Oakridge Global Energy Solutions, Inc. (OTC: OGES) is in the business of using top-of-the-line technology to manufacture highly innovative energy storage solutions across the United States. As a ‘Made in the USA’ manufacturing company, OGES’s strategy of execution is as simple as it is effective: develop, manufacture and sell products.
The company’s products include lithium-ion large format prismatic cells, small format prismatic cells, and battery modules, which are distributed through a highly focused business development and sales team. The company’s innovative ‘Made in the USA’ product line, comprised of multiple lithium-ion chemistries, technologies and form factors (or shapes) that address multiple high-demand target markets, is a stand-out offering in the manufacturing business that leads the onshoring movement of bringing jobs and manufacturing back to the USA.
Manufacturing products of this caliber calls for an equally high level of manufacturing capacity and sophistication. Through the majority ownership of Oakridge by Precept Fund Management SPC, Oakridge CEO Steve Barber funded the creation of a full-scale manufacturing facility for Oakridge, a significant upgrade from the company’s previous 12,500-square-foot-facility.
In October, Oakridge unveiled the new, 68,718-square-foot facility in Brevard County, Florida, in Melbourne and Palm Bay. The sprawling plant houses Oakridge’s corporate offices and manufacturing plant, and it is part of the company’s ongoing $270 million investment in corporate growth, which also includes the planned purchase of a significant amount of additional manufacturing equipment, as well as continued product development and innovation.
Precept’s investment in Oakridge’s facility has already triggered a positive effect, contributing to the company’s third-quarter results (total assets exceeded $76.0 million while liabilities were reported at slightly more than $2.75 million).
“Our third-quarter results reflect the significant investment that Precept has made into this exciting business,” said Barber. “From development of products to purchase of manufacturing equipment, this business is now fully operational and poised for growth.”
Over the next 18 months, Oakridge has outlined plans to continue to strengthen its balance sheet and ramp-up and install more than 2.6 gigawatt-hours of production capacity. The focus of the ramp-up and installation will be on manufacturing electrodes, cells and batteries in the company’s new facility.
For more information, visit www.oakg.net
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