Axion Power International's CEO Discusses Q1 2013 Results - Earnings Call Transcript [View article]
I have obviously done my research – and can EASILY provide links Perhaps you would like to do some of your own, but here are a few You should see what EXIDE says:
In August 2009, we were awarded a grant by the DOE of approximately $34 million to increase our AGM manufacturing capacity. These AGM batteries are designed for stop/start, micro-hybrid and no-idle vehicle applications, and enable improved fuel efficiency to reduce CO2 emissions. Our total investment, including the DOE grant, will be approximately $70 million for expansion of our Columbus, Georgia and Bristol, Tennessee facilities. Additionally, we received tax incentives from the State of Georgia and Tennessee of approximately $9.3 million and approximately $6.0 million, respectively. As a result of these grants and incentives, we expect to expand battery production capacity by about 1.5 million batteries per year. These investments are expected to be completed by the end of calendar year 2012.
Here Is what Axion says: http://bit.ly/19SoP2V On August 5, 2009, the United States Department of Energy announced that “Exide Technology with Axion Power International” was awarded a $34.3 million grant for the production of advanced lead-acid batteries using lead-carbon electrodes for micro and mild hybrid applications under a program to accelerate the Manufacturing and Deployment of the Next Generation of U.S. Batteries and Electric Vehicles. As of the date of this report, it is still not determined what portion, if any, of this grant will be awarded to or indirectly made available for the benefit of the Company.
• You do realize Axion apparently did not get one penny from the “grant”.
HEres some more for you: On December 22, 2009, the Pennsylvania Energy Development Authority awarded us a $248,650 grant to assist us in the development and deployment of an Axion PowerCube™ battery energy storage system using our PbC battery technology. The 500 kilowatt PowerCube will be built and installed at our New Castle battery manufacturing facility and will be designed to enhance a Smart Grid electrical distribution system, that will potentially include a future solar-powered electric vehicle charging station and a potential wind-powered energy system. We have begun design work on this project.
On June 16, 2010, Axion Power Battery Manufacturing, Inc. received a $298,605 solar energy program grant to assist with solar power energy storage research and development. This grant, along with proceeds from the December 22, 2009 Pennsylvania Energy Development Authority award will contribute funding to our development program with an estimated total project cost of $1 million.
On May 11, 2010, we were awarded a federal contract number N00014-10-C-0094 for the development of new lightweight, high-powered batteries for use in vehicles operated by the U.S. Marine Corps.
We had 26,417,437 shares of common stock outstanding at December 31, 2008, On October 6, 2008, the Company received notice that it was the recipient of a federal grant for the development of new lightweight, high-powered batteries for use in vehicles operated by the U.S. Marine Corps. The first year, of an anticipated ongoing three year grant, provides $1,200,000 to us for the project Grants from Commonwealth of Pennsylvania: On April 30, 2007, the Company was awarded a series of retroactive grants from the Commonwealth of Pennsylvania with an aggregate value of $1.2 million. Grants for $900,000 were specifically designated for equipment purchases and the remaining $300,000 for job training and tax credits. The $150,000 Opportunity Grant Program grant requires the Company to hire 86 full-time employees by March 31, 2009, spend a total of $6,492,300 of non-public funds as part of the company’s operating expenses and equipment purchases by March 31, 2009 and maintain an operation in Neshannock Township through March 31, 2011. On February 5, 2009, the Company received a pair of grants from the Advanced Lead-Acid Battery Consortium, the leading industry association made up in part by the largest companies supplying the world’s battery market. The pair of grants totals approximately $380,000 and will help support research into two key areas. (1) The first grant seeks to identify the mechanism by which the optimum specification of carbon, when included in the negative active material of a valve-regulated lead-acid battery, provides protection against accumulation of lead sulfate during high-rate partial-state-of-charge operation. (2) The second grant seeks simply to characterize Axion’s proprietary PbC™ battery in hybrid electric vehicle (HEV) type duty-cycle testing. The grants are administered through the Durham, NC-based International Lead Zinc Research Organization acting on behalf of the ALABC. The research work is expected to be completed in 2009.
On February 9, 2009, the Company received notice that it is the recipient a grant from the Pennsylvania Alternative Fuels Incentive Grant program. The $800,000 first-year grant, which was announced by Governor Edward Rendell on January 29th, is part of Pennsylvania’s overall effort to invest in businesses that are creating important and innovative clean energy and bio-fuels technologies. The award proceeds will be used to demonstrate the advantages the Axion proprietary PbC battery technology provides in a variety of electric vehicle types including: hybrids (HEVs), such as the popular Toyota Prius; “plug-ins” (PHEVs) used in commuter, delivery and other vehicles; and in electric vehicles (EV’s) and converted (from combustion engine operation) EV’s. The grant proceeds are expected to be received in 2009.
Here is the T Grandeville “Fairyland” quote from years ago:
“"Granville sees potential: "It's almost fairyland with all of the potential applications that are out there; however we can only focus on a number of them."
Axion Power International's CEO Discusses Q1 2013 Results - Earnings Call Transcript [View article]
Taken from the yahoo board, I find the history very interesting so it is copy and pasted from there.
The question was who has walked away from Axion and what is the history there ?
I do not have time to list everything, and I am sure there are some none of us know about. But here is in part what I understand occurred 2007 to date and some of the key players in the mix through the years. Copy and paste it in a search, all true and easily verified. I find history interesting.
Ed Buiel. Chief Technology Officer/Vice President, Axion Power International, Inc. Ed Buiel was put in charge of research and development in September 2005. Ed Buiel was key man in the development and in fact led the Istanbul presentation that poster John Peterson constanstly brags about. For many years Ed Buiel led Axion PbC development. So Ed Buiel I understand he left, apparently after approximately 6 years of developing his baby, he up and left.
