OTTAWA, Nov. 08, 2018 (GLOBE NEWSWIRE) — Braille Energy Systems Inc. (formerly Mincom Capital Inc.) (TSX-V : BES) (“BESI” or “Braille” or the “Company”) is pleased to announce the opening of a second manufacturing facility located in Kingston, Ontario, Canada to expand its manufacturing capacity to energy storage solutions built to meet demands outside of the Performance Automotive Industry. Braille Battery Inc. is owned 100% by Braille Holdings Inc. and BESI, formerly Mincom Capital Inc., purchased 89.95% equity interest in Braille Holdings Inc. For more details on the transaction, please refer to www.sedar.com.
With forecasts calling for the global demand for energy storage to double six times from 2017 to 2030, the investment in the energy storage space is estimated to be $103 billion over the same time period1. Driven by growing need for efficient and effective energy storage solutions across a number of industries from Motorsport to Marine, Avionics to Mining, Medical to Military and Rail to Back Up and Standby – Braille Battery is extremely excited to expand its manufacturing capabilities with its new facility in Kingston, Ontario Canada. With an established foundation in providing innovative energy storage solutions for the Performance Automotive Industry, Braille Battery is building on its expertise to help build out an array of innovative energy storage solutions for these key industries with growing energy demands.
With contracts already in place to provide lithium batteries for commercial drones and OEM batteries for a military vehicle manufacturer, Braille Battery is ready to start production immediately to serve the growing demand for innovative energy solution in Canada, the USA and around the globe.
Lindsay Weatherdon, President of Braille Battery states: “We’re extremely excited to be in Kingston, Ontario. Not only is the city one of the most historic in Canada, but the site of our facility carries a rich history of innovative manufacturing which we look forward to continuing this tradition. Equally important, is the fact that Kingston is ideally positioned – providing easy access to Highway 401 which is one of the most critical transport arteries in Canada and it also sits within close proximity to the Canada-US border. This will allow us to ship the next generation of energy storage solutions to meet growing demand across a wide array of industries – wherever they are.”
About Braille Energy Systems Inc.
Braille Energy Systems Inc. holds a 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 light weight, high-performing energy solutions, using the most scientifically advanced materials.
Markets need better performing energy storage solutions to satisfy the huge growth expected in many different sectors like electric vehicles, solar and wind energy storage as well as portable electronic devices. With two manufacturing locations in North America, BESI will provide customers with security of supply, off-the-shelf shipments and superior service.
BESI will penetrate key market segments with superior product performance utilizing graphene based materials.
Disclaimer & Forward Looking Statement
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Certain information included in this press release is forward-looking and may involve risks and uncertainties. The results or events predicted in these statements may differ materially from actual results or events. Factors that might cause a difference include, but are not limited to, competitive developments, risks associated with Mincom’s growth, the state of the financial markets, regulatory risks and other factors. Forward-looking statements included or incorporated by reference in this press release include statements with respect to proposed terms of the private placement transaction. There can be no assurance that any statements of forward-looking information contained in this release will prove to be accurate. Actual results and future events could differ materially from those anticipated in such statements. These and all subsequent written and oral statements containing forward-looking information are based on the estimates and opinions of management on the dates they are made and expressly qualified in their entirety by this notice. Unless otherwise required by applicable securities laws, Mincom disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise. Readers are cautioned not to place undue reliance on any statements of forward-looking information that speak only as of the date of this release. More detailed information about potential factors that could affect Mincom’s financial and business results is included in public documents Mincom files from time to time with Canadian securities regulatory authorities and which are available at www.sedar.com.
Braille Energy Systems Inc.
Judith Mazvihwa-MacLean
CFO
613-447-8521
[email protected]
