Braille Energy Systems Inc. Announces Formation of New Business And Product Innovation
OTTAWA, ON / ACCESSWIRE / September 29, 2022 / Braille Energy Systems Inc. (formerly Mincom Capital Inc.) (TSX-V:BES) ("BESI" or the "Company"), is pleased to announce the formation of ELECTRAFY as a registered brand for its new commercial …
OTTAWA, ON / ACCESSWIRE / September 29, 2022 / Braille Energy Systems Inc. (formerly Mincom Capital Inc.) (TSX-V:BES) ("BESI" or the "Company"), is pleased to announce the formation of ELECTRAFY as a registered brand for its new commercial business.
Leveraging the proven Braille Energy LFP (lithium iron phosphate) battery technology as the basis for its product design, ELECTRAFY's primary focus will be the design and manufacturing of fully integrated Back-up Power Systems (BPS) and as well as stand-alone Energy Storage Systems (ESS). ELECTRAFY is in the final commercialization stages for its Residential and Industrial BPS product portfolio developed for the North American market.
"The timing of bringing these solutions to market has never been more important in light of North American electrical outages due to climate issues, security threats and aging infrastructure," said Lindsay Weatherdon, President and CEO of BESI. "Furthermore, as our society moves away from its dependence on fossil fuels towards renewable sources of energy, a secure, reliable means of energy storage is more important than ever."
"The Engineering Team developed best-in-class, North American-designed and manufactured BPS systems," said BESI's General Manager and Chief Technology Officer, Ivan Gissing. "Our team focused on product features to make our systems as user-friendly as possible. They are easy to scale for 1-4 day back up, offer a long service life, and are low maintenance and easy to install for residential users. Serial production for the residential series is planned for Q1 2023, with industrial units shortly thereafter."
The importance of secure, reliable energy storage and backup storage systems is increasingly clear, and several journalists and experts have weighed in on the subject. Katherine Blunt of The Wall Street Journal (Feb 18 '22) published that America's power grid is increasingly unreliable and that the problem is likely to get worse before it gets better (https://www.wsj.com/articles/americas-power-grid-is-increasingly-unrel ...).
Tim McLaughlin of Reuters (May 12 '22) states that nation's transmission network, plagued by outages and increasingly severe weather, needs a trillion-dollar overhaul to handle the Biden administration's promised clean-energy revolution (https://www.reuters.com/investigates/special-report/usa-renewables-ele ...).
Peter Behr & Jason Plautz of E&E News (May 19 '22) provide a sobering report of increased risk of power outages this summer in central & upper MidWest, Texas and Southern California due to extreme heat, wildfires, and extended drought (https://www.eenews.net/articles/grid-monitor-warns-of-u-s-blackouts-in ...)
About Braille Energy Systems Inc.
Braille Energy Systems Inc. holds an 89.95% equity interest in Braille Holdings Inc., which holds a 100% equity interest in Braille Battery Inc. Braille Battery is an established battery-manufacturing and energy storage company supplying batteries to the professional motor sports industry and the pioneer of a complete line of lightweight high powered battery systems for the transportation market. Braille Energy Systems (BESI) will expand its market penetration into a wider range of market segments that require lightweight, high-performing energy solutions, using the most scientifically advanced materials. For additional information about BESI and Braille Battery products, please visit our website at: www.brailleenergysystemsinc.com or www.braillebattery.com.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
This news release may contain assumptions, estimates, and other forward-looking statements regarding future events. Such forward-looking statements involve inherent risks and uncertainties and are subject to factors, many of which are beyond the Company's control, that may cause actual results or performance to differ materially from those currently anticipated in such statements.
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The Braille Energy Systems Stock currently trades with a raise of +5,88 % to 0,090CAD on the TSX Venture stock exchange.