Core Insights - Ormat Technologies Inc. has successfully commenced commercial operations at its Lower Rio energy storage facility, a 60MW/120MWh Battery Energy Storage System located in Texas, under a seven-year tolling agreement [1][2][3] - The company has entered a Hybrid Tax Equity partnership with Morgan Stanley Renewables, Inc. to monetize the 40% Investment Tax Credit (ITC) for the Lower Rio project, resulting in approximately $25 million in proceeds [2][3] - With the addition of the Lower Rio facility, Ormat's total capacity in the U.S. now stands at 350MW/778MWh, contributing to its strategic growth in the energy storage segment [2][4] Company Overview - Ormat Technologies is a leading geothermal and renewable energy company with over six decades of experience, focusing on geothermal and recovered energy generation [4] - The company operates a total generating portfolio of 1,618MW, which includes 1,268MW from geothermal and solar generation across various countries, and a 350MW energy storage portfolio in the U.S. [4] - Ormat aims to establish a leading position in the U.S. energy storage market, leveraging its core capabilities in geothermal and REG industries [4]

Company Participation in Financial Conferences - Flux Power Holdings, Inc. will participate in the H.C. Wainwright Annual Global Investment Conference on September 10, 2025, at Lotte NY Palace Hotel, New York, NY [1] - The company will also attend the Lake Street Big 9 Ideas Growth Conference on September 11, 2025, at The Yale Club, New York, NY [2] - CEO Krishna Vanka and CFO Kevin Royal will be available for meetings with registered attendees at both events [2] Company Overview - Flux Power designs, manufactures, and sells advanced lithium-ion energy storage solutions for various industrial and commercial sectors, including material handling and airport ground support equipment [3] - The company's lithium-ion battery packs offer a better performance, lower cost of ownership, and more environmentally friendly alternative compared to traditional lead-acid and propane-based solutions [3] - Flux Power's products contribute to reducing CO2 emissions and improving sustainability and ESG metrics for fleets [3]

Core Points - Ormat Technologies, Inc. has signed a 25-year extension to its existing power purchase agreement with the Southern California Public Power Authority for 52MW from the Heber 1 geothermal facility, effective February 2026 [1][2] - The Heber 1 power plant, a key asset for Ormat, will continue to provide clean, baseload geothermal energy to the Los Angeles Department of Water and Power and the Imperial Irrigation District, ensuring service through 2052 [2][4] - The agreement supports California's climate leadership and energy transition goals, providing reliable, affordable, and carbon-free energy to communities [3][4] Company Overview - Ormat Technologies is a leading geothermal and renewable energy company with over 60 years of experience, focusing on geothermal and recovered energy generation [5] - The company operates a total generating portfolio of 1,558MW, including 1,268MW from geothermal and solar generation, and a 290MW energy storage portfolio located in the U.S. [5] - Ormat is vertically integrated, involved in the design, manufacture, and operation of geothermal power plants, and is expanding into energy storage services and solar photovoltaic [5] Industry Context - The Southern California Public Power Authority serves over 5 million Californians and supplies 16% of California's power, emphasizing the importance of renewable energy sources [6][7] - The Los Angeles Department of Water and Power is the largest municipal utility in the U.S., with a capacity of 8,007MW, and is committed to diversifying its clean energy portfolio [8] - The Imperial Irrigation District is a significant public power provider in California, focusing on renewable energy development and maintaining low power rates [9]

Core Insights - Locksley Resources Limited has signed a strategic Research & Development Agreement with Rice University to develop domestic processing of U.S.-sourced antimony, marking the initiation of its U.S. Critical Minerals and Energy Resilience Strategy [1][2] - The collaboration aims to address a critical supply chain gap in the U.S. by developing pathways for antimony processing to meet domestic demand in defense and energy sectors [2][4] Company Overview - Locksley Resources is an Australian-based explorer focused on critical minerals and base metals, with significant assets in the U.S., particularly the Mojave Project in California, which targets rare earth elements and antimony [8] - The Mojave Project comprises over 250 claims and is strategically positioned to align with U.S. objectives for critical mineral independence and economic security, especially given the geopolitical urgency to diversify supply chains away from China [8] Research and Development Focus - The agreement includes two main research thrusts: - Thrust 1 focuses on green hydrometallurgical extraction of antimony from mining feedstocks, aiming to develop low-energy, environmentally friendly extraction processes [3][4] - Thrust 2 explores antimony-based materials for energy storage applications, including advanced electrode materials for lithium-ion and sodium-ion batteries [3][4] Strategic Importance - The integration of upstream development with downstream innovation presents a unique opportunity to establish a domestic mine-to-materials supply chain that aligns with U.S. strategic needs [4] - The collaboration is expected to unlock value from the Mojave Asset and contribute to securing critical supplies of antimony for defense, energy, and AI infrastructure sectors [3][4]

