The Wanxiang Transaction Is Not Necessarily A Permanent Solution For A123’s Problems
John Petersen On Wednesday A123 Systems (AONE) announced the execution of a Non-binding Memorandum of Understanding with the Wanxiang Group that will, if successfully implemented, restore A123 to a sound financial footing. Since the basic deal terms are a good deal more complex than the reports one reads in the mainstream media, I think a drill down into the detail may be helpful for investors who want to understand what a restructured A123 will look like. The critical document for this analysis is the MOU included as Exhibit 99.2 to A123's recent report on Form 8-K. The...
OMG! A Cheap Specialty Chemical Company
by Debra Fiakas CFA Most investors probably pass over specialty chemical producer OM Group, Inc. (OMG: NYSE). It has a recent history of losses and by the usual multiples of sales and earnings its stock appears pricey. I have taken a second look. The modernization of the chemicals industry is a key step in attaining a sustainable and environmentally benign economy. OM Group has undertaken an ambitious reorganization. Besides specialty chemicals, the company produces advanced materials and technologies for a variety of industries. OM Group has held leading positions in cobalt-based and nickel-based chemicals. Its advanced materials...
An Elephant Hunter’s Thesis for Axion Power
John Petersen Last Friday I breathed a sigh of relief as my core position in Axion Power International (AXPW.OB) regained the price level it established in the first quarter of 2010. The last 12 months have been a stockholder's worst nightmare as supply and demand dynamics pushed Axion's stock price down into the $0.50 range and kept it there. Since it looks like new buyers have finally eaten their way through the excess supply, now seems like an opportune time to unwrap my crystal ball and lay out an elephant hunter's thesis for Axion's stock price outlook over...
Understanding Stop-Start Idle Elimination And Emerging Energy Storage Solutions
John Petersen Last week Lux Research published a report titled "Micro-hybrids: On the Road to Hybrid Vehicle Dominance" that forecasts micro-hybrid vehicle sales of three million units this year increasing to 34 million units annually by mid-decade. Lux sent me a courtesy copy of their report and will host a webinar to discuss their findings on November 16th. While I'm very excited about Lux's conclusions respecting micro-hybrid implementation rates, it's critical for investors to understand that batteries for micro-hybrids will merely be upgrades of batteries that would have been sold in any event. Therefore, the benefit...
Alice in EVland Part III; Cost Benefit Analysis For Dummies
John Petersen Sometimes I think bloggers like me are the real dummies. We spend so much time delving into the minutiae of a stock or sector that we manage to obscure the big picture with too much detail. I've certainly been guilty of that particular flaw over the last couple years and want to offer an apology to readers I've confused rather than enlightened. Yesterday a reader sent me a copy of a presentation that Exide Technologies (XIDE) used in its December 2010 Investor Meetings. The slide on page 6 of the presentation did a great job...
Understanding the Development Path for Li-ion Battery Technologies
Last Tuesday a reader who works as a consultant in the energy storage and hybrid electric vehicles industries and sent me an unpublished "pre-decisional draft" of a DOE report titled National Battery Collaborative (NBC) Roadmap, December 9, 2009, a high-level policy analysis that discusses the merits, risks and expected costs of an aggressive eight-year initiative to foster the development and facilitate the commercialization of Li-ion batteries. The draft roadmap was written during the last days of the Bush administration, has since been partially implemented in the American Reinvestment and Recovery Act of 2009 and has never been officially released...
Electro Energy Receives U.S. Dept. of Energy Contract to Continue Development of Bipolar Nickel...
Electro Energy Inc (EEEI) announced receipt of a $1,050,000 contract with the U.S. DoE for the further development of its Bipolar Nickel Metal Hydride energy storage battery. These 2nd generation prototype test units, rated from 150 Volts, 20AHr to 500 Volts, 6AHr, will be constructed and tested at EEEI, and subsequently delivered to Sandia for further testing. Units of this size have potential applications for utility, wind, solar and customer side load regulation and back up power. This stock has been in a long term down trend and this contract was a much needed win to...
Alternative Energy Technologies and the Origin of Specious
John Petersen Thanks to a recent comment from JLBR, I've found a new hero in Dr. Peter Z. Grossman, an economics professor from Butler University who cogently argues that government attempts to force alternative energy technologies into an R&D model that was created for the Manhattan Project and refined for the Space Program will always result in commercial disaster because "the goal of the Apollo Program was the demonstration of engineering prowess while any alternative energy technology must succeed in the marketplace." In a recent article titled "The Apollo Fallacy and its Effect on U.S. Energy Policy" Dr....
