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Patrick Young

 
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  • Axion Power Concentrator 362 Sep. 01 '14: EPower & Axion Present At The Battery Show; 10-Q For Q1 2014; S-1 For $15MM Share Issuance; Changed Loan, IP-Secured MDA [View instapost]
    First!
    Sep 1 09:35 AM | 3 Likes Like |Link to Comment
  • Axion Power Concentrator 361 August 28 '14: 10-Q For Q1 2014; S-1 For $15MM Share Issuance; Changed Loan, IP-Secured MDA; David DiGiacinto Appointed Chairman And CEO [View instapost]
    The reason I am concerned about this is that unlike the CA initiative, this RFP clearly lays out that MW, not MWh are the important metric for them because they anticipate (by 2017) requiring 200 MW of fast (<20 min) contingency and frequency regulation reserve capacity from "advanced-lead-acid or lithium-ion". If we assume that both PbC and UltraBattery will beat Li-ion in the $/MW category, and HECO awards the contract for the "advanced lead-acid" to UltraBattery, that is a 200 MW loss to Axion Power. Nothing to shake a stick at or say it is a drop in the bucket of the potential market. It would be a huge loss.

    Jp> let me ask you directly: What should Axion Power do if HECO awards 200 MW of storage to the UltraBattery?

    I don't think they're looking for pilot projects. They make it clear that they will need the 200 MW up and running by 2017. That's basically the construction time required so the technology needs to be ready to ship.
    Aug 29 09:17 AM | 4 Likes Like |Link to Comment
  • Axion Power Concentrator 361 August 28 '14: 10-Q For Q1 2014; S-1 For $15MM Share Issuance; Changed Loan, IP-Secured MDA; David DiGiacinto Appointed Chairman And CEO [View instapost]
    They can meet the requirements if they say so. HECO seems to get their info about lead-carbon batteries directly from CSIRO's website so I wouldn't put much stock in HECO's ability to fact check.
    Aug 29 08:55 AM | 7 Likes Like |Link to Comment
  • Axion Power Concentrator 361 August 28 '14: 10-Q For Q1 2014; S-1 For $15MM Share Issuance; Changed Loan, IP-Secured MDA; David DiGiacinto Appointed Chairman And CEO [View instapost]
    The intent of the project is to provide less-than-30-minute smoothing, so PbC is perfectly suited to provide a lot of MW capacity for not a lot of $. The question becomes, does UltraBattery just barely undercut us in price, and Hawaiian Electric doesn't see a difference between the two "advanced-lead-acid ultracapacitor batteries". If so, I am going to ____ a whole house of bricks, pack up my stuff and camp out in front of Axion headquarters until somebody sues CSIRO.
    Aug 29 08:41 AM | 5 Likes Like |Link to Comment
  • Axion Power Concentrator 361 August 28 '14: 10-Q For Q1 2014; S-1 For $15MM Share Issuance; Changed Loan, IP-Secured MDA; David DiGiacinto Appointed Chairman And CEO [View instapost]
    If Ultrabattery wins the HECO contract I think that would be reason enough to sue.
    Aug 29 08:16 AM | 4 Likes Like |Link to Comment
  • Axion Power Concentrator 361 August 28 '14: 10-Q For Q1 2014; S-1 For $15MM Share Issuance; Changed Loan, IP-Secured MDA; David DiGiacinto Appointed Chairman And CEO [View instapost]
    "Proposals were received on July 21, 2014. The proposals are currently under review and
    in order to protect the integrity of the RFP process cannot be discussed here in detail. However, generally the proposals received included lead-acid batteries, several forms of lithium-ion batteries, flow batteries, pumped-storage hydroelectric and mechanical flywheels. Pricing proposals are generally consistent with the PSIP assumptions detailed above.

    Hawaiian Electric intends to evaluate these proposals, and if cost and technical requirements are met, make an award on or about August 29, 2014."

    "Lead-acid batteries, lithium ion and flow batteries are considered for Hawai‘i and are discussed below."