Energy Industry & Market Trends - Batteries supplied 27% of the power at peak demand in California [1] - The industry should recognize the massive benefits of solar + storage for "energy dominance" [1]

Group 1: ETF Inflows and Performance - ETFs across various categories attracted $38 billion in capital last week, bringing year-to-date inflows to $730 billion [1] - U.S. equity ETFs led inflows with $13.3 billion, followed by fixed income ETFs at $10.6 billion and international ETFs at $8.8 billion [1] - Wall Street experienced its second consecutive week of gains, with the Dow Jones increasing by 1.7%, while the S&P 500 and Nasdaq Composite Index rose by 0.9% and 0.8%, respectively [2] Group 2: Consumer Sentiment and Retail Sales - U.S. consumer sentiment declined in August, with the University of Michigan's consumer sentiment index falling to 58.6 from 61.7, indicating renewed inflation concerns [3] - Retail sales increased by 0.5% in July, suggesting that consumer spending has stabilized after a significant drop earlier in the year [3] Group 3: Individual ETF Highlights - **Invesco QQQ Trust (QQQ)**: The top asset creator with $6.6 billion in inflows, tracking the Nasdaq 100 Index, has an AUM of $373.6 billion and charges 20 bps in annual fees [4] - **Vanguard S&P 500 ETF (VOO)**: Gathered $3 billion in inflows, tracking the S&P 500 Index with an AUM of $732 billion and charging 3 bps in annual fees [5] - **ARK Innovation ETF (ARKK)**: Accumulated $2.7 billion, focusing on companies benefiting from technological advancements, with an AUM of $10 billion and charging 75 bps in fees [6] - **iShares Ethereum Trust ETF (ETHA)**: Saw inflows of $2.2 billion, reflecting Ethereum's price performance, with an AUM of $15.9 billion and charging 25 bps in annual fees [7] - **Vanguard Intermediate-Term Corporate Bond ETF (VCIT)**: Accumulated $1.6 billion, following the Bloomberg U.S. 5–10 Year Corporate Bond Index, with an AUM of $55.8 billion and an expense ratio of 0.03% [8][9]

Core Insights - Dragonfly Energy Holdings Corp. reported a strong second quarter with net sales increasing by 23% year-over-year, driven by a 50.6% growth in OEM sales despite economic uncertainties [2][4][6] - The company is focused on optimizing its operations and strengthening its balance sheet, which includes the recent exchange of preferred shares and a public offering to enhance financial flexibility [2][5][9] - For the third quarter, the company anticipates net sales of approximately $15.9 million, representing a projected 25% year-over-year increase [9][10] Financial Highlights - Net sales for the second quarter of 2025 were $16.2 million, compared to $13.2 million in the prior year, marking a 23% increase [4][6] - OEM sales reached $10.1 million, up from $6.7 million, while DTC sales decreased by 9% to $5.9 million due to macroeconomic pressures [4][6] - Gross profit increased by 45.4% to $4.6 million, with a gross margin expansion of 430 basis points to 28.3% [5][6] - Operating expenses decreased to $7.9 million from $9.9 million, primarily due to lower R&D costs [5][6] Loss and Adjusted EBITDA - The company reported a net loss of $(7.0) million, an improvement from a net loss of $(13.6) million in the previous year [7][28] - Adjusted EBITDA was $(2.2) million, compared to $(6.2) million in the prior year, indicating improved operational performance [6][7] Strategic Outlook - The company emphasizes the effectiveness of its strategic initiatives and the sustained market demand for its energy storage solutions [9] - Dragonfly Energy is well-positioned for continued growth, supported by deepening customer relationships and operational efficiency [9]

Company Overview - Dragonfly Energy has generated over $350 million in revenue from 2020 through Q2 2025[11], selling over 400,000 lithium-ion batteries[11] - The company has a domestic manufacturing footprint with a 400,000 sq ft Nevada facility[9] - Dragonfly Energy has secured over 90 patents granted, filed, or pending globally[55] Market Position and Growth - The company is a commercial leader in deep cycle lithium-ion energy storage solutions[15] - Dragonfly Energy is well-positioned in expanding, high-growth markets including RV, Marine, Off-Grid, Trucking, and Industrial sectors[16] - The company is targeting a total addressable market of $56.8 billion across its core markets[74] - The leisure electrification market size is $1.7 billion[35], the heavy-duty trucking market is $1.2 billion[37], and the industrial & remote power market is $53.9 billion[40] Financial Performance and Outlook - Q2 2025 net sales growth was 23% year-over-year to $16.2 million[70] - The company is targeting adjusted EBITDA breakeven by Q4 2025[70]

