Braille Energy Systems Completes the First Year of its Four Year Deal as the Exclusive Supplier of Approved Batteries for the Verizon IndyCar Series
OTTAWA, Sept. 12, 2018 (GLOBE NEWSWIRE) -- Braille Energy Systems Inc. (formerly Mincom Capital Inc.) (TSX-V : BES) (“BESI” or “Braille” or the “Company”) is pleased to announce the successful completion of the first year as the exclusive supplier of approved batteries for the Verizon IndyCar Series. Braille Battery Inc. is owned 100% by Braille Holdings Inc. and BESI, formerly Mincom Capital Inc., purchased 89.95% equity interest in Braille Holdings Inc. For more details on the transaction, please refer to www.sedar.com.
In June 2017, Braille Battery was selected to design and manufacture the bespoke lithium Batteries to power Verizon IndyCar Series vehicles. With a successful 2017/2018 season secured, Braille is poised to continue supplying innovative energy solutions as it heads into the 2018/2019 season for its second of four year deal with this high-performance series.
Lindsay Weatherdon, President of Braille Battery states: “We are extremely proud of our affiliation with this high energy, high-performance series. It represents a perfect partnership for our proven track record as an innovative supplier of energy storage solutions. We were born into racing and continue to build on these roots so that we can evolve our successes on-track to meet the energy demands of off-track vehicles and applications.”
About Braille Energy Systems Inc.
Braille Energy Systems Inc. holds 89.95% equity interest in Braille Holdings Inc., which holds a 100% equity interest in Braille Battery Inc. Braille Battery is an established battery manufacturing and energy storage company supplying batteries to the professional motor sports industry and the pioneer of a complete line of lightweight high powered battery systems for the transportation market. Braille Energy Systems (BESI) will expand its market penetration into a wider range of market segments that require light weight, high-performing energy solutions, using the most scientifically advanced materials. Markets need better performing energy storage solutions to satisfy the huge growth expected in many different sectors like electric vehicles, solar and wind energy storage as well as portable electronic devices. With two manufacturing locations in North America, BESI will provide customers with security of supply, off-the-shelf shipments and superior service.
BESI will penetrate key market segments with superior product performance utilizing graphene based materials.
Disclaimer & Forward Looking Statement
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Certain information included in this press release is forward-looking and may involve risks and uncertainties. The results or events predicted in these statements may differ materially from actual results or events. Factors that might cause a difference include, but are not limited to, competitive developments, risks associated with Braille Energy Systems Inc.'s growth, the state of the financial markets, regulatory risks and other factors. Forward-looking statements included or incorporated by reference in this press release include statements with respect to proposed terms of the private placement transaction. There can be no assurance that any statements of forward-looking information contained in this release will prove to be accurate. Actual results and future events could differ materially from those anticipated in such statements. These and all subsequent written and oral statements containing forward-looking information are based on the estimates and opinions of management on the dates they are made and expressly qualified in their entirety by this notice. Unless otherwise required by applicable securities laws, Braille Energy Systems Inc. disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise. Readers are cautioned not to place undue reliance on any statements of forward-looking information that speak only as of the date of this release. More detailed information about potential factors that could affect Braille Energy Systems Inc.'s financial and business results is included in public documents Braille Energy Systems Inc. files from time to time with Canadian securities regulatory authorities and which are available at www.sedar.com.
Braille Energy Systems Inc. Judith Mazvihwa-MacLean CFO 613-447-8521 jmazvihwa@mincomcapital.com
