NEW YORK, September 7, 2016 /PRNewswire/ --

Our priorities regarding our energy sources are shifting due to innovation in new energy technology sectors are growing rapidly. One of the most interesting sectors of development has been the lithium-ion batteries market, which is already being used in a wide array of applications. Recently published research on the global battery energy storage market for smart grid by Technavio, a research company which focuses on emerging market trends, claims that the li-ion batteries segment is projected to reach 3,130 MW by 2020, growing at a CAGR of close to 72%. Tesla Motors Inc. (NASDAQ: TSLA), Oakridge Global Energy Solutions, Inc. (OTCQB: OGES), AES Corp (NYSE: AES), FMC Corp (NYSE: FMC), Albemarle Corporation (NYSE: ALB)

The challenge to produce lithium-ion batteries on mass production levels have been associated with high production costs. Companies like Tesla Motors Inc. (NASDAQ: TSLA) however, invested heavily in innovation and production of such batteries, have helped to bring the cost down. Tesla's goal is to reach the price of USD100/kWh by 2020, which is expected to boost the Li-ion battery market significantly.

These batteries can be used in a variety of ways, and small companies like Oakridge Global Energy Solutions, Inc. (OTCQB: OGES) are developing smart energy cells for military, civilian and medical uses. Oakridge Global Energy Solutions have several battery lines: the Pro Series for Golf Cars and the Patriot Series for the high-end hobby market, which have now been followed by the Freedom Series for living space power storage applications, and the Liberty Series of lightweight, highly powerful starter motor batteries for motorcycles, jet skis, snowmobiles, boats, cars and trucks. Last month the company announced it has purchased state-of-the-art Lithium-ion battery manufacturing equipment worth $1.2 million USD.

Oakridge Global Energy Solutions, Inc. just announced it has established a joint venture with Toyo-System of Japan for the design and manufacture of state-of-the-art battery management systems for its Generation 2 Smart Energy Cell range. Steve Barber, CEO and Executive Chairman of Oakridge, said: "Our joint venture with Toyo-System of Japan further extends the important strategic alliances with our Japanese partners as part of our commitment to excellence in the pursuit of world-leading technologies for incorporation into our game-changing Generation II Smart Energy Cells. Toyo-System is a leader in providing innovative solutions for the Lithium Ion battery market, and this new relationship will enable us, together, to design and manufacture the highest quality battery management systems for our Smart Energy Cells which optimize their functionality and performance. It greatly enhances Oakridge's ability to deliver a world-class, cutting-edge product."

AES Corp (NYSE: AES) operates a diversified portfolio of electricity generation and distribution businesses. The company is an example of how storage lithium batteries can play a role is helping powering our cities. Earlier this summer AES signed a contract with Southern California Edison to provide the world's largest storage lithium-ion battery which will be capable of holding and delivering over 100 megawatts of power an hour for four hours. The goal is to replace the traditional gas plant and help southern California to keep peak loads in control. The plant will come on line in 2021.

FMC Corp (NYSE: FMC) is a diversified chemical company serving agricultural, consumer and industrial markets. The Company operates through three business segments: FMC Agricultural Solutions, FMC Health and Nutrition, and FMC Lithium. FMC is consistently innovating when it comes to lithium batteries, to find better ways to meet world's growing demand for longer lasting batteries for tablets, phones, power tools, EV cars and power plants. Company's shares are up 20% year to date.

The increasing need for lithium means benefit for supplier. Albemarle Corporation (NYSE: ALB) is a developer, manufacturer and marketer of specialty chemicals across a range of end markets, and according to Forbes is one of four huge conglomerates that control much of the world's lithium supply. In 2015 the company acquired Rockwood Holdings, parent company of Rockwood Lithium for $6.2 billion. Currently Albemarle is trading near all-time highs.

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