically matched the analyst estimate. To make matters worse, they also indicated that their production … Read the rest
Ener1 (HEV) Announces $40 Million Deal With Russian Company For Utility Storage Systems
Ener1 (HEV) is announcing a significant contract with the Russian Federal Grid Company to co-develop utility scale lithium battery storage systems. The initial phase of the $40 million contract is already underway and focuses on grid integration of emergency power back up systems in economically critical areas. The Russian government is spending billions to upgrade its electrical infrastructure ahead of the Winter Games in 2014, so this may be the first of a few contracts … Read the rest
Most Important Alternative Energy Companies (FSLR, SMLNF, GE, ABB, SQM, CZZ, GPRE, ABAT, ITRI, CREE, ORA, OPTT)
24/7 Wall St published their list of the 25 most important alternative energy companies a few days ago and broke it down by category. I thought I’d highlight the companies they consider to be the most important in each category (which I agree with) and add in some of my own thoughts. There is one glaring omission in 24/7 Wall St’s report and that is geothermal. Geothermal remains the red headed step child of the … Read the rest
Valence Technology (VLNC) Raises Guidance, Shares Surging Another 10%
It’s been a great ride for Valence Technology (VLNC) in recent weeks. The stock began to show signs it was turning the corner in early September when I highlighted it in a video and it’s up about 40% since. This morning, the stock is going to run at least another 10% on news the company has raised guidance for this quarter and now sees revenues at $12 million vs the previous guidance of $8 – … Read the rest