Braille Energy Provides Update on Commercial Availability of its Lithium Modules and Home Back-Up Power System
OTTAWA, ON / ACCESSWIRE / January 18, 2023 / Braille Energy Systems Inc. (formerly Mincom Capital Inc.) (TSX-V:BES) ("BESI" or the "Company") is pleased to announce that its North American-designed Electrafy ESS Lithium Battery Modules will be commercially available beginning in May 2023. The modular systems feature the industry-leading FireBulb thermal runaway detection and response technology which was acquired by the Company in late 2022.
Shortly thereafter, the Electrafy Home Back-up Power System, featuring the Electrafy ESS Lithium Module, will also be made commercially available.
"Safety concerns around lithium batteries is a top concern for consumers looking to adopt renewable sources of backup energy storage," said Lindsay Weatherdon, President and CEO of BESI. "We share that concern, and that is why we aim to have the safest Home Back-up Power System on the market. We will also be marketing our lithium modules to industrial markets, where the importance of North American-made, fire-safe products is paramount."
Additionally, the company is currently in discussions with lithium battery companies to license its Firebulb thermal runaway detection and response technology. The stationary battery storage market alone was valued at USD $71 billion in 2022, and is expected to grow at more than 27% CAGR from 2023 to 2032 (source: Global Market Insights).
Mr. Weatherdon added, "The Firebulb system clearly solves a major safety issue facing most lithium battery companies today, so we seek to share this revolutionary technology with other battery manufacturers not only to maximize the benefits to our shareholders, but also to aid in solving a global industry problem."
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.
For more information, please contact:
Judith Mazvihwa-Maclean, CFO
Kimberly Darlington, Investor Relations
This News Release contains "forward-looking information" within the meaning of Canadian securities legislation. All information contained herein that is not clearly historical in nature may constitute forward-looking information. Generally, such forward-looking information can be identified by the use of forward-looking terminology such as "plans", "expects" "anticipates" or "does not anticipate", or "believes", or variations of such words and phrases or state that certain actions, events or results "may", "could", "would", "might" or "will be taken", "occur" or "be achieved". Forward-looking information is subject to known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance, or achievements of the Company to be materially different from those expressed or implied by such forward-looking information. Forward-looking information is based on assumptions management believes to be reasonable at the time such statements are made, including but not limited to, completion of the Transaction, completion of a private placement, receipt of required regulatory approvals, and such other assumptions and factors as set out herein. Although the Company has attempted to identify important factors that could cause actual results to differ materially from those contained in the forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such forward-looking information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such forward-looking information. Such forward-looking information has been provided for the purpose of assisting investors in understanding the Company's business and operations and may not be appropriate for other purposes. Accordingly, readers should not place undue reliance on forward-looking information. Forward-looking information is made as of the date of this News Release, and the Company does not undertake to update such forward-looking information except in accordance with applicable securities laws.
SOURCE:Braille Energy Systems Inc
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