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PROFILE
Balqon Corporation is a leading developer of heavy duty electric trucks, tractors and electric drive systems. The Company uses its proprietary flux vector motor technology to design propulsion systems for 10 to 50 ton capacity vehicles and material handling equipment. Balqon Corporation’s current product line of tow tractors are designed to transport containers at ports, marine terminals, rail yards, warehouses, intermodal facilities, military bases and mail facilities.
| WHY INVEST |
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- Balqon Corporation is a leading developer of heavy duty electric trucks, tractors and electric drive systems.
- Balqon has over 10 years of experience in the design and development of AC drive systems for mining vehicles, buses, delivery trucks and monorails.
- Balqon Corporation announces record revenue growth in 2009. Revenues for 2009 were $3,598,752, an increase of $3,395,092, or 1,667%, over revenues of $203,660 for 2008. The increase in net revenues in 2009 is a direct result of the ramp up of Balqon's business in 2009 during which sales of our vehicles and parts increased by $3,148,798 over 2008.
- Balqon believe that the growth in their revenues in 2009 validates their ability to commercialize their core drive system technologies and meet the growing needs of the zero emission vehicle markets they serve.
- The successful implementation of higher range lithium-ion batteries into their heavy duty vehicles and development of proprietary battery management system are examples of Balqon's ability to develop and implement new technologies while generating record revenue growth.
- Balqon's modular drive system design reduces WIP (Work-In-Process) cycle times which increases inventory turns resulting in a capital efficient business model.
- Balqon has a 15,500 sq. ft. manufacturing facility with capacity to assembly 700 units per year.
- Balqon is the only Company with field tested products in production for Heavy duty Class 7 and 8 applications.
- Balqon's has a strategic partnership with Autocar LLC for Yard tractor and Class 8 vehicle Chassis
- Balqon has proprietary software and diagnostic system which provides customization across multiple vehicle platforms.
- Between February 2, 2010 and April 12, 2010, Balqon raised $1,500,000 through the sale of its convertible notes and warrants to accredited investors in a private placement transaction. The proceeds of $1,500,000 have been allocated to general working capital.
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