Exide. In 2009, and with great efforts of Ed Buiel, Axion Power was said to have signed a world wide and wide-ranging testing and distribution pact with Exide Technologies. This included receipt of a 34 Million Dollar DOE grant, a 34 million dollar grant Axion joint with Exide. An amazing accomplishment that brought much hope and excitement to all. Did Exide walk away or did Axion ? I guess we may never know. But we do know that the Exide Axion agreement broke up. Did they break up and Axion split it 50/50 % at least Axion must have been paid back all of their expenses ? Answer seems to be nothing, Axion apparently got nothing Exide got full use of the 34 million and went on to develop the Exide enhanced carbon AGM.
US Military. What about 2008 and the US Military the Army's Tank and Automobile Command (TACOM). Axion received a US Military Grant in 2008, a multi year grant if I recall correctly, by year end 2011 it expired and was not renewed. Another walk away ?
Honda Civic hybrids. Toyota. Incredible company. Remember in 2008 when Axion PbC was to replace the nickel metal hydride battery in the Honda Civic in 2008 we were told the testing would include a 100,000 miles on the road, Axion would then include Toyota Prius in testing. Seen any published results. Nothing ? Another walk away ?
Pennsylvania and Axion and HEV's January 2009. Remember when PA Gov Ed Rendell and the State of PA followed up with a $800,000 first-year grant,to Axion, the award to work on hybrids (HEVs), "plug-ins" (PHEVs) and in converted (from combustion engine operation) EV's.
The "ALABC", The two grants total $388,000 The research work was completed during the first quarter of 2010. I think this important if you follow the history, since 2008 multiple grants totalling the million(s) and now the 2012 DOE and GM grant is for $ 150,000. And that is with GM. And GM could spend $ 150,000 a day if they wanted ?
Envision Solar. Axion and Envision were "partners". Axion in fact had the Envision "solar tree" on the Axion property and was testing it with Axion batteries. Who better to perform the tests of Axion batteries than Axion themselves ! Great expectations of course. What happened ? A year later it seems, after all was reportedly going well, that Envision went with another company used another battery, and we simply never heard another word from Axion. Most recently Envision Solar and General Motors kicked off a national solar initiative at Fremont Cadillac Buick GMC.
Lets get back Home again with Envision. State of Pennsylvania. Remember when the State of Pennsylvania sponsored Axion. $ 300,000 in a state-funded project, Axion PbC batteries UPS power conditioner from Eaton Corporation, and Envision. Nothing ?
New York State Energy to provide back-up power to utility sites. An advanced battery management system for a 250 kW/750 kWh demonstration project that will be funded by the New York State Energy Research and Development Authority ("NYSERDA"). Sure they will tell you when the market crashed in 2008 (I think this was announced 2007) it was put on hold, understandable. It is now 2013. No longer understandable ?
City University of New York peak energy saving project. Has anyone asked what happened to the City University of New York. Isn't that peak saving the Axion niche ?
How about Arkansas. Remember when they told you Axion is working with government officials in Arkansas. Converting gasoline-powered vehicles to electric and dual mode vehicles. Tom Granville was paraphrased as stating something to the effect of they would convert 1 percent of the U.S. vehicle fleet and possibly create 44,000 new jobs that the conversions would cost less than $10,000 and with a tax credit return on investment realized in two or three years.
What about small villages and overseas governments. I recall reading Axion was addressing several projects for those lacking grid access, including small villages in the U.S. and overseas. Tom Granville was quoted in one article reporting "Granville sees potential: "It's almost fairyland with all of the potential applications that are out there; however we can only focus on a number of them." " That too I believe was in 2009 and 2010 (yahoo does not permit links but see Collaborative Economics for Environmental Defense Fund EDF and Business). Very exciting. Did you hear one word in 2011 or 2012 ? Nothing ? Fairyland ?
Viridity. What about Viridity, certainly they are best buddies and partners. I was very excited about Viridity, I know many were. But what has happened recently. What is the Axion Viridity news ? Having heard little to nothing from Axion, I had been following this. In June 2012 Southeastern Pennsylvania Transportation Authority (SEPTA) held a ribbon cutting ceremony for their public transit technology. Viridity Energy provided its VPower™ software and Saft, provided the batteries and it was in part funded by a 2010 Pennsylvania Energy Development Authority (PEDA) grant. When I inquired why, if think I have this right, I recall the discussion was the Axion batteries did not have enough power or energy, and to meet the demand they would have to be larger, and they were then too big, too big to put inside (not enough space in the tunnel) and that they were too big to put outside (limited space in garage or on sidewalk) so that Axion did not even try to get the project. Well, I don't claim to know the specifics, but I do watch what is happening.
Siltek and the placement in the US Navy Yard. Many were confused by this, the US Military did NOT buy the powercube, a relatively small and unknown to me anyway company, got a contract to install a small wind solar project in the Navy Yard and Siltek apparently chose Axion batteries for the project. Very exciting nonetheless, mention after mention of Siltek and then I think you will find in the last 10 Q report and in the conference call, silence. Nothing mentioned in the conference call about Siltek. The batteries used by Siltek were being monitored by Axion on a daily bases, Axion does not give a report. Can anyone explain the silence on Siltek.
Norfolk Southern. Axion reported they received their first big order of batteries from Norfolk Southern in April 2012. What is understood by me but not widely reported, is that Norfolk Southern apparently never requested delivery of the batteries, we or at least I do not even know if the batteries were made. To me The silence is deafening.
Well I am starting to get the feeling I am in fairyland. Anyone else share any concerns about this history ?
Tesla's Q1 Earnings, An Epic April Fools Prank [View article]
John Petersen author April 26 2013
""""" I was a relentless critic of A123. There were a couple instances where I thought a negative market response was overblown and the stock might rally temporarily, but like Tesla I always viewed A123 as a bug in search of a windshield. """""
"""" I always viewed A123 as a bug in search of a windshield """"
------ LETS LOOK BACK ----- SHALL WE -----
A123 Systems IPO Meets with Great Success John Petersen Sep 24 2009,
" On December 16th I wrote "My favorites for a strong 2012 include AONE, MXWL, AXPW.OB, ZBB, JCI, ENS, ACPW and XIDE. "
" Since I argued A123 was reasonably valued in the $6 range, I believe its current price of $2.10, a 25% discount to book value, is attractive for investors who want exposure to the lithium-ion space. It's possible that A123 will suffer further price erosion, but for now it looks like the price is ready to begin an impressive "
.........................
