Is Ultracharge about to take off on an electric scooter?

Israeli based battery technology company, Ultracharge (ASX:UTR) put itself into a trading halt (22/05/2018).

The announcement to the ASX said it was due to "a customer contract and a proposed capital raising."

CEO Of UltraCharge, Kobi Ben-Shabat, told InsideMarket, during our visit to Tel Aviv, that he was expecting a couple of orders in the next month or two, and that's about now.

None of this appears particularly startling on the surface but as InsideMarket discovered, when talking to the company's CEO in Israel, it could mean the start of something big.

Ultracharge has two types of lithium ion battery technology.

One offers a significantly faster charge, improved safety and longer life.

The second, is all about more power, and less of the highly expensive cobalt component found in traditional Li batteries.

Ben-Shabat told Editor & Founder of InsideMarket, Phil Carey, that he felt electric scooters and power tools might eventually open the door for the small cap company.

From our understanding of what the company needs to do to commercialize its technology, an order and a capital raising, could signal the next phase for Ultracharge.

The InsideMarket Private Fund does not currently owns shares in Ultracharge nor have we received any payment from the company. Nor do we recommend or advise to buy or sell UTR shares mentioned. UTR shares should be considered very speculative, high-risk, and very volatile. There are significant risks inherent in developing new technologies that are not discussed here. You should always seek professional advice before considering any share purchase or sale. Please read our full disclaimer here.