Balqon Corporation (OTCBB: BLQN), an emerging developer and manufacturer of zero emissions heavy-duty electric vehicles, energy storage products and electric drive systems, recently announced a number of developments that have potential to help unlock shareholder value in the near and long-term as electric vehicles continue to gain prominence.
CEO Balwinder Samra Explains Balqon’s Niche
Balqon Corporation’s Chief Executive Officer Balwinder Samra recently presented at the EV Expo 2012 in Tampa Bay, Florida on February 21 to 23, 2012. In this video shot at the conference, the CEO outlines how his company created and now fills the niche as the only manufacturer of heavy duty, short haul electric yard tractors for moving 30 ton shipping containers, worldwide.
LA Harbor Awards Balqon Additional Contract
The Los Angeles Board of Harbor Commissioners reallocated a federal grant to upgrade six yard tractors with lithium-ion batteries after the original contractor hired to convert the tractors to hydrogen fuel cells missed a deadline to complete the work, according to an article in Daily Breeze.com. The contract is worth an estimated $630,000 to Balqon Corporation.
Department of Energy Grant May Benefit Balqon
According to a recent article in AutoBlog’s Green Energy section, the U.S. Department of Energy may fund $10 million for electric truck and forklift development with the goal of further cutting petroleum use by the domestic transportation sector. Companies will have until May 15th to submit applications and award recipients will be announced by September 30th.