John you argued for it essentially all the way down. These are your quotes.
Tesla's Q1 Earnings, An Epic April Fools Prank [View article]
Sal Demir
""" Did you read my comment entirely?
" I also cut the ZEV credits completely 2017 (GEN III launch) and following years which still gives an estimate price of minimum $500 in 2018-2019 timeframe" """"
Apparently no answer yet.
Is it ---- Wouldn't want facts or discussion to get in the way of a story. so no answer.
Why I'm Buying C&D Technologies Dec 16 2009, John Petersen
" Later this week I expect a blood in the streets buying opportunity in the stock of C&D Technologies (http://bit.ly/13W1iAO) and intend to take advantage of it. It's unquestionably a contrarian investment, but one that could pay off handsomely. "
" At Monday's closing price of $1.31, C&D had a market capitalization of $34.46 million, a price to book ratio of 0.81 and a price to sales ratio of 0.10. If the removal of C&D from the ^SML causes further price erosion, which certainly appears likely, today's rock bottom market metrics will only become more attractive. "
Is CHP now bankrupt, can't find it anywhere ?
Seems that way to me.
.
For the last 6 months or so when TSLA was at $28 I have read the same author time and time again tell us how bad TSLA was.
TSLA is now at $ 42
So I thought I would look at his other stock "PUMPS"
what a shame. What a dirty shame.
. I really don't want to pick on this fellow that though he might sqeaul for I have pointed out the fact.
When he is so often wrong about these others
why should we believe " this time he is right " ?
John Petersen I am a fan (biased) of TSLA - OK
Why when you have been wrong so often (see above)
Should I believe for one second you are right this time ?
Simple question, not an insult, give a reasonable response, and I shall leave forever (note I tried to reply on the axion power board, and even got many likes and they deleted my posts for some reason).
Thanks again to all for reasonable and rational reply !
eBikes: Exciting Development in Green Transportation Jul 1 2009, 06:09 John Petersen
" Recently, battery giant Advanced Battery Tech (ABAT) partnered with and subsequently acquired e-bike superstar Wuxi Angell in a move that has been the cause for Wall Street rallies even in the face of a less-than-perfect quarterly report from the company. "
"Representing an immense potential for the future of transportation in emerging economies and around the world, ABAT is set to increase production capacity and tighten cost controls to take full advantage of China’s e-bike boom, which is a promising candidate for a bloom in production and sales despite the global economic downturn. "
Why A123 Systems Is Undervalued Apr 29 2011, by John Peterson
" Most readers know I'm rarely bullish about A123 Systems (AONE), or for that matter any pure-play lithium-ion battery developer. Since I believe that it's critically important for my readers to understand what dilution is, I've decided to break away from tradition, jump to A123's defense, and explain why A123 is a far better risk today than it's ever been. "
Apr 29, 2011 closing price $ 6.04
Apr 4, 2013....... $ 0.03
I can provide many more examples.
It is very simple.
Of course the reader should make up their own mind.
John Petersen has written repeatedly about his choices among them Exide and among them Axion Power
" As Exide gets its house in order over the next two years, its price to book ratio should climb into the 1.75 range and its price to sales ratio should climb into the 55% range, which implies an upside potential of 300% to 500%. '
Nov 13 2011 John Petersen Seeking Alpha
Exide Nov 11, 2011 price $ 3.01
Exide April 4, 2013 $ 1.37
Instead of a %300 to %500 increase the opposite happened.
Axion Power seems similar
Axion Power's Market Value: An Elephant Hunter's Thesis Mar 28 2011, 04:25
" If you want to assume that $2.40 would have been a reasonable fair value in December 2010, you can pretty well count on an eventual stabilization in the $4.20 range. "
Mar 28, 2011 $ 1.19
Apr 4, 2013 $ 0.29
Exide should have gone $ 3 to $5 to $9.00?
And axpw - from a $ 4.20 prediction to a .29.
And that is just two of his predictions
remember he seemed to push hard to short TSLA at $ 28 - a year later it is at $ 42.
I am not sure it is EV dreams going up in smoke ?
Seems like perceptions and writings are so far off the mark it is really sad, sad and embarrasing.
Why Batteries Are Too Valuable To Waste On Solar Power Integration And Electric Cars [View article]
well I appreciate all the feedback and support .
I will leave by reporting one thing:
" Just why are teslas and fiskers given the $7500 incentive?, why are they granted HOV access? They still use the roads but won't pay any gasoline taxes...do you think that's a fair benefit to the 1%? "
Its well more than that. My town was putting in EV charging stations, I was a bit upset. Given the budget crisis and all; I thought it an expense we could all do without.
They reported not only did they get the charging stations and installation for free, they were given EV's for free too ! I don't know what kind, have not seen one yet, but town employees now have EVs for free (yes you are probably paying for it though your Federal taxes !) Some type of grant.
Imagine they gives these to the hundreds of towns in my state, and all the rest too ? I am not sure if state or fed gov grant but I imagine the feds did it. thats hundreds of thousands of vehicles.
Maybe its a GM thing, can't sell the car give it away for free to unload inventory.
Oh, you also failed to mention the GM NOL's that were not invalidated through bankruptcy (I understand typically they would have been), I believe this gave GM about 40 billion extra bailout monies the taxpayers don't know about ? Foolish taxpayers think they got money back from sales of GM stock.
(thanks taxpayers there appears no end to your generosity !)
The entire mess makes my head explode, good thing this Bernake fellow is able to print so much money or we would all be in trouble. Imagine if the money ran out ?
