OTTAWA, Nov. 12, 2018 (GLOBE NEWSWIRE) -- Braille Energy Systems Inc. (formerly Mincom Capital Inc.) (TSX-V : BES) (“BESI” or “Braille” or the “Company”) is pleased to announce its selection as the OEM Lithium Battery Supplier for a Major Military Vehicle Manufacturer. Braille Battery Inc. is owned 100% by Braille Holdings Inc. and BESI, formerly Mincom Capital Inc., purchased 89.95% equity interest in Braille Holdings Inc. For more details on the transaction, please refer to www.sedar.com.
As more military land vehicles become dependent on technology onboard, their electrical demands inherently increase. With this increased demand, the conventional energy solutions become less attractive over the vehicle’s life cycle. Insufficient electrical energy storage can hinder operational performance when conducting engine-off operations and traditional batteries with low energy capabilities tend to last for short periods and will have to be regularly recharged.
While most cars and commercial vehicles also experience increased energy demands with new technologies onboard, military land vehicles carry a unique set of requirements. Batteries on these vehicles require high energy for off-engine (or ‘silent watch’) energy needs and must deliver high power for engine starting and load levelling. Additionally, they must also demonstrate an ability to withstand harsh environmental conditions along with the capacity to meet future energy demands.1
Given all of this, the current limitations of lead-acid batteries combined with their long charging times represent significant challenges to the energy demands of off-engine (or silent watch) operations in military land vehicles. Braille Battery’s proven track record of supplying innovative battery solutions for high-performance vehicles was critical to its approval as an OEM Lithium Battery supplier for a military vehicle manufacturer.
Lindsay Weatherdon, President of Braille Battery states: “This is an exciting opportunity to showcase the innovations that we have put into developing – what we believe – are industry leading battery technologies. From innovations such as our Fleet 31, to further innovations in batteries to power commercial drones, we are happy to now bring our experience into powering the next generation of military land vehicles into tomorrow.”
About Braille Energy Systems Inc.
Braille Energy Systems Inc. holds a 89.95% equity interest in Braille Holdings Inc., which holds a 100% equity interest in Braille Battery Inc. Braille Battery is an established battery-manufacturing and energy storage company supplying batteries to the professional motor sports industry and the pioneer of a complete line of lightweight high powered battery systems for the transportation market. Braille Energy Systems (BESI) will expand its market penetration into a wider range of market segments that require lightweight, high-performing energy solutions, using the most scientifically advanced materials.
Markets need better performing energy storage solutions to satisfy the huge growth expected in many different sectors like electric vehicles, solar and wind energy storage as well as portable electronic devices. With two manufacturing locations in North America, BESI will provide customers with security of supply, off-the-shelf shipments and superior service.
BESI will penetrate key market segments with superior product performance utilizing graphene based materials.
Disclaimer & Forward Looking Statement
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Certain information included in this press release is forward-looking and may involve risks and uncertainties. The results or events predicted in these statements may differ materially from actual results or events. Factors that might cause a difference include, but are not limited to, competitive developments, risks associated with BESI's growth, the state of the financial markets, regulatory risks and other factors. Forward-looking statements included or incorporated by reference in this press release include statements with respect to proposed terms of the private placement transaction. There can be no assurance that any statements of forward-looking information contained in this release will prove to be accurate. Actual results and future events could differ materially from those anticipated in such statements. These and all subsequent written and oral statements containing forward-looking information are based on the estimates and opinions of management on the dates they are made and expressly qualified in their entirety by this notice. Unless otherwise required by applicable securities laws, BESI disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise. Readers are cautioned not to place undue reliance on any statements of forward-looking information that speak only as of the date of this release. More detailed information about potential factors that could affect BESI's financial and business results is included in public documents BESI files from time to time with Canadian securities regulatory authorities and which are available at www.sedar.com.
Contact:
Braille Energy Systems Inc.
Judith Mazvihwa-MacLean
CFO
613-581-4040
jmazvihwa@mincomcapital.com
- https://www.dst.defence.gov.au/publication/review-battery-technologies-military-land-vehicles