Adomani Inc (OTCMKTS: ADOM) continues to move steadily higher in recent weeks emerging as a volume leader regularly topping $500,000 in daily dollar volume. The move on ADOM is marked by steady accumulation and a fast growing shareholder base that continues to bid ADOM higher.
It’s easy to get excited about ADOM here; the Company has been around for years and used to trade on the big boards and is emerging as a revenue powerhouse in small caps reporting $12.6 million in sales for the year ended December 31, 2019 representing a more than 100% increase from the year before.
Adomani Inc (OTCMKTS: ADOM) is a provider of new zero-emission electric vehicles and is a provider of zero-emission electric drivetrain systems for integration in medium to heavy-duty commercial fleet vehicles, as well as re-power conversion kits for the replacement of drivetrain systems in combustion-powered vehicles. ADOMANI’s zero-emission electric vehicles are focused on reducing the total cost of vehicle ownership and help fleet operators unlock the benefits of green technology and address the challenges of traditional fuel price instability and local, state and federal environmental regulatory compliance.
Adomani is also a provider of advanced zero-emission electric drivetrain systems for integration in new buses and medium to heavy-duty commercial fleet vehicles. Adomani provide re-power conversion kits to replace conventional drivetrain systems for combustion powered vehicles with zero-emission electric drivetrain systems. The Companies vehicles and drivetrain systems are designed to help fleet operators unlock the benefits of technology that reduces greenhouse gases , nitrous oxide particulate matter and other pollutants, as well as to address the challenges of local, state and federal regulatory compliance and traditional-fuel price cost instability.
The Companies vehicles and drivetrain systems can include options for telemetrics for remote monitoring, electric power-export and various levels of grid-connectivity. Adomani zero-emission products may also grow to include automated charging infrastructure and “intelligent” stationary energy storage that enables fast vehicle charging, emergency back-up facility power, and access to the developing, grid-connected opportunities for the aggregate power available from groups of large battery packs.
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Adomani Inc has emerged as a revenue powerhouse in small caps reporting $12.6 million in sales for the year ended December 31, 2019 representing a more than 100% increase from the year before. In March ADOM announced its results for the fourth quarter and full year ended December 31, 2019 reporting sales of approximately $2.0 million for the quarter.
ADOM started moving in June after the Company announced the sale of an all-electric, zero-emission logistics van to SnowCap Community Charities in Fairview, Oregon. SnowCap received funding through the Drive Change Fund from local utility Portland General Electric (PGE) for both the purchase of an electric vehicle and the required infrastructure to charge the vehicle. Initially the organization’s plan was to purchase an electric conversion vehicle. However, another company was not able to deliver, and SnowCap contacted ADOMANI for a new all-electric vehicle. “The timing could not be better,” said Doug Lollar, Sales Director for ADOMANI. “We have inventory due to the lack of HVIP funding availability in California and it was easy to pivot and redirect the electric van to a state that could fulfill their funding promise,” Lollar continued.
Jim Reynolds, CEO for ADOMANI stated: “Unlike our competitors, we have inventory and customers. It is unfortunate that the California HVIP funding is tied-up with companies that can’t deliver. That said, we have been pivoting aggressively, and are honored to be able to sell one of our outstanding, technologically advanced, environmentally clean all-electric vans to SnowCap. They are an outstanding citizen of their community, and we are thrilled to become an enthusiastic, long-term partner to help them take care of so many people in need. We also applaud Portland General Electric for their visionary Drive Change Fund, which will help so many other worthy organizations like SnowCap electrify their fleets for the betterment of the Portland community. We look forward to becoming a long-term, enthusiastic partner to many more commercial, government and nonprofit customers across Portland and all of Oregon looking to electrify their fleets.”
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Currently trading at a $17 million market valuation ADOM is an exciting story developing in small caps; the Company is fully funded moving forward with solid financials and they have been around for years and used to trade on the big boards. ADOM operates in the booming EV space and is emerging as a revenue powerhouse in small caps reporting $12.6 million in sales for the year ended December 31, 2019 representing a more than 100% increase from the year before. We will be updating on ADOM when more details emerge so make sure you are subscribed to Microcapdaily so you know what’s going on with ADOM.
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Disclosure: we hold no position in ADOM either long or short and we have not been compensated for this article.