OTTAWA, Nov. 21, 2018 (GLOBE NEWSWIRE) -- Braille Energy Systems Inc. (formerly Mincom Capital Inc.) (TSX-V : BES ) (“BESI” or “Braille” or the “Company”) is pleased by the successful results of recent use cases of its GU1R and G30HD batteries being employed as replacements for the standard lead acid batteries supplied in consumer owned Tesla EV vehicles. 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 .
Given the growing shift to all electric and plug-in hybrids, it is surprising that many of these vehicles actually employ lead-acid batteries for starting, lighting and ignition (SLI) functions. It is when they require high voltage “power assist” functions, that they rely on the nickel-metal hydride (NiMH) and Lithium-ion (Li-ion) systems they are better known for.
Best-selling hybrid electric vehicles – such as Ford Fusion – use lead-acid batteries for SLI functions and one of the more prominent, extended-range plug-in hybrids on the market – the Chevy Volt - depends on its lead-acid battery for SLI functions and the control of high voltage contactors. This also occurs at the higher end of the EV brand scale where premium positioned brands, such as Tesla, also employ lead-acid batteries for SLI functions.
Given this trend, the current limitations of lead-acid batteries combined with their long charging times, represent significant challenges to the overall efficiency of these EVs. Typically, these aspects are directly impacted by the presence of the lead-acid batteries. Through the course of normal use, the inherent nature of the lead-acid battery necessitates recharging from the vehicle's onboard lithium batteries. This drain of stored energy has the potential to impact the overall range of the lithium batteries. With the presence of a more efficient, lower cycling lithium battery such as Braille Battery’s GU1R or G30HD models, the onboard batteries are not taxed as a charging source. This results in increased efficiencies and may potentially extend the vehicle range. In the recent use cases, Braille Battery customers reported more efficient charging (approx.10% better) coupled with a longer battery life when compared to the average of 18 months for the supplied lead-acid battery.
Lindsay Weatherdon, President of Braille Battery states that, “These recent use cases further bolster Braille Battery’s belief that our lithium-ion battery products represent a market-ready opportunity for wide spread deployment across the EV marketplace. Not only do the use cases represent net benefits for our customers by improving the overall vehicle experience, but it represents an opportunity for EV companies – such as Tesla – to fully embrace their stated vision of providing the most complete green energy solution for vehicle owners.
About Braille Energy Systems Inc.
Braille Energy Systems Inc. holds an 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