In September, Oakridge Global Energy Solutions took a significant step toward completing its corporate restructuring efforts when it announced that it had moved into a new facility for corporate offices and small format cell manufacturing. The 68,718-square-foot facility is expected to provide the company with the space needed to increase production of its small format lithium cells from 250,000 per year to roughly 25 million per year. Over the next 18 months, Oakridge plans to ramp up its operations and install more than 2.6 gigawatt-hours of production capacity utilizing electrodes, cells and batteries proudly built in the United States.
“We have completed the restructure, have taken the brakes off and are moving ahead full speed,” Steve Barber, executive chairman and chief executive officer of Oakridge, stated in a news release. “We are very pleased with the new corporate facility. The city of Palm Bay, Florida, has made us feel very welcome and we look forward to a very good long term relationship.”
In addition to the production capacity provided by its new facility, Oakridge will look to leverage the marketability of its strong intellectual property portfolio. Since its founding in 1986, the company has carved out a foothold in the stored energy market by offering a full range of energy storage solutions – including battery management systems, golf cart batteries, radio controlled vehicle batteries, pressure tolerant cells and batteries for power tools and lawn care equipment. Today, Oakridge is positioning itself to simultaneously deliver innovation and build an industrial scale platform that includes technologies optimized to address multiple key markets.
“Our business plan is simple; we provide high quality, competitively priced American made products to the consumer market,” Barber concluded.
With its previous 12,000-square-foot manufacturing facility now firmly in its rearview mirror, Oakridge is in a strong position to increase its output while expanding its position in the global stored energy market. For prospective shareholders, this move is yet another reason that Oakridge is an incredibly intriguing investment opportunity in the months to come. As the company continues to progress toward the impending commercialization of its innovative ProSeries and Patriot Series product lines, its new corporate headquarters, as well as its expanded manufacturing facilities on Florida’s Space Coast, will undoubtedly play a key role in future growth.
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