It’s being announced this morning that EnerDel (HEV) has participated in a Tokyo smart grid project scheduled to come online in a few months. The project involves several companies from around the world including EnerDel, Mazda and Itochu Corp (EnerDel’s sales/marketing partner in Japan and long time investor) and aims to construct a complete smart grid marrying the components of electric vehicles and solar power.
EnerDel has outfitted Mazda vehicles with its lithium batteries along … Read the rest
Think Global has been on its last legs, but is emerging from bankruptcy with a total cash infusion of $47 million from various investors including partner Ener1 (HEV). Ener1 will invest an additional $18 million in the company and convert an additional $3 million in debt for preferred shares, giving the company a 31% stake in the company and securing its spot as lead investor in the company.
As part of the deal, Ener1 receives … Read the rest
Yesterday MDB Capital downgraded EnerDel (HEV) from Buy to Hold based on valuation.
Hat tip to Street Insider
MDB analyst says, “We believe that the company is continuing to build a solid pipeline of potential customers including the possible reemergence of Think Global. This pipeline (including Fisker Automotive) will likely provide the company with significant revenue growth beginning in the back half of calendar 2009. We are maintaining our earnings model for calendar 2010 with … Read the rest
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
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