But seriously, if you think these EV and Hybrid co's will fail soon, you better think twice about the politic, everyone wants to be green and no one apparently has the nerve to stand in the way of it.
There is no doubt the taxpayers are getting slaughtered, but didn't cash for clunkers make you equally or more angry.
They crushed and destroyed perfectly good vehicles, that many of the more modest income families in my town would have given their right arm for. Many in my town desperate for a work vehicle, and they crushed them and gave away money (tax break) to others more wealthy that could afford a new car.
If you think Italy is bad, Who was the clown that thought this up.
Seems the current administration is bent on proving the EV will work, no matter how wrong they may be or how fiscally irresponsible it may be, or how the taxpayers will suffer from it.
Point being, I may not agree, and do despise it, but they are willing to throw tons of taxpayer money at this thing, and I would not be short the stupidity of the gov, they have more money then me and a greater will to prove how stupid they are.
Why Batteries Are Too Valuable To Waste On Solar Power Integration And Electric Cars [View article]
481086 we agreed but now I have to disagree
I just can't agree with you or you agreeing with Obee who says the EV buyer is " an excuse for the relative elite to flaunt it - and feel good about themselves " "that only the elite end of the 1%'s can afford." basically insulting them, by claiming they are rich narcissistic fools who don't understand gas or electric mileage.
If you guys think that, I guess you say the same about the purchaser of a '68 Chevelle, Shelby, Pontiac GTO or any other similar vehicle including a '41 chevy half ton pick up.
Who doesn't realize people buy cars for fun ? Or because they want to, or because they think they are cool, and who made you guys the car police. So what if they want to be cool; and so what if they can afford it, I wish I could.
You may want to tell Jay Leno ! hes a jerk that doesn't understand gas mileage. And by the way his " fundamental economics and energy balance " don't work, so he's made a bad investment !
If an EV is their thing, who's to criticize, why can't they buy what interests them.
There is clearly a market for the tesla, just as there is clearly a market for the custom car or truck. .
Regarding the NSC trains.
I think your wrong when you say only the EV works for them in the switchyard, " their battery-only train is really only intended for the switchyard, where emissions and noise and idling elimination are big issues... " I doubt it is even a preference.
Why wouldn't a hybrid work better in a switchyard, it cannot possibly be that every now and then a diesel would turn on to charge the battery if and as needed, all else would stay the same. Idling emissions etc..
If you think the axion battery is key, why wouldn't they add the small diesel to be there "just in case". The same argument you use about converting the tesla.
This is a work horse, this has to move and cannot run out of electric. I have to imagine they would not take the risk and put in EV train, even if it worked 99 % of the time when the hybrid could assure 100 %. Just not worth it, this is business not pleasure. The EV train as it is work only and is a "must run" cannot block traffic will fail, the hybrid will come in,
just as you said previously " Hybrids, on the other hand, I do think can be more of a savior, "
Why Batteries Are Too Valuable To Waste On Solar Power Integration And Electric Cars [View article]
Neil - thank you and yes.
Obiee - you would have the same argument against the Ferrari buyer, or the rebuilt 69 mustang buyer. Bought for fun or as you call it, to flaunt it and feel good about themselves. You like the author appear to not know why most people buy cars, or are willing to pay extra for them. have you watched television lately, there is probably more than 5 tv shows on rebuilding and selling cars for fun or to "flaunt it".
481086 Thank you, we appear in complete agreement on all points.
" Hybrids, on the other hand, I do think can be more of a savior, "
Yes, It simply broadens the range of the vehicle purpose, and decreases the risk of vehicle failure (you have a backup, you know if you get in a jam the battery can be charged).
It therefore broadens the market.
There will still be EV car buyers for they may buy (as Obiee says) to flaunt it, or as I say for fun. Or the particular purpose (like mine) may be well suited.
. I think you are correct with vehicles I think the same holds for the trains.
No one can afford a train waiting on a track to be charged, or risk the discharge and halt of the train.
The only difference with the train is,
I think the EV train is a real work horse and not bought for fun, not bought to flaunt, but to get the job done,
so I think this is much more likely to be a fad, I doubt they want to limit their work horse to EV only. Likely will be many more hybrid trains and no EV trains; it just doesn't make sense to me.
Who knows, maybe after proof of concept TSLA would offer HYBRID too, I don't see why they would not.
Axion Power International's CEO Discusses Q1 2013 Results - Earnings Call Transcript [View article]
Perhaps you would like to do some of your own, but here are a few
You should see what EXIDE says:
In August 2009, we were awarded a grant by the DOE of approximately $34 million to increase our AGM manufacturing capacity. These AGM batteries are designed for stop/start, micro-hybrid and no-idle vehicle applications, and enable improved fuel efficiency to reduce CO2 emissions. Our total investment, including the DOE grant, will be approximately $70 million for expansion of our Columbus, Georgia and Bristol, Tennessee facilities. Additionally, we received tax incentives from the State of Georgia and Tennessee of approximately $9.3 million and approximately $6.0 million, respectively. As a result of these grants and incentives, we expect to expand battery production capacity by about 1.5 million batteries per year. These investments are expected to be completed by the end of calendar year 2012.
Read more: http://bit.ly/10GNgPK
Here Is what Axion says:
http://bit.ly/19SoP2V
On August 5, 2009, the United States Department of Energy announced that “Exide Technology with Axion Power International” was awarded a $34.3 million grant for the production of advanced lead-acid batteries using lead-carbon electrodes for micro and mild hybrid applications under a program to accelerate the Manufacturing and Deployment of the Next Generation of U.S. Batteries and Electric Vehicles. As of the date of this report, it is still not determined what portion, if any, of this grant will be awarded to or indirectly made available for the benefit of the Company.
• You do realize Axion apparently did not get one penny from the “grant”.
