K2 Energy Solutions, Inc. Reports Sufficient Li-Ion Cell Inventory and Manufacturing Capacity In Response to Recent Competitor Bankruptcy Filings
18 Oct, 2012, 07:00 ET
HENDERSON, Nev., Oct. 18, 2012 /PRNewswire/ -- Responding quickly to recent uncertainties in the Li-Ion battery market, K2 Energy Solutions, Inc., a leading developer and manufacturer of proprietary rechargeable lithium iron phosphate-based energy and power cells and battery systems, hastened to assure industry stakeholders and end users that it has both the current inventory and manufacturing capacity to fill any supply-side shortages caused by the recent spate of cell-manufacturer bankruptcies and shutdowns.
"Financial uncertainty is bad news for any industry, but it is even more disruptive in emerging technology markets like electric vehicles and advanced energy storage," said K2 CEO Johnnie Stoker. "Our primary goal right now is to assure our current customers and new customers transitioning to K2 that we have the capability to keep them up and running now and into the future."
According to Mark Stoker, VP of Sales, at K2 we made a conscious decision to "diversify and standardize our product lines to focus on markets where our batteries offer great cycle life, safety, weight and total cost of ownership advantages to our customers instead of relying on extremely aggressive predictions on the growth of the electric car market." The decision to not "put all our proverbial eggs in the trunk of an electric car was largely responsible for the company's present ability to handle essentially any industry-wide supply contingency," Mr. Stoker commented.
"When other companies went virtually 'all in' on electric vehicles, we decided to focus significant R&D efforts on pioneering new applications for our proprietary chemical and structural technologies," Mark Stoker said. "This allowed us to rather quickly develop, market, and begin earning a profit on such innovative products as Zero-Idle systems, Uninterrupted Power Systems, military command and control power supply solutions, and medical equipment power packs while continuing to develop our robust EV and PHEV type solutions through programs like the USABC."
With companies like A123 Systems, Ener1, and Valence in Chapter 11 and International Battery shuttering its factories and liquidating its assets, K2 appears to be the only major manufacturer of advanced lithium iron phosphate (LFP) batteries that is on firm financial footing and operating at a profit. A profit in large part earned through K2's strict adherence to its core principles of bringing the advantages of K2 lithium-ion technology to legacy products as well as developing new markets.
"K2's R&D advances with lithium-ion drop-in lead-acid replacement battery modules will revolutionize the battery market in industrial and consumer products like back-up power, uninterruptable power supplies and motor start applications," Mark Stoker said. "Typically one-third the weight and up to 50% smaller than the batteries they're replacing, they have up to ten times the total life cycle, are heavy-metal free, offer a significantly lower cost of total ownership and a better ROI despite a somewhat higher initial cost. Our recent discoveries along with increased volumes will further lower the costs and increase available stored energy while maintaining safety which will make the LFP value proposition for many applications, including electric vehicles, very compelling."
About K2 Energy Solutions, Inc.
K2 Energy Solutions, Inc. is a leading developer and manufacturer of advanced lithium-ion batteries, cells, packs, modules and systems for a broad range of mobile and fixed energy storage applications. Our customers include electric vehicle makers, utility companies, medical equipment makers, industrial equipment manufacturers and government agencies, among others opting for the safe, clean, cost effective and reliable alternatives to current battery technologies. The company is a privately funded corporation formed and headquartered in Henderson, Nev., with manufacturing and assembly capabilities in the US, Europe and Asia. For more information please visit www.k2energysolutions.com
Forward-looking statements in this news release are made pursuant to applicable "safe harbor" provisions of the U.S. Private Securities Litigation Reform Act of 1995 and applicable securities laws. When used herein, words such as "expect," "anticipate," "estimate," "may," "will," "should," "intend," "believe," "plan" and similar expressions, are intended to identify forward-looking statements. Forward-looking statements are based on estimates and assumptions made by K2 Energy Solutions, Inc. in light of its experience and its perception of historical trends, current conditions and expected future developments, as well as other factors that K2 Energy Solutions, Inc. believes are appropriate in the circumstances.
Contact: Lysle Oliveros | K2 Marketing | 702-478-3590 | [email protected]
SOURCE K2 Energy Solutions, Inc.
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