TANARIS POWER HLDGS INC (OTCMKTS:TPHX) said that Tanaris Power Inc. commenced development of HD Osprey vehicle batteries, based on the high density “Lithium-Ion cell technology.” It is the same technology that will be implemented in its Falcon HD batteries.
Tanaris Power stated that its new product line of vehicle batteries will be termed as the “Osprey HD” series. They will offer almost 40% more energy density as against the standard Osprey batteries. The batteries are well designed specifically for vehicle retrofit and related custom uses, where standard batteries are not functional. The company confirmed that several configurations of Osprey HD batteries will be made ready for production and assessment during 4Q2015, and they will be available in varying energy capacities in a range of 300 Ah to over 800 Ah.
The expert view
Bruce Farmer, the Chief Executive of Tanaris Power, said that the management is very thrilled to expand the product line of Osprey batteries with the new advanced HD models. As it stands true with the company’s Falcon HD batteries, the extra 40% energy capacity benefit is an important step in achieving superior performance and enhanced capability.
Farmer further added that the additional energy density is particularly significant in custom vehicle uses, where there is less space available to work with. It is applicable while designing custom batteries to be used in vehicle retrofit applications. In several applications, Tanaris expects to minimize the number of battery modules by almost 50%. It will help to reduce the end-user price of the custom batteries.
In last trading session, the stock price of Tanaris declined more than 26% to close the trading session at $0.390. In last few trading session, the stock price dropped sharply due to the ongoing promotional emails. The compensation as stated for the promotional pumps of $600,000.