HEres some more for you:
On December 22, 2009, the Pennsylvania Energy Development Authority awarded us a $248,650 grant to assist us in the development and deployment of an Axion PowerCube™ battery energy storage system using our PbC battery technology. The 500 kilowatt PowerCube will be built and installed at our New Castle battery manufacturing facility and will be designed to enhance a Smart Grid electrical distribution system, that will potentially include a future solar-powered electric vehicle charging station and a potential wind-powered energy system. We have begun design work on this project.
On June 16, 2010, Axion Power Battery Manufacturing, Inc. received a $298,605 solar energy program grant to assist with solar power energy storage research and development. This grant, along with proceeds from the December 22, 2009 Pennsylvania Energy Development Authority award will contribute funding to our development program with an estimated total project cost of $1 million.
On May 11, 2010, we were awarded a federal contract number N00014-10-C-0094 for the development of new lightweight, high-powered batteries for use in vehicles operated by the U.S. Marine Corps.
Heres more:
http://bit.ly/10GNgPP
We had 26,417,437 shares of common stock outstanding at December 31, 2008,
On October 6, 2008, the Company received notice that it was the recipient of a federal grant for the development of new lightweight, high-powered batteries for use in vehicles operated by the U.S. Marine Corps. The first year, of an anticipated ongoing three year grant, provides $1,200,000 to us for the project
Grants from Commonwealth of Pennsylvania: On April 30, 2007, the Company was awarded a series of retroactive grants from the Commonwealth of Pennsylvania with an aggregate value of $1.2 million. Grants for $900,000 were specifically designated for equipment purchases and the remaining $300,000 for job training and tax credits. The $150,000 Opportunity Grant Program grant requires the Company to hire 86 full-time employees by March 31, 2009, spend a total of $6,492,300 of non-public funds as part of the company’s operating expenses and equipment purchases by March 31, 2009 and maintain an operation in Neshannock Township through March 31, 2011.
On February 5, 2009, the Company received a pair of grants from the Advanced Lead-Acid Battery Consortium, the leading industry association made up in part by the largest companies supplying the world’s battery market. The pair of grants totals approximately $380,000 and will help support research into two key areas. (1) The first grant seeks to identify the mechanism by which the optimum specification of carbon, when included in the negative active material of a valve-regulated lead-acid battery, provides protection against accumulation of lead sulfate during high-rate partial-state-of-charge operation. (2) The second grant seeks simply to characterize Axion’s proprietary PbC™ battery in hybrid electric vehicle (HEV) type duty-cycle testing. The grants are administered through the Durham, NC-based International Lead Zinc Research Organization acting on behalf of the ALABC. The research work is expected to be completed in 2009.
On February 9, 2009, the Company received notice that it is the recipient a grant from the Pennsylvania Alternative Fuels Incentive Grant program. The $800,000 first-year grant, which was announced by Governor Edward Rendell on January 29th, is part of Pennsylvania’s overall effort to invest in businesses that are creating important and innovative clean energy and bio-fuels technologies. The award proceeds will be used to demonstrate the advantages the Axion proprietary PbC battery technology provides in a variety of electric vehicle types including: hybrids (HEVs), such as the popular Toyota Prius; “plug-ins” (PHEVs) used in commuter, delivery and other vehicles; and in electric vehicles (EV’s) and converted (from combustion engine operation) EV’s. The grant proceeds are expected to be received in 2009.
Here is the T Grandeville “Fairyland” quote from years ago:
“"Granville sees potential: "It's almost fairyland with all of the potential applications that are out there; however we can only focus on a number of them."
http://bit.ly/ZFHUVU
So you see, if you actually look, all of the post is 100 % accurate.
Axion Power International's CEO Discusses Q1 2013 Results - Earnings Call Transcript [View article]
The question was who has walked away from Axion and what is the history there ?
I do not have time to list everything, and I am sure there are some none of us know about. But here is in part what I understand occurred 2007 to date and some of the key players in the mix through the years. Copy and paste it in a search, all true and easily verified. I find history interesting.
Ed Buiel. Chief Technology Officer/Vice President, Axion Power International, Inc.
Ed Buiel was put in charge of research and development in September 2005.
Ed Buiel was key man in the development and in fact led the Istanbul presentation
that poster John Peterson constanstly brags about. For many years Ed Buiel led Axion PbC development. So Ed Buiel I understand he left, apparently after approximately 6 years of developing his baby, he up and left.
Exide. In 2009, and with great efforts of Ed Buiel, Axion Power was said to have signed a world wide and wide-ranging testing and distribution pact with Exide Technologies. This included receipt of a 34 Million Dollar DOE grant, a 34 million dollar grant Axion joint with Exide. An amazing accomplishment that brought much hope and excitement to all. Did Exide walk away or did Axion ? I guess we may never know. But we do know that the Exide Axion agreement broke up. Did they break up and Axion split it 50/50 % at least Axion must have been paid back all of their expenses ? Answer seems to be nothing, Axion apparently got nothing Exide got full use of the 34 million and went on to develop the Exide enhanced carbon AGM.
US Military. What about 2008 and the US Military the Army's Tank and Automobile Command (TACOM). Axion received a US Military Grant in 2008, a multi year grant if I recall correctly,
by year end 2011 it expired and was not renewed. Another walk away ?
Honda Civic hybrids. Toyota. Incredible company. Remember in 2008 when Axion PbC was to replace the nickel metal hydride battery in the Honda Civic in 2008 we were told the testing would include a 100,000 miles on the road, Axion would then include Toyota Prius in testing. Seen any published results. Nothing ? Another walk away ?
Pennsylvania and Axion and HEV's January 2009. Remember when PA Gov Ed Rendell and the State of PA followed up with a $800,000 first-year grant,to Axion, the award to work on hybrids (HEVs), "plug-ins" (PHEVs) and in converted (from combustion engine operation) EV's.
The "ALABC", The two grants total $388,000 The research work was completed during the first quarter of 2010. I think this important if you follow the history, since 2008 multiple grants totalling the million(s) and now the 2012 DOE and GM grant is for $ 150,000. And that is with GM. And GM could spend $ 150,000 a day if they wanted ?
