Constant innovation is a leading watchword at Galenfeha, an established player in chemical injection automation and measurement for the oil and gas industry, as well as in advanced lithium iron phosphate (LiFePO4) battery systems for both large-scale oilfield applications and the commercial NEV (neighborhood electric vehicles like golf carts) market. The recent acquisition of highly accurate chemical injection pump maker Daylight Pump, which is known for their SCADA-based iWAV system, has paved the way for incorporating the company’s advanced battery technologies directly into their portfolio of injection platforms, which includes their DLP-P (pneumatic) and DLP-S (solar powered) systems. This move will not only help cement the company’s battery technology further, but also increase overall brand presence within the oil and gas industry, and ultimately help the company expand further into the production end of the sector.
Galenfeha is right where the action is too when it comes to the oil and gas industry, with corporate offices in Fort Worth, Texas, where, despite slumping oil prices that dropped to around $47/bbl in March before beginning their ongoing recovery (WTI is currently trading in the $58 range), the state actually surpassed 2014 production figures for January of this year, bringing in more than 74.7 million barrels, an increase of over 2.4% YOY. Oil output actually surged towards the end of last year as well, seemingly defying lower oil prices which were then around $53/bbl, with production up to the highest levels for December 2014 that have been seen in the state since the 1970’s – that’s Texas for you, everything is always bigger in the Lone Star State. The Company’s manufacturing facility is also in the heart of the industry, located in Shreveport, Louisiana, where the oil and gas industry is on track to surpass 2 million jobs this year according to economists at the Baton Rouge Business Report (BRBR), with another 32.6k jobs projected to be added next year. The oil and gas sector has been responsible for over $103 billion in CAPEX across a variety of industrial projects and BRBR projections indicate that over 2.7k jobs will be added in the Shreveport market alone through 2016.
There is rapid uptake of the company’s battery technology outside the oil and gas sector, where the environmental benefits of their cobalt-free, powerful, safe and yet long-lasting batteries, realized in a 40AH unit and a “powerhouse” 120AH 12V battery, have met with enthusiastic reception in the NEV market. But the response hasn’t really been surprising given the performance characteristics of the company’s battery technology, which has long since proven itself in the oilfield industry where extremely daunting requirements, like the ability to withstand vibration, high temperatures, and extended/continuous operation, have already validated the technology’s efficacy, as well as the company’s innovative designs.
It is often said that a picture is worth a thousand words and a recent tweet from the company, showing a graph of the performance of an NEV before and after having switched to one of the company’s LiFePO4 (LFP) units says a great deal about just why people are flocking to these powerful, safe, and robust batteries. Another major reason for Galenfeha’s rapid uptake within what is an approximately $524 million domestic NEV market, according to recent research published by IBISWorld, is the company’s cutting-edge battery management system (BMS) technology and their constant work to continue innovating in this area. Beyond the rock-solid benefits of LFP electrochemistry, which is inherently safer than typical lithium ion batteries using cobalt oxide cathodes, due to the thermal stability of the iron cathodes employed in LFP, Galenfeha’s proprietary BMS intelligently manages the health and safety of the unit.
The BMS monitors temperature, current, voltages and charge levels, while actively protecting the cells from overcharge or discharge during charging, resulting in a longer lifespan for the battery and better overall performance characteristics. Moreover, these batteries are 70% lighter than standard lead-acid batteries, meaning less strain on the NEV motor and increased performance, and yet exhibit greater power density (potential energy draw rate) over the life of the unit due to significantly slower capacity loss. LFP batteries also charge quickly, with a 90% charge efficiency rating that helps to reduce energy bills and these batteries can also be left dormant for extended periods of time without the fear of sulfation, as is often the case with lead-acid batteries, discharging at an incredible sub-10% per year when left idle.
These characteristics make the company’s LFP batteries an ideal choice for various NEV markets like seasonal golf courses, as well as corporate and college campuses, construction sites, or anywhere light NEVs are increasingly being used to get around, including places you might not think about at first, like mining sites. We are talking about a battery system that can use existing OEM charging systems here as well, despite the numerous advantages and intelligent, onboard proprietary BMS. And yet these beauties also provide extremely stable voltage and current delivery to the motor, sporting as much as a 40% increase in total usable voltage.
With Galenfeha planning to move into military vehicle and troop applications in the very near future, spurred on by the ambitious targets set forth by the Department of Defense to not only have 25% of their energy come from renewables by 2025, but also move increasingly towards more of their hardware being hybrid and electric, the company could see a huge revenue vector open up in the near future for their robust, intelligent battery tech. The USS Makin Island for instance, a Wasp-class amphibious assault ship, is the first Navy ship ever deployed using hybrid-electric propulsion and is expected to save some $250 million on fuel over the vessel’s lifecycle thanks to this key design adaptation. Galenfeha’s move to secure MIL-SPEC certification for their battery technology could be the start of something even bigger for the company than their fast-growing NEV expansion, definitely something for investors to keep an eye on moving forward.
Learn more about Galenfeha by visiting www.galenfeha.com
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