Uptick Newswire Hosts CellCube Energy Storage Systems Inc. to Discuss its Spinout Entity V23 Resources Corp. and Project Growth in 2019
To listen to the entire interview, follow this link: https://upticknewswire.com/featured-interview-ceo-mike-neylan-of-cellcube-energy-storage-sys-inc-otcqb-cecbf-3/
Toronto, Dec. 26th, 2018 -- Uptick Newswire Stock Day Podcast features CellCube Energy Storage Systems Inc. the "Company") (CUBE.CN) (CECBF) (Frankfurt: 01X) (WKN:A2JMGP), which is focused on the fast-growing energy storage industry which is driven by the large increase in demand for renewable energy. CEO, Mike Neylan, joined Stock Day’s host Everett Jolly to discuss the Company’s projected growth in 2019, as well as the addition of V23 Resource Corporation.
Jolly began the interview by mentioning that the Company is no longer in a pre-revenue state, and asked Neylan to bring listeners up-to-speed on their vanadium-based technologies and upcoming goals for the Company.
Neylan explained that Nevada is extremely rich is vanadium deposits, and that the price of this material has skyrocketed over the last year. While the Company uses vanadium as a key ingredient in their batteries, they also understand the value of selling the property on its own. To achieve this, the Company is creating a separate entity called V23 Resource Corp.
Neylan further explained that this poses significant benefits for current shareholders, “We’ll provide a share distribution back to our current shareholders as of a set record date. So, if you’re a shareholder by this date, you’ll be able to participate in this share distribution.”
Neylan added, “I can only emphasize, just with the strength of the vanadium prices, what a great opportunity this is to participate in.” Neylan also explained that the rise in demand for vanadium is due in part by Chinese regulations, as well as the interest in vanadium for use in batteries.
Jolly then noted that the last two quarters for the Company have been extremely profitable, and inquired about the first and second quarters of 2019. “All we are seeing is continued growth, and great expectation for the market for energy storage.”, answered Neylan. “The demand is so tremendous.”, added Neylan. He further noted that the size of these projects are larger scale, and the pipeline of potential sales is continuing to expand.
Jolly mentioned that the Company recently raised a substantial amount of funds, and asked Neylan what the intention for these funds are. Neylan explained that for the most part this money will be used for working capital, but also mentioned that these will also be used to enhance their sales staff and manufacturing. “Really we’re talking about growth-based spending.”, stated Neylan.
“We are ahead of the curve in terms of any form of vanadium-flow batteries.”, stated Neylan when explaining why the Company is a great investment for shareholders. Neylan also looked to the first and second quarters of 2019, and closed the interview by sharing his excitement for the Company’s upcoming growth.
About CellCube Energy Storage Systems Inc.
CellCube is a Canadian public company listed on the Canadian Securities Exchange (symbol CUBE), the OTCBB (symbol CECBF), and the Frankfurt Exchange (Symbol 01X,WKN A2JMGP) focused on the fast-growing energy storage industry which is driven by the large increase in demand for renewable energy.
CellCube supplies vertically integrated energy storage systems to the power industry and recently acquired the assets of Gildemeister Energy Storage GmbH, now Enerox GmbH the developer and manufacturer of CellCube energy storage systems. CellCube recently acquired EnerCube Switchgear Systems (formerly Jet Power and Controls Ltd.) and Power Haz Energy Mobile Solutions Inc. (formerly HillCroft Consulting Ltd.) and has also invested in an online renewable energy financing platform, Braggawatt Energy Inc.
CellCube develops, manufactures, and markets energy storage systems on the basis of vanadium redox flow technology and has over 130 project installations and a 10 year operational track record. Its highly integrated energy storage System solutions features 99% residual energy capacity after 11,000 cycles with the focus on larger scale containerized modules. Basic building blocks consist of a 250kW unit family with 4, 6 and 8 hours variation in energy capacity.
On Behalf of CellCube Energy Storage Systems Inc.,
Mike Neylan, CEO, Director
For further information, please contact:
Glenda Kelly, Investor Communications
Telephone: (800 )882-3213
This news release contains certain "forward-looking statements" within the meaning of Canadian securities legislation. Forward-looking statements are statements that are not historical facts which address events, results, outcomes or developments that the Company expects to occur; they are generally, but not always, identified by the words "expects", "plans", "anticipates", "believes", "intends", "estimates", "projects", "aims", "potential", "goal", "objective", "prospective", and similar expressions, or that events or conditions "will", "would", "may", "can", "could" or "should" occur. Forward-looking statements are based on the beliefs, estimates and opinions of the Company's management on the date the statements are made and they involve a number of risks and uncertainties. Certain material assumptions regarding such forward-looking statements are discussed in this news release and the Company's annual and quarterly management's discussion and analysis filed at www.sedar.com. Except as required by the securities disclosure laws and regulations applicable to the Company, the Company undertakes no obligation to update these forward-looking statements if management's beliefs, estimates or opinions, or other factors, should change.
Neither the CSE nor its Regulation Services Provider (as that term is defined in the policies of the CSE) accepts responsibility for the adequacy or accuracy of this release.