Earlier today, Oakridge Global Energy Solutions, Inc. (OTCQB: OGES) announced its commercial revenues for the first quarter of 2016. During the period, the company successfully leveraged the momentum created by the commercial launch of its game-changing lithium-ion battery products to record the highest quarterly revenues in its near 20-year history. Oakridge exceeded its previously announced $250,000 revenue guidance, recording a total of $263,427 for the quarter.
“This is a very exciting time to be part of Oakridge,” Steve Barber, executive chairman and chief executive officer of Oakridge, stated in this morning’s news release. “We have, for the first time in company history (which dates back to the 1980’s), generated significant commercial revenues in Q1, 2016, and in doing so have exceeded our guidance of $250,000 in expected Q1 revenues.”
The first quarter of 2016 was filled with major milestones for Oakridge, beginning with the successful launch of production operations from its manufacturing facility located in Palm Bay, Florida. The company also announced the signing of a strategic business alliance agreement with Japan-based Sojitz Machinery Corporation, completed the production release of its Liberty Series motorsports starter battery, distributed the first regular commercial production shipments of its Pro Series golf car battery, entered into a strategic business alliance with Maritime Tactical Systems, Inc., and started a second shift of production operations in order to better meet rising commercial demand.
“We have passed the turning point after our lengthy restructure and transition of the company from an R&D company to a fully-fledged commercial production and manufacturing business and are looking forward to a very successful year in 2016,” continued Barber. “We have some truly amazing products, powerful strategic alliances, and some highly synergistic acquisition opportunities in the queue to be announced in the very near future.”
In the second quarter of 2016, Oakridge will look to build on its strong start to the year by continuing to expand its presence in the global stored energy space. The company plans to begin production shipments of its powerful Freedom IV series of living space power products in the coming months as it continues to develop and refine its existing product line. As part of these efforts, Oakridge has ordered additional high speed automation equipment to aid in manufacturing efforts, and it expects this equipment to be delivered before the end of this year.
With the most transformative quarter since its founding in 1986 now in the books, Oakridge is uniquely positioned to achieve sustainable growth moving forward. Look for the company to continue leveraging its immense intellectual property portfolio and extensive history of design and system innovation in order to deliver the latest in energy storage technology and continue to usher in a new era in battery manufacturing.
For more information, visit www.oakridgeglobalenergy.com
Let us hear your thoughts: Oakridge Global Energy Solutions, Inc. Message Board
