SOURCE: Oakridge Global Energy Solutions, Inc.

Oakridge Global Energy Solutions, Inc.

November 30, 2015 08:30 ET

Oakridge Global Energy Solutions Announces Q3 Results

MELBOURNE, FL--(Marketwired - Nov 30, 2015) - Oakridge Global Energy Solutions, Inc. (OTCQB: OGES) is pleased to announce its third-quarter results for the three months ended September 30, 2015, during which the company made significant advances on its new manufacturing facility.

Total company assets for the third quarter of 2015 exceed USD$76.0 million, while liabilities are reported at slightly more than $2.75 million. Over the course of the next 18 months Oakridge plans to continue to strengthen its balance sheet, and ramp-up and install more than 2.6 gigawatt-hours of production capacity of U.S. manufacturing of electrodes, cells and batteries in its facilities located in the Brevard County, Florida area, known as the Space Coast. 

"During the process of restructuring this business we had the opportunity to purchase a major supply of equipment and have continued to develop I/P in the battery space," says Oakridge executive chairman and CEO, Steve Barber. "We are very pleased with the third-quarter results and expect the fourth-quarter results to be even better. Our business plan is simple; we develop, manufacture and sell products. I know it's a bit old fashioned, but we are in the business of manufacturing."

The third quarter 2015 earnings report may be viewed at http://www.otcmarkets.com/financialReportViewer?symbol=OGES&id=147767

Notably, in the third quarter, Barber has, through the majority ownership of Oakridge by Precept Fund Management SPC ("Precept"), funded the creation of a major full-scale manufacturing facility for Oakridge in Brevard County, Florida, in Melbourne and Palm Bay, which greatly contributes to the company's current strengthened position in the broader battery industry.

"Our third-quarter results reflect the significant investment that Precept has made into this exciting business," says Barber. "From development of products to purchase of manufacturing equipment, this business is now fully operational and poised for growth."

About Oakridge Global Energy Solutions, Inc.

Oakridge Global Energy Solutions Inc. is an integrated energy storage solutions company that uses state-of-the-art technology in the design, development and manufacture of high-quality cells, batteries, and energy storage systems. The company's innovative 'Made in the USA' product line includes multiple lithium-ion chemistries, technologies and form factors that are optimized to address multiple high-demand target markets.

Operating out of a new 68,000 sq. ft. facility for corporate offices and manufacturing, Oakridge Global Energy Solutions currently has a market cap of just over $140,000,000 USD and plans to ramp up and install more than 2.6 Gigawatt-hours of production capacity over the next 16 months. Additional information can be accessed on the company's website www.oakg.net.

Forward-Looking Statements Disclaimer: This press release contains 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. In some cases, you can identify forward-looking statements by the following words: "anticipate," "believe," "continue," "could," "estimate," "expect," "intend," "may," "ongoing," "plan," "potential," "predict," "project," "should," "will," "would," or the negative of these terms or other comparable terminology, although not all forward-looking statements contain these words. Forward-looking statements are not a guarantee of future performance or results, and will not necessarily be accurate indications of the times at, or by, which such performance or results will be achieved. Forward-looking statements are based on information available at the time the statements are made and involve known and unknown risks, uncertainties and other factors that may cause our results, levels of activity, performance or achievements to be materially different from the information expressed or implied by the forward-looking statements in this press release. This press release should be considered in light of all filings of the Company that are contained in the Edgar Archives of the Securities and Exchange Commission at www.sec.gov.

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