Congratulating Axion and Exide
Yesterday Axion Power International (AXWP.OB) announced the signing of a memorandum of understanding with Exide Technologies (XIDE) following fourteen months of negotiation and technical investigation. This alliance could prove to be a sea-change event for the domestic battery industry. Copies of the press release and an archived version of the subsequent investor conference call are available on Axion's website. As a former chairman of Axion's board of directors and a very substantial Axion stockholder, I've been waiting for an agreement like this for a very long time. I'm delighted to see confirmation from Exide that my faith in...
Energy Storage: Q-2 2012 Review and Analysis
John Petersen While I jumped the gun last week and published my third quarter outlook for the energy storage and vehicle electrification sectors early, it's worthwhile to take a look back and see how my tracking list of companies performed over the last quarter and examine the past to see what the tea leaves in the bottom of the cup portend for the coming quarter. So without further delay I'll present my price performance table for the second quarter that ended on Friday. Q-2 was a dreadful quarter for Maxwell Technologies (MXWL) and ZBB Energy...
Axion Power’s Potential For Explosive Growth
Tom Konrad, CFA Axion Power International, Inc. (OTC:AXPW) has been developing its patented PbC lead-carbon battery technology, and in 2013 those efforts seem on the verge of paying off. Unfortunately, Axion’s financing situation makes me unwilling to recommend its stock as an investment in the near term, but I do consider it one to watch. This article will take a look at Axion’s technology and near term potential markets. A follow-up article (published here) will discuss the company’s financing situation, and the things which will need to change before I consider the stock an...
A123′s Deal With China’s Wanxiang Would Value the Stock at $0.55 a Share
Tom Konrad CFA A123 Systems battery cell products (Source: A123) It was no secret that A123 Systems (NASD:AONE) was desperate for money. It’s also no secret that Chinese companies are interested in buying Western companies, especially when they can acquire useful technology in the deal. So this morning’s announcement that Wanxiang Group Corporation, a Chinese largest autoparts manufacturer which has significant US operations, had signed a non-binding memorandum of understanding to invest up to $450 million in A123 through a combination of bridge loans, convertible notes, and warrants seems...
List of Battery Stocks
Battery stocks are publicly traded companies whose business involves the manufacture of batteries, battery components, or battery management systems used to store electricity through electrochemical means.
This list was last updated on 3/21/2022.
Advanced Battery Technologies Inc (ABAT)
Albermarle Corp (ALB)
Aspen Aerogels, Inc. (ASPN)
Axion Power International (AXPW)
BioSolar, Inc. (BSRC)
BYD Company, Ltd. (BYDDY)
China BAK Battery (CBAK)
Contemporary Amperex Technology Co., Limited (300750.SZ)
Eguana Technologies Inc. (EGT.V)
Electrovaya, Inc. (EFL.TO)
EnerSys (ENS)
Eos Energy Enterprises, Inc. (EOSE)
ESS Inc. (GWH)
Fluence Energy, Inc. (FLNC)
Flux Power Holdings, Inc (FLUX)
Global X Lithium ETF (LIT)
Highpower International (HPJ)
Invinity Energy Systems (IES.L, IVVGF)
Johnson Controls (JCI)
Li-Cycle Holdings Corp. (LICY)
Lithium Technology Corporation (LTHUQ)
Livent Corporation (LTHM)
mPhase Technologies (XDSL)
Microvast Holdings,...
Lithium-ion Batteries Are Too Valuable To Waste On Plug-in Vehicles
John Petersen In November 2006, a slick issue-oriented documentary asked the provocative question "Who Killed the Electric Car" and argued that General Motors' EV1 project was terminated because of collusion between the auto and oil industries. The truth is nobody killed the electric car. It died in infancy from congenital birth defects and the same flaws that killed the EV1 will probably kill Tesla Motors, Fisker Automotive, Nissan's (NSANY) Leaf and GM's Volt. This is not a question of cost, performance, abuse tolerance or cycle-life. It's a fundamental flaw in the economics of using batteries to replace a...
Valuation Primer For Energy Storage Companies – Lesson #1
John Petersen I frequently observe that market valuations in the energy storage sector have been wildly distorted by electric vehicle hype that has nothing to do with business fundamentals. Last February I wrote an article that compared Exide Technologies with Ener1, but obviously didn't quite get to the meat of the matter. Since both companies reported earnings on November 4th, this seems like an opportune time to be more direct in the comparison and present a brief primer on valuations in the energy storage sector. Since a lot of investors never get beyond stock price movements, the...
Don’t Bet Against SolarCity
By Jeff Siegel DISCLOSURE: Long SCTY. It wasn't an April Fool's Day gag when I said it was time to buy SolarCity Corp. (NASDAQ: SCTY) at the beginning of the month. After a brief standstill, the company's battery-backed solar projects have begun to move forward again. The State of California Public Utilities Commission has added an important item to its May 15 agenda that will make a huge difference for SolarCity. Utility companies may finally be blocked from imposing big fees on battery-backed solar systems. For more than a year, California's largest utilities companies demanded...
