NEW YORK, September 15, 2016 /PRNewswire/ --
The lithium-ion battery market has been on the uptrend in recent years. As the technology and innovation in the sector becomes more prominent, growth is expected to accelerate. A new report from Transparency Market Research shows that the lithium battery market is expected to reach USD 33.11 billion in 2019, growing at a CAGR of 14.4% from 2013 to 2019. Tesla Motors Inc. (NASDAQ: TSLA), Oakridge Global Energy Solutions, Inc. (OTCQB: OGES), Ultralife Corp. (NASDAQ: ULBI), FMC Corp (NYSE: FMC), Sociedad Quimica y Minera de Chile (NYSE: SQM).
The research goes into detail discussing the innovations that have been made in the field. The new technology gives lithium-ion batteries various advantages, such as higher efficiency and longer lifetime comparing to other batteries. Thanks to these improvements, the batteries are in demand to be used in a wider range of applications. An example is the automotive sector, where companies like Tesla Motors Inc. (NASDAQ: TSLA) have raised the bar, which in turn will fuel the growth in the coming years.
Small companies like Oakridge Global Energy Solutions, Inc. (OTC: OGES), have built several battery lines addressing four high-demand target markets - motive applications like electric and hybrid electric vehicles, stationary living space power for domestic, commercial and grid applications, remote control and portable devices, and also starter motor batteries for motorcycles, jet skis, snowmobiles, boats, cars and trucks. Oakridge Global Energy's battery systems comprised of large and small format prismatic lithium cells.
Oakridge Global Energy Solutions, Inc. (OGES) just announced that the company has been selected by Maritime Tactical Systems, Inc., MARTAC, to design new, second generation, more powerful solar powered battery packs for their "MANTAS" range of Unmanned Maritime Vessels, building on the success of OGES' Gen 1 power systems it originally developed for MARTAC during early 2016.
MARTAC is a Melbourne, Florida based company that designs and produces the Man-Portable Tactical Autonomous Systems (MANTAS) which are unmanned surface and subsurface vessels that have numerous applications in port and harbor security patrol, anti-piracy, search and rescue, mine warfare, Anti-Submarine Warfare, ISR and many other military and commercial applications. To see video of the MANTAS unmanned vessels, go to the MARTAC website http://martacsystems.com/MANTAS.aspx .
MARTAC's enormous success at RIMPAC 2016, the world's largest international maritime exercise hosted by the U.S. Pacific Fleet, encouraged the company to approach OGES Executive Chairman and CEO Steve Barber, to see if his team could design a new second generation solar powered Lithium-ion battery pack using Oakridge's revolutionary Gen 2 Smart Energy Cell Technology. "The design specifications for the Gen 2 MANTAS battery packs are exactly the sort of challenge the Oakridge team thrives on," Barber stated. "The real beauty of this project is that we can now integrate our Gen 2 Smart Energy Cell Technology into the design specifications, so we can give MARTAC a high performance, long reliability, ultra-safe combination Lithium-ion battery pack, with a compact solar panel attached on top, that will remain continuously charged."
Ultralife Corp. (NASDAQ: ULBI) consists of two different business sectors: Battery & Energy Products and Communications. Ultra has developed Lithium Carbon mono-fluoride Manganese dioxide hybrid cells, which provides the advantages to increase performance when it comes to high capacity, energy density, discharge rate, long shelf life and enhanced functionality based on temperature. The Battery & Energy Products segment includes lithium 9-volt, cylindrical and various other non-rechargeable batteries.
Lithium-ion batteries are still most widely used in our portable devices, but as demand for other applications growth companies start to diversify Companies like FMC Corp (NYSE: FMC) and Sociedad Quimica y Minera de Chile (NYSE: SQM) have benefited from the new applications of lithium batteries. FMC is consistently innovating in this field, to find better ways to meet world's growing demand for longer lasting batteries for tablets, phones, power tools, and now for EV cars and even power plants. Sociedad Quimica y Minera de Chile produces industrial chemicals like iodine and lithium, and claims that it is the world's largest lithium producer. Recently the company grabbed the opportunity to produce in Argentina, as the new local government opens its reserves. The company agreed to pay $25 million to Lithium Americas Corp. for 50% of Minera Exar, which owns a project in northern Argentina. This is a project that may, according to local studies, produce 40,000 metric tons of a year for more than 30 years.
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