Envision Solar. Axion and Envision were "partners". Axion in fact had the Envision "solar tree" on the
Axion property and was testing it with Axion batteries. Who better to perform the tests of Axion
batteries than Axion themselves ! Great expectations of course. What happened ? A year later
it seems, after all was reportedly going well, that Envision went with another company used another battery, and we simply never heard another word from Axion. Most recently Envision Solar and General Motors kicked off a national solar initiative at Fremont Cadillac Buick GMC.
Lets get back Home again with Envision. State of Pennsylvania. Remember when the State of Pennsylvania sponsored Axion. $ 300,000 in a state-funded project, Axion PbC batteries UPS power conditioner from Eaton Corporation, and Envision. Nothing ?
New York State Energy to provide back-up power to utility sites. An advanced battery management system for a 250 kW/750 kWh demonstration project that will be funded by the New York State Energy Research and Development Authority ("NYSERDA"). Sure they will tell you when the market crashed in 2008 (I think this was announced 2007) it was put on hold, understandable. It is now 2013. No longer understandable ?
City University of New York peak energy saving project. Has anyone asked what happened to the City University of New York. Isn't that peak saving the Axion niche ?
How about Arkansas. Remember when they told you Axion is working with government officials in Arkansas. Converting gasoline-powered vehicles to electric and dual mode vehicles. Tom Granville was paraphrased as stating something to the effect of they would convert 1 percent of the U.S. vehicle fleet and possibly create 44,000 new jobs that the conversions would cost less than $10,000 and with a tax credit return on investment realized in two or three years.
What about small villages and overseas governments. I recall reading Axion was addressing several projects for those lacking grid access, including small villages in the U.S. and overseas. Tom Granville was quoted in one article reporting "Granville sees potential: "It's almost fairyland with all of the potential applications that are out there; however we can only focus on a number of them." " That too I believe was in 2009 and 2010 (yahoo does not permit links but see Collaborative Economics for Environmental Defense Fund EDF and Business). Very exciting. Did you hear one word in 2011 or 2012 ? Nothing ? Fairyland ?
Viridity. What about Viridity, certainly they are best buddies and partners. I was very excited about Viridity, I know many were. But what has happened recently. What is the Axion Viridity news ?
Having heard little to nothing from Axion, I had been following this. In June 2012 Southeastern Pennsylvania Transportation Authority (SEPTA) held a ribbon cutting ceremony for their public transit technology. Viridity Energy provided its VPower™ software and Saft, provided the batteries and it was in part funded by a 2010 Pennsylvania Energy Development Authority (PEDA) grant. When I inquired why, if think I have this right, I recall the discussion was the Axion batteries did not have enough power or energy, and to meet the demand they would have to be larger, and they were then too big, too big to put inside (not enough space in the tunnel) and that they were too big to put outside (limited space in garage or on sidewalk) so that Axion did not even try to get the project. Well, I don't claim to know the specifics, but I do watch what is happening.
Siltek and the placement in the US Navy Yard. Many were confused by this, the US Military did NOT buy the powercube, a relatively small and unknown to me anyway company, got a contract to install a small wind solar project in the Navy Yard and Siltek apparently chose Axion batteries for the project. Very exciting nonetheless, mention after mention of Siltek and then I think you will find in the last 10 Q report and in the conference call, silence. Nothing mentioned in the conference call about Siltek.
The batteries used by Siltek were being monitored by Axion on a daily bases, Axion does not give a report. Can anyone explain the silence on Siltek.
Norfolk Southern. Axion reported they received their first big order of batteries from Norfolk Southern in April 2012. What is understood by me but not widely reported, is that Norfolk Southern apparently never requested delivery of the batteries, we or at least I do not even know if the batteries were made. To me The silence is deafening.
Well I am starting to get the feeling I am in fairyland.
Anyone else share any concerns about this history ?
Tesla's Q1 Earnings, An Epic April Fools Prank [View article]
""""" I was a relentless critic of A123. There were a couple instances where I thought a negative market response was overblown and the stock might rally temporarily, but like Tesla I always viewed A123 as a bug in search of a windshield. """""
"""" I always viewed A123 as a bug in search of a windshield """"
------ LETS LOOK BACK ----- SHALL WE -----
A123 Systems IPO Meets with Great Success
John Petersen
Sep 24 2009,
http://seekingalpha.co...
.
Why A123 Systems Is Undervalued
Apr 29 2011, 01:59
John Petersen
http://seekingalpha.co...
"""""...if you like A123 Systems at $7.82, you should love it in the $6.00 range.
It's a far better investment today than it was a month ago. """""
.
A123: Clear Sector Leader In Lithium-Ion Battery Space
Jan 23 2012 John Petersen
http://seekingalpha.co...
""""" Earlier this month I picked A123 as a break out stock for 2012. """""
.
Energy Storage: Four Break Out Stocks and a Short Circuit
http://bit.ly/yg2ZXE
John Petersen
" On December 16th I wrote "My favorites for a strong 2012 include AONE, MXWL, AXPW.OB, ZBB, JCI, ENS, ACPW and XIDE. "
" Since I argued A123 was reasonably valued in the $6 range, I believe its current price of $2.10, a 25% discount to book value, is attractive for investors who want exposure to the lithium-ion space. It's possible that A123 will suffer further price erosion, but for now it looks like the price is ready to begin an impressive "
.........................
John you argued for it essentially all the way down.
These are your quotes.
Hmmmmmm. Interesting.
.
.
Tesla's Q1 Earnings, An Epic April Fools Prank [View article]
""" Did you read my comment entirely?
" I also cut the ZEV credits completely 2017 (GEN III launch) and following years which still gives an estimate price of minimum $500 in 2018-2019 timeframe" """"
Apparently no answer yet.
Is it ---- Wouldn't want facts or discussion to get in the way
of a story. so no answer.
Or will we see an answer here ?
.
