Bullish signal detected as Greenland Technologies Holding (GTEC) RSI Indicator left the oversold zone on February 22, 2023
Keep in mind GTEC has a tiny public float of around 6M shares. The average daily volume for GTEC is nearly non-existent at around 30K shares. Revenues in the trailing twelve months of over $94M and net profits over $5M.
Autonomous All-Electric Forklifts
The partners say they will bring scalable, reliable, and secure autonomous vehicle technologies to industrial applications.
By Robotics 24/7 Staff – February 4, 2022
Cyngn Inc. and Greenland Technologies Holding Corp. yesterday announced a strategic partnership in which Cyngn will add its self-driving capabilities to Greenland forklifts with its proprietary Enterprise Autonomy Suite, or EAS.
Integration of EAS will enable the forklifts to switch between fully autonomous, manual, and remotely-controlled modes, said the companies.
“Currently, there are over 850,000 forklifts operating in the United States alone,” stated Lior Tal, chairman and CEO of Cyngn. “Greenland is a recognized leader in the electric industrial vehicle and equipment space, and this partnership provides an important opportunity to bring self-driving capabilities to this widely-used and ubiquitous vehicle type.”
Cyngn offers autonomy RaaS
Menlo Park, Calif.-based Cyngn said it provides autonomous vehicle (AV) technology to address today’s industrial challenges. They include labor shortages, lagging technological advancements from incumbents, and high upfront investment requirements. Cyngn went public in October 2021.
The company’s Enterprise Autonomy Suite includes the DriveMod modular autonomous driving software and Cyngn Insight, a customer-facing software suite for monitoring and managing fleets and aggregating and analyzing data.
EAS also includes Cyngn Evolve, an internal toolkit that enables Cyngn to use data from the field for artificial intelligence, simulation, and modeling.
Cyngn offers technologies in a robotics-as-a-service (RaaS) model. It has also partnered with Airbiquity Inc. and Columbia Vehicle Group to automate their existing vehicle fleets.
In the coming months, Cyngn said it plans to bring self-driving capabilities to Greenland’s other vehicles, an electric loader and an electric excavator. FULL ARTICLE
Imagine the time and labor costs that could be saved there!
We will be back with more soon,
Original coverage below
We have an alert here that checks all the boxes. We’re very surprised that this one is still flying under retail investors radar. However, institutions have been quietly accumulating.
This is a “Green” NASDAQ play with increasing institutional and insider ownership. Net profitable, increasing revenues, very low float (Approx. 5M Shares) and great chart setup for potential gains.
Greenland Technologies Holding Corporation (NASDAQ: GTEC) a technology developer and manufacturer of electric industrial vehicles and drivetrain systems for material handling machineries and vehicles.
Company Description from Greenland’s Website
“We imagine a world where the industrial sector emits zero emissions.
That’s why we set out to be the first US company to fully electrify their heavy equipment range.
Though electrification is slowly gaining support globally through the sales of EVs, we’ve noticed that industries like Construction, Waste Management, and Agriculture are lacking in sustainable, emissions-free equipment options. That’s why we’re taking the first pioneering steps towards complete industrial electrification. Unlike our competitors, however, we have leveraged our manufacturing systems to produce the first commercially-available electric heavy equipment in the United States.
Our innovative manufacturing capability, technology and expertise make HEVI the dependable choice, delivering precision and power at scale. Not only do HEVI machines have the power, functionality, and reliability required by heavy industrial work, they’re all-electric.
We invite you to become a trailblazer and help electrify industry in America.”
November 2022 – HEVI and Cyngn To Develop New Tech For Electric Vehicles
Many companies that utilize industrial heavy equipment such as front loaders and excavators struggle with efficient management of their fleet. Difficulty with asset tracking, transportation, safe operation and routine maintenance can create costly logistical and safety challenges. Fortunately, new technology exists that empower fleet managers with the ability to properly manage their fleet assets to overcome these challenges. On January 2022, HEVI and Cyngn began a partnership to develop new technology to support fleet operations. This technology will create value and enhance HEVI’s product offering of electric loaders, electric excavators and electric forklifts. Read on to learn more about the technology being developed through the HEVI Cyngn partnership.
