Despite coming up with new High-Density Osprey Batteries, TANARIS POWER HLDGS INC (OTCMKTS:TPHX) gained little appreciation from the investors. The stock of the company tumbled down during the last session as the market is keen to hear more from the company.
Osprey HD Batteries
In a press release published last week, the company had said that it has initiated the development of the said high-density Osprey vehicle batteries. The company notified that the batteries will be based on Lithium-IOn cell technology that is employed in its Falcom HD batteries.
TANARIS POWER HLDGS INC (OTCMKTS:TPHX) has named the new line of batteries as “Osprey HD” series of batteries. In lines of Falcon HD batteries, the new Osprey batteries will also offer nearly 40% more energy as against the standard Osprey batteries. The company briefed that the Osprey range of batteries are developed for vehicle retrofit and other similar application, where standard batteries cannot be used.
The company expects the production and evaluation of the various configurations of these batteries to be ready during the fourth quarter of 2015. The company added that the batteries may be made available in various energy capacities ranging from 300-800 Ah.
Relieve End-User Price
On the development, TANARIS POWER HLDGS INC (OTCMKTS:TPHX)’s CEO Bruce Farmer expressed content for expanding the Osprey battery line. He added that the 40% higher energy efficiency is a big leap forward in scaling up the vehicle performance and capability. He said that the added density in the new range of Osprey batteries is significant for custom vehicle applications.
Also, he projected that TANARIS POWER HLDGS INC (OTCMKTS:TPHX) will be able to push down the number of battery modules by almost 50%, which should highly relieve the end-user price.
The stock of TANARIS POWER HLDGS INC (OTCMKTS:TPHX) brushed off almost 8% of its gains to settle at $0.320 during the last trading session. A total of 282,623 shares traded on the day.