Re: Probably for the better they don't take on more debt yet
in response to
by
posted on
Aug 09, 2024 01:12PM
(Edit this message through the "fast facts" section)
Yes, Out of almost nothing, this family has created a company that is doing pretty well selling their expensive NMC battery into the materials handling industry at a profit. I guess it is because there have been no safety issues (fires) that it even sells. Or it could be it sells because it is so energy dense and will operate in cold storage buildings. Anyway customer demand has them now fielding an LFP cell that costs less to manufacture. This should broaden the customer base. It will also aid in establishing a new vertical ESS with the potential to more thn double the annual revenue. Annual revenue for this year is projected to be around $60 Million. We are now waiting on 3rd quarter revenue to be released. Other companies (Flux) have seen a reduction in revenue due to the overall economy. Will this also be displayed in Electrovaya's 3rd quarter results?