BSLBATT RECEIVES $1.65M REPLACEMENT ORDER FOR YALE, TOYOTA JUNGHEINRICH, NICHIYU AND STILL FORKLIFT BATTERIES

BSLBATT battery, a rapidly growing hi-tech company, is at the forefront of the lithium-ion technology revolution. With a staggering year-on-year growth rate of 200%, we are disrupting the long-established lead-acid battery market by designing, manufacturing, and selling cutting-edge lithium-ion battery packs. 

Exciting news! We are thrilled to announce that we have recently received a substantial battery purchase order through our BSLBATT sales channel, amounting to approximately US$1.65 million. This order has been placed by a prominent forklift dealer company, who will utilize our batteries to power end customers in various industries such as Material Handling, Paper and Packaging, Food and Beverage, Refrigerated Storage, Manufacturing Industry, Fresh Produce, Wine Industry, Distribution, and 3PL. These batteries will be deployed in a brand new distribution center located in the South East Asia region.

This purchase order comes as a result of our previous announcement on November 24, 2022, confirming the receipt of a 30% deposit from the customer to initiate production. The specific details of the purchase order, including the battery model and delivery location, can be found in the accompanying figure.

We are committed to delivering excellence, and we anticipate fulfilling this order within our fiscal fourth quarter, which concludes on December 31, 2022.

WHAT MADE THE CUSTOMER DECIDE TO REPLACE THE LEAD-ACID BATTERY ON THE ORIGINAL FORKLIFT?

Jenny Zeng explains that trucks using lead-acid batteries typically follow a cycle of 8 hours of usage, 8 hours of charging, and 8 hours of cooling per day. This is necessary to maintain the acid levels and fulfill other maintenance requirements. When done correctly, this process ensures the longevity of lead-acid batteries. However, if not handled with care, issues such as short battery life, sulfation, and acid leakage may arise. Unlike lead-acid batteries, lithium-ion batteries do not require such extensive maintenance. Furthermore, the charging room in the warehouse needs air conditioning and ventilation fans to minimize the release of toxic gases during the charging of lead-acid batteries. This is not a concern with lithium-ion batteries. Jenny Zeng emphasizes that the worries about corrosive acids are eliminated, as well as the need to handle and switch batteries at the beginning and end of each shift. With lithium-ion batteries, the charging room can be utilized to its maximum potential, rather than just being an overhead space.

Other benefits of lithium-ion batteries include:

Increased flexibility in charging times: Lithium-ion batteries allow for "opportunistic charging," meaning they can be charged anywhere, even during short breaks like lunchtime.

No maintenance during off-season: Unlike other batteries, lithium-ion batteries can be turned off and left idle for 3-9 months without any significant power loss. They can then be easily turned on and put to use again.

Rapid charging: Lithium-ion batteries can be fully charged in 2 hours or less, and they do not suffer from the "memory effect" that can reduce battery capacity over time.

In terms of performance:

Consistent lifting and travel speeds: Lithium-ion batteries maintain fast lifting and travel speeds regardless of the battery's discharge level, as there is no voltage drop.

Single battery operation with multi-shift charging: A single lithium-ion battery can be used for multiple shifts, as it can be charged quickly during breaks or shift changes.

Long service life: Lithium-ion batteries have a service life of over 3,500 cycles, which is significantly longer than lead-acid batteries.

In terms of cost savings:

Extended service life: Lithium-ion batteries have a longer expected service life compared to lead-acid batteries, lasting at least twice as long. This means that a lithium-ion battery forklift lease can last for two three-year leases, and even after that, the battery can still be repurposed or used in second-hand equipment.

Minimal routine maintenance: Lithium-ion batteries require no routine maintenance, reducing the overall maintenance costs associated with forklift operations.

Reduced wear and tear: The use of lithium-ion batteries can minimize wear and tear on forklift parts, leading to lower repair and replacement costs.