Tesla's Q1 Earnings, An Epic April Fools Prank [View article]
at $ 26
every month or 3 since then he essentially repeats it
http://bit.ly/wT01CJ
he goes so far as to call it filth
its a double now.
meanwhile his beloved Axxion Power went from $ 1.62
to $ .24 he has been writing about that since 2009
Why I'm Thrilled by Axion Power's Financing Transaction
Dec 23 2009, 04:04 by: John Petersen
http://seekingalpha.co...
I would not take his advice with a grain of salt
Its more like 10 tons of salt.
. many would be embarrased and simply go away.
who know, maybe some day he may get it right ?
.
Tesla's Q1 Earnings, An Epic April Fools Prank [View article]
could it be they get more credits that way.
would be interesting to know....
Moral of the story as it currently stands.
When do you realize people love cars,
from a 69 chevy to a 51 ford
they are willing to pay a lot for the cars
they are willing to put a lot of money into the cars.
.
When do you realize the current administration
has essentially this company and only this company
to save itself from absolute em bare assmint.
.
When the ZEV credit is ZERO
The current administration will just raise it of course.
Common sense.
.
Tesla's Obscenely Expensive Cure For Range Anxiety [View article]
[ But] There is no assurance that they'll hit their 20,000 unit target in 2013 ... "
John, do you have ANY, ANY reasonable belief that they cannot produce 20,000 vehicles in 2013.
If so, Please set it forth.
Or retract the statement.
Statements with no basis in reason, with no foundation,
really do get tiring.
History: you basically advised all to short at $ 26.; and repeatedly thereafter,
it is now at $ 47.
Appearance has it, you may expect an earthquake to thin production and global collapse to drop the price, and maybe
that will happen.
Is that your current philosophy now, or do you have
something more to offer ?
Are EV Dreams Going Up In Smoke? [View article]
Apr 4, 2013 TSLA $ 42.01
Why Tesla Is Unlikely to Succeed
Jun 21 2010
John Petersen
" Calling Tesla an automaker is like calling France's très chic Louis Vuitton, Möet Hennesy Group (http://bit.ly/ZbCdcw) a beverage company. "
" I believe plans to electrify passenger cars are doomed until gas prices increase substantially or battery costs fall substantially. "
$ 24 to $ 42.
during that same time period
And John you wrote many articles time after time
predicting failure ?
. There is no careful selection here.
Just the facts. Simply the facts.
Are EV Dreams Going Up In Smoke? [View article]
Dec 16 2009,
John Petersen
" Later this week I expect a blood in the streets buying opportunity in the stock of C&D Technologies (http://bit.ly/13W1iAO) and intend to take advantage of it. It's unquestionably a contrarian investment, but one that could pay off handsomely. "
" At Monday's closing price of $1.31, C&D had a market capitalization of $34.46 million, a price to book ratio of 0.81 and a price to sales ratio of 0.10. If the removal of C&D from the ^SML causes further price erosion, which certainly appears likely, today's rock bottom market metrics will only become more attractive. "
Is CHP now bankrupt, can't find it anywhere ?
Seems that way to me.
.
For the last 6 months or so when TSLA was at $28
I have read the same author time and time again tell us how
bad TSLA was.
TSLA is now at $ 42
So I thought I would look at his other stock "PUMPS"
what a shame. What a dirty shame.
. I really don't want to pick on this fellow that though
he might sqeaul for I have pointed out the fact.
When he is so often wrong about these others
why should we believe " this time he is right " ?
John Petersen I am a fan (biased) of TSLA - OK
Why when you have been wrong so often (see above)
Should I believe for one second you are right this time ?
Simple question, not an insult, give a reasonable response,
and I shall leave forever (note I tried to reply on the axion power
board, and even got many likes and they deleted my posts for some reason).
Thanks again to all for reasonable and rational reply !
As always I look forward to learning @@
.
Are EV Dreams Going Up In Smoke? [View article]
Jul 1 2009, 06:09
John Petersen
" Recently, battery giant Advanced Battery Tech (ABAT) partnered with and subsequently acquired e-bike superstar Wuxi Angell in a move that has been the cause for Wall Street rallies even in the face of a less-than-perfect quarterly report from the company. "
"Representing an immense potential for the future of transportation in emerging economies and around the world, ABAT is set to increase production capacity and tighten cost controls to take full advantage of China’s e-bike boom, which is a promising candidate for a bloom in production and sales despite the global economic downturn. "
ABAT Jul 1, 2009 $ 4.01
Apr 4, 2013 $ 0.21
Why again does he continue to rail against TSLA ?
.
Are EV Dreams Going Up In Smoke? [View article]
Apr 29 2011,
by John Peterson
" Most readers know I'm rarely bullish about A123 Systems (AONE), or for that matter any pure-play lithium-ion battery developer. Since I believe that it's critically important for my readers to understand what dilution is, I've decided to break away from tradition, jump to A123's defense, and explain why A123 is a far better risk today than it's ever been. "
Apr 29, 2011 closing price $ 6.04
Apr 4, 2013....... $ 0.03
I can provide many more examples.
It is very simple.
Of course the reader should make up their own mind.
.
Are EV Dreams Going Up In Smoke? [View article]
among them Exide and among them Axion Power
" As Exide gets its house in order over the next two years, its price to book ratio should climb into the 1.75 range and its price to sales ratio should climb into the 55% range, which implies an upside potential of 300% to 500%. '
Nov 13 2011
John Petersen
Seeking Alpha
Exide Nov 11, 2011 price $ 3.01
Exide April 4, 2013 $ 1.37
Instead of a %300 to %500 increase the opposite happened.
Axion Power seems similar
Axion Power's Market Value: An Elephant Hunter's Thesis
Mar 28 2011, 04:25
" If you want to assume that $2.40 would have been a reasonable fair value in December 2010, you can pretty well count on an eventual stabilization in the $4.20 range. "
Mar 28, 2011 $ 1.19
Apr 4, 2013 $ 0.29
Exide should have gone $ 3 to $5 to $9.00?
