EnerDel (HEV) is still a development stage company trying to become a lithium ion battery leader so it’s earnings results aren’t all that significant at this point. The company is still putting its plan in place and getting plants up and running.
“The first quarter was marked by continued execution against the strategic plan laid out in the fourth quarter earnings call,” commented Chairman and CEO, Charles Gassenheimer. “We have a clear focus for production, … Read the rest
The Fisker Karma, expected to be the first plug-in hybrid to hit the streets with a launch date in about one year may use Ener Del’s (HEV) lithium ion batteries if testing works out. The two companies have signed a letter of intent for a potential long term lithium ion battery supply agreement contingent upon reliability and performance testing. Fisker plans to build 15K vehicles per year and market them through and existing network of … Read the rest
This Friday at noon, Indiana Senator Evan Bayh will be an honored guest of EnerDel (HEV) at a ceremony marking the commissioning of the country’s first commercial scale production line for lithium-ion battery packs. To meet anticipated demand, EnerDel plans to expand the plant in Indiananopolis, pack assembly capacity at its Noblesville plant and may expand further through the purchase or construction of a 3rd plant. Anticipated annual production is currently in the neighborhood of … Read the rest
Ener1 seems like it would be one of the companies most likely to benefit from the stimulus plan. After all, the company makes batteries for electric cars and it has a manufacturing plant in Indiana, so it benefits American workers. Plus, the market for these batteries should take off as America tries to reduce the amount of fossil fuels used to power our vehicles. Here’s how Barron’s describes Ener1’s growth potential:
… Read the restIf Ener1 were to
MDB Capital came out today and upgraded Ener1 (HEV) with a Buy rating and a price target of $5.50. They believe the shares are compelling down at these levels due to the pipeline of potential customers including the possible reemergence of Think Global later in the year.
“We are revising our earnings model and now anticipate revenues in 2009 of $41 million (roughly $28 million coming from Enertech) and $77.5 million in calendar 2010. With … Read the rest
According to GreenTech, Ener1 (HEV) which currently manufacturers lithium ion batteries for electric cars is expanding into other markets such as utility grade storage and military applications. The CEO said at the Jefferies Global Clean Technology conference that they are working with a few utilities on smaller power grid storage units. On the military side, the company is working on hybrid tanks and unmanned aerial vehicles with potential orders of $7 million.… Read the rest
Ener1 (HEV), the developer of lithium ion technology for electric cars, reported a 4th quarter revenue surge but the development stage company continues to rack up losses on the earnings side of the coin. The company reported record quarterly revenue of $6.3 million but lost .12/share in the quarter due to an increase in R&D and admin costs.
The company finished 08 with $14 million in cash along with a $30 million loan facility to … Read the rest
Ener1 (HEV), maker of lithium ion batteries has signed a memorandum of understanding with ITOCHU of Japan to outline a partnership that would introduce HEV products into the Japanese automotive marketplace. ITOCHU will serve as Ener1’s sales, marketing and development partner for both Japanese auto OEM’s and Tier One suppliers. The agreement also sets the stage for ITOCHU to introduce HEV batteries as an energy storage solution for the solar power market.
“Today’s announcement marks … Read the rest
Enerdel has a new Chief Technology Officer, Cyrus Ashtiani. Ashtiani comes with a glowing set of qualifications: 14 years of experience, 11 patents in the industry, and a wealth of experience that includes putting the first lithium-ion battery into a hybrid vehicle.
From Ener1’s press release, here is Dr. Ashtiani commenting on why he’s joining forces with Ener1, as well as more information about his accomplishments:
… Read the rest"This is a vital time for the industry.
Think City just announced that it has received a $5.69 million bridge loan from investors, saving it (at least for now) from bankruptcy. Not surprisingly, the majority of the money is coming from Ener1.
Ener1 has a $70 million battery supply contract with the troubled electric car company. Will the financing help? Reuters quotes a written statement from Think:
… Read the rest"The financing will allow Think to focus its efforts towards the next stages of the restructuring