    "Conventional lead-acid batteries are characterized by low energy density (the amount of energy stored relative to the mass of the battery), relatively high maintenance requirements, and short life cycles. Their principle advantage is the ability to deliver high current over long duration
    timeframes. Disposal of lead-acid batteries presents environmental considerations, but
    recycling techniques are well established.
    Advanced lead-acid batteries or “UltraBatteries” are now reaching the market. UltraBatteries combine conventional lead-acid batteries with electronic ultra-capacitors toprovide high duty cycles. The supercapacitor enhances the power and lifespan of the lead-acid battery, acting as a buffer during high-rate discharge and charge. This makes the UltraBattery a low cost, durable battery technology, with faster discharge/charge
    rates and a life cycle that is two to three times longer than a regular lead-acid battery (reference Ultrabattery website)."
    Aug 29 08:03 AM | 4 Likes Like |Link to Comment
  • Axion Power Concentrator 361 August 28 '14: 10-Q For Q1 2014; S-1 For $15MM Share Issuance; Changed Loan, IP-Secured MDA; David DiGiacinto Appointed Chairman And CEO [View instapost]
    Something about Axion being involved in 48V mild hybrid diesel engines is discussed in the last paragraph. Many question marks with this company, few answers.
    Aug 28 11:07 PM | 7 Likes Like |Link to Comment
  • Axion Power Concentrator 361 August 28 '14: 10-Q For Q1 2014; S-1 For $15MM Share Issuance; Changed Loan, IP-Secured MDA; David DiGiacinto Appointed Chairman And CEO [View instapost]
    Who knows Stefan, we may already be on the list.
    Aug 28 01:16 PM | 4 Likes Like |Link to Comment
  • Axion Power Concentrator 360 August 22 '14: 10-Q For Q1 2014; S-1 For $15MM Share Issuance; Changed Loan, IP-Secured MDA; David DiGiacinto Appointed Chairman And CEO [View instapost]
    Even if we can't prosecute the grievance yet I'd like some reassurance from an expert or the company's counsel that the IP is probably infringed by the UB design. This is the definition of a ripoff. My favorite concept in law is that something is "arbitrary". for example, the inclusion of any small amount (1%, 2%, 10% etc) of Pb plate to a carbon electrode is arbitrary and that the intent and substance of the product construction is a Pb-carbon assymettric supercapacitor and directly infringes on Axion IP.
    Aug 25 04:49 PM | 8 Likes Like |Link to Comment
  • Axion Power Concentrator 360 August 22 '14: 10-Q For Q1 2014; S-1 For $15MM Share Issuance; Changed Loan, IP-Secured MDA; David DiGiacinto Appointed Chairman And CEO [View instapost]
    Very good paper about EROI: http://bit.ly/1sq7mcz

    "No direct LCA (lifetime cycle assessment) studies could be found for storage systems but pump storage systems are very similar to hydro electricity plants with storage capabilities."
    Aug 25 01:09 PM | 4 Likes Like |Link to Comment
  • Axion Power Concentrator 360 August 22 '14: 10-Q For Q1 2014; S-1 For $15MM Share Issuance; Changed Loan, IP-Secured MDA; David DiGiacinto Appointed Chairman And CEO [View instapost]
    D Lane> It seems to me that all else being the same, switching to a 48V system is done simply to be able to draw more power for electric systems on board from the battery+generator while not using larger wires to handle higher currents. Increasing voltage reduces the cost of wiring.

    Again, all else being equal, if you need high Power and can sacrifice a bit on total energy, then PbC excels versus lead-acid and Li-ion.

    Additionally, by switching to 48 Volt systems, they need to make significant changes to the battery system. This removes a good deal of the inertia faced by Axion with the OEM's.

    Finally, making the move to 48V allows them to produce vehicles with electrical systems that start/stop the engine frequently and enable mild hybrids where HRPSOC cycling of a battery is required. In these applications, the PbC will have a significant performance advantage over both lead-acid and Li-ion.

    So yes, any switch to 48V by an OEM is a plus for PbC.
    Aug 25 11:59 AM | 11 Likes Like |Link to Comment
  • Axion Power Concentrator 360 August 22 '14: 10-Q For Q1 2014; S-1 For $15MM Share Issuance; Changed Loan, IP-Secured MDA; David DiGiacinto Appointed Chairman And CEO [View instapost]
    >iindelco Nice Find!
    Aug 23 07:32 AM | 2 Likes Like |Link to Comment
  • Axion Power Concentrator 360 August 22 '14: 10-Q For Q1 2014; S-1 For $15MM Share Issuance; Changed Loan, IP-Secured MDA; David DiGiacinto Appointed Chairman And CEO [View instapost]
    Mr. Holty>The IRR quoted in that letter of 20.2% is not so far off from 28%. I would say in the same ballpark.
    Aug 22 06:34 PM | 2 Likes Like |Link to Comment
  • Axion Power Concentrator 360 August 22 '14: 10-Q For Q1 2014; S-1 For $15MM Share Issuance; Changed Loan, IP-Secured MDA; David DiGiacinto Appointed Chairman And CEO [View instapost]
    The discount rate is the rate that the purchaser would pay to finance the project, not Axion. It is not attractive to Axion because they cannot finance at 3.125% but they can sure as heck use some solid sales for cash.
    Aug 22 06:30 PM | 3 Likes Like |Link to Comment
  • Axion Power Concentrator 360 August 22 '14: 10-Q For Q1 2014; S-1 For $15MM Share Issuance; Changed Loan, IP-Secured MDA; David DiGiacinto Appointed Chairman And CEO [View instapost]
    I also note that the most recent decline in price from $0.13 to $0.09 began on July 24, which is a FINRA short interest reporting due date.

    The new terms with Mr. Averill and the PIPE came August 4 (a Monday), which put a bottom in at $0.086.

    This leads me to believe that John Petersen is correct in stating that the FINRA data is informative about the direction of the stock price going forward and that the PIPE was to blame for the beaten down price and that the most recent changes to the warrants are to tie their hands until the skies clear.
    Aug 22 03:32 PM | 6 Likes Like |Link to Comment
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