would like to highlight Galenfeha, Inc.
), an engineering, product development, and manufacturing company that provides innovative solutions for oil and natural gas production, as well as stored energy products across a number of different industries. The company provides these products and services through its stored energy and oil & gas division.
In the company’s news:
While Tesla Motors, Inc. (TSLA) continues to make headlines with the rapid growth and development of its new battery grid business – with recent estimates forecasting $45 million in sales during the fourth quarter of this year – the resulting rise in demand for reliable battery systems is providing a platform for strong financial growth across the stored energy industry. Galenfeha, Inc. (OTC: GLFH), through the commercialization of its innovative lithium iron phosphate (LiFePO4) chemistry and patent-pending onboard battery management system, is capitalizing on this opportunity, expanding upon its current customer base through potentially lucrative distribution channels.
Last month, Galenfeha utilized this strategy to great success by partnering with ABB Group, a global leader in power and automation technologies. Through this agreement, the company expects to significantly expand its existing customer base while promoting improved financial returns in the months to come.
“It is a privilege to be represented in ABB’s product offerings,” Lucien Marioneaux, Jr., president and chief executive officer of Galenfeha, stated in a news release. “This affiliation will enable Galenfeha to significantly broaden its customer base locally, nationally, even internationally, and we couldn’t be more pleased with this development.”
Traditional lead-acid batteries have a collection of disadvantages that limit their effectiveness in most stored power applications – including inefficient charging and discharging, the production of gas byproducts during charging and heavy, bulky construction. Galenfeha’s proprietary LiFePO4 chemistry and onboard battery management system addresses each of these disadvantages, providing a light-weight, environmentally-friendly alternative with excellent thermal stability and an improved lifespan.
For solar power generation, these benefits can translate into significant cost savings for the company’s customers. In addition to eliminating the need for a solar regulator, Galenfeha’s battery management system increases charging efficiency, allowing for the use of smaller, more cost-effective solar panels.
In the first quarter of 2015, Galenfeha provided a preview of its tremendous market potential, recording a 173 percent quarter-over-quarter increase in total revenue on the way to a gross profit of approximately $122,000. For prospective shareholders, these results could foreshadow an opportunity for the company to promote sustainable returns moving forward. Look for Galenfeha to continue leaning on its groundbreaking product portfolio in order to build upon its recent progress toward expanding its customer base in the years to come.
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This release may contain forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. All forward-looking statements are inherently uncertain as they are based on current expectations and assumptions concerning future events or future performance of the company. Readers are cautioned not to place undue reliance on these forward-looking statements, which are only predictions and speak only as of the date hereof. Risks and uncertainties applicable to the company and its business could cause the company's actual results to differ materially from those indicated in any forward-looking statements.