Earlier today, Oakridge Global Energy Solutions, Inc. (OTCQB: OGES) announced a partnership with Minnesota-based Freedom Trucking through which the company will develop and supply batteries to power fully electric interstate trucks. Prior to this agreement, Freedom Trucking spent the past five years working with Ohio State University scientists and other parties in order to develop a groundbreaking, fully electric interstate truck propulsion system that’s expected to enable trucks with a gross vehicle weight of up to 80,000 pounds to travel more than 400 miles on a single charge. However, the product’s development and testing has thus far been hampered by poor quality Chinese batteries.
Beginning in the second half of this year, Freedom Trucking will look to leverage Oakridge’s innovative, ‘Made in the USA’ battery systems in order to move product from Chicago to Minneapolis. Following implementation, the fully electric trucks are expected to provide cost savings in excess of $0.60 per mile, as compared to trucks powered by traditional diesel fuel, according to an initial analysis performed by the U.S. Department of Transportation. These savings are expected to revolutionize the economics of the interstate trucking business in the United States.
“The custom battery design for Freedom Trucking is an absolute game changer,” Steve Barber, executive chairman and chief executive officer of Oakridge, stated in the news release. “With our new custom battery systems, we have now greatly expanded the effective range of the electric truck, now making them a practical reality for immediate application to the interstate trucking business, while at the same time providing a much safer, low maintenance vehicle by virtue of the more robust chemistry and the battery management systems we have designed for this product.”
Since entering into full scale production on January 4, 2016, Oakridge has wasted no time in establishing a sizable presence in the stored energy industry. Last month, the company announced an agreement with Maritime Tactical Systems, Inc. (MARTAC) to provide battery systems for its Man-Portable Tactical Autonomous Systems (MANTAS), and, earlier this week, Oakridge announced that field trials of the MANTAS (powered by custom-tailored Oakridge technology) for a major defense contractor were a huge success. As it continues to meet and exceed expectations with its high-quality energy storage products, Oakridge appears to be primed for tremendous growth in the months to come.
“We at Oakridge are continuing our mission to onshore manufacturing back to the U.S. and this is a really big win for all of us,” continued Barber. “This is a tremendous win for everyone in the USA.”
For more information, visit www.oakridgeglobalenergy.com
