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Sorry for the autocorrect on Sankar that corrected to Sandra! If anyone can get slides or has attended one of these meetings, it would be helpful to know the crowds at the booth, the "mood" of the buyers in terms of the Li Ion market and the things prospective buyers are looking for and could see as an obstacle. We need the "fly on the wall".
To date, not many posts about shareholder meetings or conferences have given us this perspective, except maybe the Montreal meeting I attended earlier this year. I once tried to get a local person in Miljobil Grenland to check up on the ferry progress and thoughts in Norway, but was disappointed to learn that no one in the local area had anything to report and did not know about the project. It would be nice to tour Litarion one day and see the action first hand. I can do that with Dollarama or Couche Tarde but I wish I could see the fruits of Electrovaya first hand. I am encouraged that new forklifts will have the Electrovaya brand on them. That's a big thing, in my opinion, that we see more Electrovaya labels on things they are involved with.
Speaking from London, CEO interviewed on Bloomberg. Maybe something important in London?
http://www.bloomberg.com/news/videos/2016-12-06/canadian-firm-gives-tesla-a-run-for-its-money
In the Nov. 29, 2016 SEDAR AIF filing, Leclanche is listed as a competitor. Leclanche won the Ontario project which made me see them as a competitor ever since that time, despite some of their past use of Litarion products. The AIF is also, finally, clear about MoUs so we can move forward from here. I was disappointed to see that, at one point, I owned more shares than most of the directors combined, except, of course, the CEO. I wish this was more evenly distributed amongst the directors or offspring.
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Stationary Energy Storage. Competition includes manufacturers and system integrators. We compete primarily with LG Chem, Panasonic, Tesla, SAFT, BYD, NEC, Samsung, SK Innovation, Toshiba, Leclanche, Mercedes Benz, GE and others.
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Letters of Intent and Memorandums of Understanding Entered into by Electrovaya are non- binding and no definitive agreements may be executed
Non-binding letters of intent and memorandum of understanding (“MoUs”) entered into by Electrovaya are subject to a number of risks including: (i) the arrangements are still in the negotiation phase and there is no assurance a definitive agreement will be reached or if reached, such agreement will be on the same terms as disclosed in the MoU, (ii) product specifications have not yet been agreed and thus Electrovaya cannot enter into a definitive agreement nor commence deliveries until the product specifications are agreed and a definitive arrangement is signed; (iii) no sales are assured under the MoUs and no firm irrevocable commitments have been obtained from the potential customer; and (iv) the MoUs and any definitive agreement entered into in furtherance thereof, may be subject to the same risk factors as the Contracts.
Fascinating how coating a nanowire with polymethymethacrylate (PMMA) can give the wire 200,000 charge cycles. This will extend the cycles of every battery. Now add in a better separator and Electrovaya still has an advantage.
https://news.uci.edu/research/all-powered-up/
It's probably time for M&A in this space. Gitanjali has said in IR forums that you can for all the players in the Li ion battery space in one room. Yet, they all struggle to bid for the same contracts and companies like Tesla, Leclanche and Electrovaya have all posted quarterly losses. Sankar just said he had offers and likely won't sell and has no cash to buy. I still wonder if it's better for EFL to be on its own or under TSLA, GE, Apple (though they may already have a car battery partner), Sony, Samsung or even Google (who is working on a driverless car).
Sorry I wasn't clear. I meant other than the ones already announced, it has been a while since we have heard of any new multimuillion dollar deals. I want to see people lining up to deal with them, so if one of the projects does not get done, they can ditch it and move on to the next client. I am wishing for higher demand so the margins can be protected as well.
Agreed. The problem with EFL is that we can't predict the earnings. We have 2 quarters of delayed income from the 2 MOUs:
1) http://www.electrovaya.com/pdf/PR/2016/PR20160413.pdf
2) http://www.plant.ca/general/155103-155103/
In the latest update, we are told that these may not come in or be at their full amount. On the other hand, Separion's value is underestimated, as is the overall value of the company, such that the market cap is low compared to it's value. 2017 matters because management will be tested more than ever before. Sankar is on record expecting $200M and profitability though I am still concerned that we see no other MOUs or LOIs in the pipeline. Q4 could disappoint and that could be priced in but 2017 is pivotal for this company.