Clearwater, FL, October 2, 2012 -- Like a handful of other relatively small-sized energy companies such as A123 Systems Inc. (NASDAQ: AONE) and Exide Technologies (NASDAQ: XIDE) to name just two), BLQN understands that electric vehicles are only a part of the story and a fraction of the market.
Balqon Corporation (OTC.QB: BLQN), a developer and manufacturer of zero-emissions heavy-duty electric vehicles, lithium battery energy storage products and drive systems, compares to companies such as A123 Systems, Inc. (NASDAQ: AONE) and Exide Technologies (NASDAQ: XIDE) Exide Technologies engages in the manufacture and supply of lead-acid batteries for transportation and industrial applications.
There is a well known belief among economists and scientists alike that the only thing that never stops moving forward is technology. In today’s markets, truer words were never spoken. Technology continues to boom, shifting the focus of investors to new markets which, only five or ten years earlier, would have never even sparked their interest. One of the most prominent of these fast-growing markets is that of lithium battery energy storage, Balqon’s shift into this market poises the company for growth opportunity.
The global lithium battery market is expected to rise at a steady rate of nearly 14 percent each year through 2015. Scientists predict that the cost of manufacturing lithium batteries will drop dramatically over the next several years. In addition, one study even shows that, because of the increasing popularity of hybrid and electric vehicles, by 2015, the automobile industry will overtake the computer industry (the most popular items to use lithium batteries right now are laptops) as the largest consumer of lithium-ion batteries in the world.
Given these statistics, it makes sense that the new leaders in lithium battery storage market will be companies developing possessing a keen understanding of the electric vehicle market. Few companies in this diverse market are as well poised to capitalize on the lithium battery surge as Balqon Corporation.
Currently trading at .47 with a market cap of 17.71M, Balqon (OTC.QB: BLQN), was founded in Orange County, California in 2005 as a developer and manufacturer of proprietary electric drive systems for electric trucks, tractors, buses, and utility vehicles. The company quickly struck a deal with the Port of Los Angeles to develop the world’s first zero-emission electric tractors to move 30 ton containers at marine terminals. Since its inception, Balqon has pioneered an entire line of heavy duty zero emission electric vehicles to haul heavy freight at marine terminals, warehouses and inner cities.
After several years of making a name for itself as one of the most innovative manufacturers of electric vehicles, Balqon (OTC.QB: BLQN) introduced Lithium Iron Phosphate technology, equipped with its own proprietary BMS (Battery Management System) and fast charge technology, to increase the range and efficiency of its vehicles.
Balqon (OTC.QB: BLQN) has surged ahead as an industry leader in the development of new battery storage technologies. In a stunning display of technology, earlier this year Balqon installed its one Megawatt Hour storage system at the Bourns College of Engineering building located at the University of California, Riverside campus, providing renewable energy to the building. And more recently, Balqon released an entire series of new high capacity lithium batteries called HIQAP, designed as a replacement to the current lead acid battery technology, with 22% greater transfer efficiency than its predecessor.
Refusing to rest on its laurels, last week Balqon announced an expansion on its HIQAP series, called HIQAP-GS, which will be specifically used as a replacement of lead acid battery pack used in electric powered airport baggage tractors. Speaking to the value of the new products, Balqon CEO Balwinder Samra was quoted as saying: “We believe longer range, ability to fast charge vehicles, and the longer life of the HIQAP-GS will help airlines in adopting zero emission technologies to reduce operating and maintenance costs.”
In diversifying its technology focus from electric vehicles to proprietary lithium battery energy storage devices, Balqon is a provider to multiple renewable energy industries - from urban transportation, to cargo vehicles, to commercial buildings and now airports. With a foundation and experience in electric vehicles, Balqon Corporation has set its sights on the unprecedented market potential of lithium batteries in energy storage market, and in doing so, has begun to lay the groundwork in renewable energy markets that could be the wave investors ride in the future.
About Balqon Corporation
Headquartered in Harbor City, California, Balqon Corporation is a leading developer of zero-emissions electric drive systems, lithium battery storage systems and medium to heavy-duty electric vehicles. Balqon electric vehicles and drive systems are marketed globally to companies, governments and municipalities looking for viable and effective ways to reduce their vehicle maintenance and operating costs and lower carbon emissions. Balqon is recognized as a pioneer in commercial electric vehicle technology and development of energy efficient transportation solutions. For more information, please visit http://www.balqon.com/store.php. Balqon Corporation's common stock trades on the OTC Bulletin Board under the symbol "BLQN." Follow us on Twitter @hiqapbattery or http://twitter.com/hiqapbattery or visit our Facebook page at: http://www.facebook.com/hiqap.
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Safe Harbor Statement Under the Private Securities Litigation Reform Act of 1995
With the exception of historical information, the matters discussed in this press release, including without limitation, the economic and commercial viability of Balqon Corporation's vehicles, including the HIQAP(TM); whether the HIQAP(TM) will be lower in cost than lead acid batteries; whether the HIQAP(TM) will provide its users with lower operating costs than the operating costs incurred by users of deep cycle lead acid batteries are forward looking statements that involve a number of risks and uncertainties. The actual future results of Balqon Corporation could differ from those statements. Factors that could cause or contribute to such differences include, but are not limited to, market acceptance of the Balqon's technologies and solutions; unforeseen technical issues; Balqon Corporation's ability to attract sufficient capital and labor to manufacture its products; the ability of Balqon Corporation to attract and retain talented individuals; adverse economic and market conditions; the projected future demand for Balqon Corporation's products, including the changes in technology and governmental regulations and policies; and other events, factors and risks previously and from time to time disclosed in Balqon Corporation's filings with the Securities and Exchange Commission, including, specifically, those factors set forth in the "Risk Factors" section of Balqon Corporation's most recent Annual Report on Form 10-K filed with the Securities and Exchange Commission.
SOURCE: Seraphim Strategies