Core Insights - Cathie Wood's ARK ETFs have experienced a significant resurgence, attracting $3.7 billion in assets under management (AUM) over the past week, driven by record-breaking single-day inflows [1][2] - The ARK Innovation ETF (ARKK) led the inflow surge, with $1.1 billion on Monday and $1.4 billion on Tuesday, marking the largest single-day inflows since 2021 [2] - The year-to-date net inflows for ARK have turned positive, reaching $2.6 billion for 2025, with ARKK contributing $2.8 billion to this total [3] Fund Performance - ARKK has nearly doubled in value over three months, recovering from an April low of around $40, supported by strong performances from holdings like Coinbase, Roblox, and Shopify [4] - ARKW has also rebounded, currently trading just 13% below its 2021 peak, while ARKK is 50% below its peak [4] Market Dynamics - The inflow surge is partly attributed to renewed retail interest in "meme" and high-volatility stocks, reminiscent of the pandemic-era trading frenzy [5] - ARK's active investment strategy, which had faced challenges post-2021, is now better aligned with current innovation trends, boosting investor confidence [5] Investment Strategy - Cathie Wood remains optimistic about emerging technologies, emphasizing the acceleration towards innovation platforms such as AI, robotics, and blockchain [6] - ARK has actively purchased shares in Trade Desk after a significant price drop, marking its first buy since February, and has also invested in Block and Bullish, reflecting a focus on fintech and digital asset innovation [6][7] Fund Details - ARKK focuses on companies benefiting from technological advancements and holds 44 securities, charging 75 basis points in annual fees [9][10] - ARKW targets companies that will benefit from the shift to cloud technology and holds 46 stocks, with an annual fee of 82 basis points [11]

Financial Data and Key Metrics Changes - Revenue for Q3 2025 was $17.1 million, a 67% increase from $10.3 million in Q3 2024, with year-to-date revenue of $43.3 million compared to $33.1 million in the prior year, reflecting a 31% increase [16][17] - Adjusted EBITDA for Q3 2025 was $2.9 million, representing 17% of revenue, compared to $600,000 in the prior year [20][21] - The company achieved a net profit of CAD 0.9 million for Q3 2025, a significant improvement from a net loss of CAD 0.3 million in Q3 2024 [21] Business Line Data and Key Metrics Changes - The material handling sector continues to drive growth, with over $21 million in orders secured during the quarter, totaling over $65 million in the nine months ending June 30, 2025 [6][16] - The company is expanding into new verticals, including robotics and airport ground equipment, with significant shipments expected to start soon [10][34] Market Data and Key Metrics Changes - The robotics sector is experiencing rapid growth, with advancements in AI technologies and e-commerce driving demand for battery systems [9] - The defense sector is identified as a high-value growth opportunity, with ongoing collaborations with global defense contractors [13] Company Strategy and Development Direction - The company is focused on expanding manufacturing capabilities in Jamestown, New York, with production expected to commence by mid-next year [25] - Investments in domestic manufacturing and supply chains are prioritized to meet the needs of sensitive customers, particularly in the defense sector [26] - The company plans to launch specialized energy storage products and recurring revenue stream products in fiscal year 2026 [14] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in maintaining strong margins and continued revenue growth, with a positive outlook for Q4 and beyond [22][24] - The company is optimistic about the potential contributions from new verticals, although growth rates in these areas remain uncertain [71] Other Important Information - The company has received a cash inflow of $3.2 million from the execution of warrants, enhancing liquidity [23] - The company is actively developing a next-generation ceramic separator for its battery products, aimed at improving performance and reducing costs [27] Q&A Session Summary Question: How will the revenue makeup change in 2026 due to new verticals? - Management indicated that new verticals, particularly robotics and airport ground equipment, will significantly contribute to revenue in fiscal 2026, with shipments expected to start soon [33][34] Question: Is the customer makeup similar in new verticals as in material handling? - Most new customers are OEMs, similar to the material handling space, with some overlap in energy storage solutions [36] Question: What is the status of energy storage products? - A separate launch for energy storage products is planned soon, with deployments expected in calendar year 2026 [42][43] Question: What is the capacity addition status in Mississauga and Jamestown? - A second shift has been added in Mississauga, and operations in Jamestown are growing to meet increased order intake [47] Question: What is the outlook for order momentum in Q4? - Order intake has continued to be strong, particularly from key end customers, providing confidence for future growth [49] Question: What is the company's approach to the robotics market? - The company is engaged with several large OEMs in the robotics sector, focusing on battery systems for warehouse and factory applications [56][104] Question: What is the status of the solid-state battery R&D? - The company is investing in improving lab conditions to enhance solid-state battery performance, targeting applications in aerospace and drones [110]