John Petersen

10 Green Energy Gambles for '09

My goal as a Seeking Alpha author is to add some clarity to the energy storage sector, which is full of risk, opportunity and confusion. I firmly believe the job of selling Axion belongs to management and not me. Nevertheless, I do own the stock and think it's an important player.

To put some flesh on Axion's financial position, they had $8 million in cash at September 30th, which works out to about a year's burn at past rates. On a go forward basis, there is a $1.5 million grant, a firm order for about $6 million in lead-acid batteries and hopes that lead-acid sales will ramp up significantly this summer. My murky crystal ball would predict another raise later this year or early next to finance expansion, but Axion should have substantial revenue before it needs money.