And axpw - from a $ 4.20 prediction to a .29.
And that is just two of his predictions
remember he seemed to push hard to short TSLA
at $ 28
- a year later it is at $ 42.
I am not sure it is EV dreams going up in smoke ?
Seems like perceptions and writings are so far off the mark
it is really sad, sad and embarrasing.
well just one writers opinion.
,
Why Batteries Are Too Valuable To Waste On Solar Power Integration And Electric Cars [View article]
I will leave by reporting one thing:
" Just why are teslas and fiskers given the $7500 incentive?, why are they granted HOV access? They still use the roads but won't pay any gasoline taxes...do you think that's a fair benefit to the 1%? "
Its well more than that. My town was putting in EV charging stations, I was a bit upset. Given the budget crisis and all; I thought it an expense we could all do without.
They reported not only did they get the charging stations and installation for free, they were given EV's for free too ! I don't know what kind, have not seen one yet, but town employees now have EVs for free (yes you are probably paying for it though your Federal taxes !) Some type of grant.
Imagine they gives these to the hundreds of towns in my state, and all the rest too ? I am not sure if state or fed gov grant but I imagine the feds did it. thats hundreds of thousands of vehicles.
Maybe its a GM thing, can't sell the car give it away for free to unload inventory.
Oh, you also failed to mention the GM NOL's that were not invalidated through bankruptcy (I understand typically they would have been), I believe this gave GM about 40 billion extra bailout monies the taxpayers don't know about ? Foolish taxpayers think they got money back from sales of GM stock.
(thanks taxpayers there appears no end to your generosity !)
The entire mess makes my head explode, good thing this Bernake fellow is able to print so much money or we would all be in trouble.
Imagine if the money ran out ?
But seriously, if you think these EV and Hybrid co's will fail soon, you better think twice about the politic, everyone wants to be green and no one apparently has the nerve to stand in the way of it.
There is no doubt the taxpayers are getting slaughtered,
but didn't cash for clunkers make you equally or more angry.
They crushed and destroyed perfectly good vehicles, that many of the more modest income families in my town would have given their right arm for. Many in my town desperate for a work vehicle, and they crushed them and gave away money (tax break) to others more wealthy that could afford a new car.
If you think Italy is bad, Who was the clown that thought this up.
Seems the current administration is bent on proving the EV will work, no matter how wrong they may be or how fiscally irresponsible it may be, or how the taxpayers will suffer from it.
Point being, I may not agree, and do despise it, but they are willing to throw tons of taxpayer money at this thing, and I would not be short the stupidity of the gov, they have more money then me and a greater will to prove how stupid they are.
Why Batteries Are Too Valuable To Waste On Solar Power Integration And Electric Cars [View article]
I just can't agree with you or you agreeing with Obee who says the EV buyer is " an excuse for the relative elite to flaunt it - and feel good about themselves " "that only the elite end of the 1%'s can afford." basically insulting them, by claiming they are rich narcissistic fools who don't understand gas or electric mileage.
If you guys think that, I guess you say the same about the purchaser of a '68 Chevelle, Shelby, Pontiac GTO or any other similar vehicle including a '41 chevy half ton pick up.
Who doesn't realize people buy cars for fun ? Or because they want to, or because they think they are cool, and who made you guys the car police. So what if they want to be cool; and so what if they can afford it, I wish I could.
You may want to tell Jay Leno ! hes a jerk that doesn't understand gas mileage. And by the way his " fundamental economics and energy balance " don't work, so he's made a bad investment !
If an EV is their thing, who's to criticize, why can't they buy what interests them.
There is clearly a market for the tesla, just as there is clearly a market for the custom car or truck.
.
Regarding the NSC trains.
I think your wrong when you say only the EV works for them in the switchyard, " their battery-only train is really only intended for the switchyard, where emissions and noise and idling elimination are big issues... " I doubt it is even a preference.
Why wouldn't a hybrid work better in a switchyard, it cannot possibly be that every now and then a diesel would turn on to charge the battery if and as needed, all else would stay the same. Idling emissions etc..
If you think the axion battery is key, why wouldn't they add the small diesel to be there "just in case". The same argument you use about converting the tesla.
This is a work horse, this has to move and cannot run out of electric. I have to imagine they would not take the risk and put in EV train, even if it worked 99 % of the time when the hybrid could assure 100 %. Just not worth it, this is business not pleasure.
The EV train as it is work only and is a "must run" cannot block traffic will fail, the hybrid will come in,
just as you said previously " Hybrids, on the other hand, I do think can be more of a savior, "
Why Batteries Are Too Valuable To Waste On Solar Power Integration And Electric Cars [View article]
Obiee - you would have the same argument against the Ferrari buyer, or the rebuilt 69 mustang buyer. Bought for fun or as you call it, to flaunt it and feel good about themselves. You like the author appear to not know why most people buy cars, or are willing to pay extra for them. have you watched television lately, there is probably more than 5 tv shows on rebuilding and selling cars for
fun or to "flaunt it".
481086 Thank you, we appear in complete agreement on all points.
" Hybrids, on the other hand, I do think can be more of a savior, "
Yes, It simply broadens the range of the vehicle purpose, and decreases the risk of vehicle failure (you have a backup, you know if you get in a jam the battery can be charged).
It therefore broadens the market.
There will still be EV car buyers for they may buy (as Obiee says) to flaunt it, or as I say for fun. Or the particular purpose (like mine) may be well suited.
. I think you are correct with vehicles I think the same holds for the trains.
No one can afford a train waiting on a track to be charged, or risk the discharge and halt of the train.
The only difference with the train is,
I think the EV train is a real work horse and not bought for fun, not bought to flaunt, but to get the job done,
so I think this is much more likely to be a fad, I doubt they want to limit their work horse to EV only. Likely will be many more hybrid trains and no EV trains; it just doesn't make sense to me.
Who knows, maybe after proof of concept TSLA would offer
HYBRID too, I don't see why they would not.