Many companies that utilize industrial equipment such as front loaders, excavators and forklifts will operate on multiple job sites at once. As a result, it can be difficult for companies to track all of their expensive and valuable equipment. Consequently, this can lead to costly and avoidable oversight mistakes and redundant asset movements. Fortunately, GPS asset tracking solutions have become readily available and affordable to integrate into any existing fleet. These units will help you monitor your heavy equipment such as HEVI’s all electric front loaders and excavators whether they are on a remote job site or back in your depot. All HEVI electric industrial heavy equipment come equipped with the CYNGN GPS asset tracker, Infinitracker, and a 3 year subscription. The Infinitracker GPS asset tracker on all HEVI products will help companies stay safe, compliant and efficient by providing real-time equipment data, journey and location.
The Cyngn Infinitracker utilizes GPS, 5G, and LTE to track HEVI assets everywhere. Every unit comes equipped with a lithium battery that can last up to fifteen years. Built-in sensors will accurately monitor location, temperate and other equipment conditions. Best of all, the Infinitracker can track other Bluetooth-enabled IoT devices and relay the data from these devices to a cloud based central hub. Thus, companies will have the capability to customize the data to fit their needs across an endless list of applications.
Autonomous Fleet Management
More companies are exploring technology to autonomous their heavy and warehouse machinery to increase site productivity. Without a doubt, implementation of autonomy yields key benefits with immediate results. Benefits such as, increased profitability, scalability, adaptability, and safety. Early adopters of site autonomy are carving out a competitive advantage and setting new industry process standards. According to a recent report from Sapio Research, in some industries, industrial automation has been shown to increase productivity by 48%, and decrease operating costs by 42%.
Through the HEVI and Cyngn partnership, they will bring its self-driving vehicle capabilities to HEVI electric forklifts, electric loaders and electric excavators with Cyngn’s proprietary Enterprise Autonomy Suite (EAS). Integration of EAS will enable HEVI products to switch easily between fully autonomous, manual, and remotely-controlled modes. Organizations that leverage this autonomous vehicle technology also gain access to a breadth of analytics and software tools to generate operational insights and optimizations.
Based in Menlo Park, California, CYNGN develops and deploys scalable, differentiated autonomous vehicle technology for industrial organizations. Cyngn’s self-driving solutions allow existing workforces to increase productivity and efficiency. The Company addresses significant challenges facing industrial organizations today, such as labor shortages, costly safety incidents, and increased consumer demand for eCommerce. Their products and services include the Cyngn DriveMod Kit, the Enterprise Autonomy Suite, Cyngn Insightand Evolve and the Infinitracker. Please visit https://cyngn.com/ to learn more about Cyngn’s autonomous vehicle technologies.
CEO Quote From the Sequire Technology Investor Conference
Raymond Wang, CEO of Greenland, commented, “Our team continues to make significant progress on all fronts, anchored by our industry leading product roadmap and our planned U.S. capacity expansion. We are benefitting from strong customer engagement, favorable government incentives and growing momentum in the broader adoption of energy efficient, climate friendly, electric industrial vehicles. We look forward to updating investors on our recent results and the extensive opportunities ahead as we focus on building value for all shareholders.”
HEVI Equipment Qualifies for NJ Manufacturing Incentives
Announced on December 13, 2022, the New Jersey Economic Development Authority (NJEDA) established the New Jersey Manufacturing Voucher Program (MVP). As a result, many New Jersey-based businesses are looking for environmentally conscious solutions to help their operations qualify for the incentives brought by these programs. With heavy equipment being a major component in manufacturing, and with diesel alone not qualifying for these sustainability-based programs, companies find themselves needing the alternate fuel solutions, such as electric. HEVI’s all-electric heavy equipment line will be that qualifying solution. Full Article
GTEC Statistics – Note* Institutional ownership has increased 447% over the last 3 months
Current Price – $2.09/Share (a/o the close on 2-22-22)
Market Cap – 30.24M Revenue Trailing Twelve Months (TTM) – $94.64M
Revenue per share (TTM) – $8.21 EBITDA – $10.03M
Quarterly Earnings Growth (YOY) – 24.3%
Total Cash Most Recent Quarter (MRQ) – $23.55M
Total Liabilities (MRQ) – $13.26M
Book Value Per Share (MRQ) – $5.61
Shares Outstanding – 12.98M Shares in the Float – 4.89M
Insider Ownership – 52.91%
Institutional Ownership – 10.7%
Year Over Year Revenue Growth
GTEC Chart Flashing Oversold
That should get everyone started with their due diligence. We will be back with an updated report on GTEC soon.
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