Berylline Corporation Investor Update August 25, 2020
Dear Berylline Investor:
Thank you for your trust in Berylline! It has been 20 months since we completed our Series A funding in December 2018. We have some exciting news to share with you on our latest development.
The Berylline Team has been busy! In February 2019, our team completed a product feasibility study focusing on two new product categories: The all new Berylline 3 wheel Electric scooter and the Berylline Hybrid Golf Concept Cart. Our primary objective is to bring these products to market as soon as possible, starting with the electric scooter by the end of this year, followed by the hybrid golf cart in the near future.
Berylline Hybrid Golf Concept Cart
Berylline’s primary focus will be to continue engineering & development efforts relating to electric and hybrid technology applications. The hybrid golf cart is one of our future product expansion. In December 2019, Only 9 months after the team set the goal to develop a hybrid golf cart, the Hybrid Concept Golf Cart chassis prototype is completed. This concept vehicle was based upon an existing golf cart chassis with hybrid engineering integration from our R&D group. We removed the Lead Acid battery, added a high density 5KW Li-ion battery and a high efficiency 125cc gasoline generator.
The Li-ion battery and 125cc gasoline engine formed a serial hybrid system that worked in harmony to provide 3 modes: EV, Hybrid and Generator. When in EV mode, the Berylline golf cart is very quiet allowing the driver to enjoy a comfortable driving experience without engine related noise. While operating in the hybrid mode, the high efficiency 125cc gas engine supplies power to the Li-ion battery allowing the vehicle to travel 100 miles on a single charge. In the generator mode the hybrid golf cart can be utilized as an emergency power supply during power disruption. It can provide 2000w of electric power, enough to power essential house hold appliances.
Early this year, we were working expeditiously on the golf cart, however, due the Covid-19, we were pretty much stopped in our tracks. The good news is that we are up and running again and expect to complete the concept hybrid golf cart show model by the end of October. Berylline’s intention is to utilize the concept cart to validate the golf cart market and its sustainability.
Berylline 3-Wheel Electric Scooter
This brand new 3 wheel electric scooter is developed on technology from our current F2A hybrid scooter chassis. At 60 inches wide and 85 inches in length, Berylline’s 3 Wheel Electric Scooter is a fun, one passenger personal transportation vehicle. It is powered by a 3KW electric motor, with a top speed of 43 MPH and can travel up to 50 miles in a single charge. No maintenance, just twist the throttle and GO! It is also equipped with ample luggage space, so you can pack your things and go anywhere!
By working with our global partners and investors, Berylline uses proven technology and manufacturing techniques that enable us to save tremendous capital, while still maintain a very high degree of quality. It also allow us to bring this new exciting product line to the market in a very short timeframe.
We plan to have 10 units available for sale by end of this year. Our primary goal remains the same; to bring a variety of Hybrid and electric vehicles to market as soon as possible.
Doohan iTank Electric Scooter
Doohan Technology is a high-tech enterprise established collaboratively by traditional a motorcycle maker and famous large-scale investment institutions in 2014. Integrated with innovative technology and craftsmanship, they are dedicated in developing smart electric vehicles. The Doohan iTank is an all new 3 wheel tilting electric scooter with automotive grade quality.
Berylline and Doohan are working on exclusive agreement to market iTank in US market. The first shipment of 18 Doohan iTank scooters arrived at Berylline on August 24, 2020. We plan to market this unique scooter in Florida with our partner and regional distributor Battery Boys Inc. It should be available for customer purchase by end of September this year. This new product should generate positive revenue and cash flow for Berylline!
3 Wheel Scooter Future Product Development Plan
We expect to sell all of our first entries the Berylline 3-Wheel E Scooter quickly and plan to ramp up production in 2021 to meet demand. In addition, we will continue to market iTank scooter as a parallel path. Those 2 products should provide Berylline solid financial base, which will allow us to work on our next generation 2-passengers hybrid 3-wheel scooter with improved performance characteristics, reaching a top speed of 60MPH and a driving range of 200 miles. We believe we can have this highly anticipated Hybrid Scooter ready for production and sale during the 2023 calendar year, and plan to achieve all vehicle annual sales volume around 5,000 units by 2024.
Berylline’s Hybrid Golf Cart Plan
Our market analysis reveals a tremendous potential for the Hybrid Golf Cart that the Berylline team has been working
on. This unique golf cart can be used in a variety of transportation industries that we have already identified, as well as personal pleasure and golf. The golf cart market currently exceeds $1 billion and has been increasing steadily. However, the range for the electric only version is limited to about 25-45 miles and the gas version is noisy around the golf course.
The Berylline Hybrid Golf Cart is a perfect solution, solving both of these issues. We believe this product line may have global appeal as well for the urban transportation. We are very close to completing our first concept show model and are excited about the potential this product line exhibits. Berylline team has decided using a 3 phase approach for the hybrid golf cart:
1. Phase 1: Develop a high density, high powered Li-Ion battery that can be utilized on the majority of existing golf carts. The cost of these batteries have continuously dropped over the past several years as a direct result of the auto makers pushing more electric powered vehicles. Our analysis indicates that this is an opportune time to accelerate activity in this arena. We plan to complete development of this new Li-Ion battery and market it by end of year 2022. This project should generate a good amount of cash flow for the company.
2. At phase 2, Berylline will develop specific technology relating to an a new all electric golf cart. Most golf carts today still use 1950’s technology, but we envision a state of the art golf cart incorporating power steering and 4 wheel disc brakes with ABS. This new cart will be designed primarily for use with an Li-Ion battery, but will also be receptive to add our gasoline generator to form a hybrid system.
3. Berylline will incorporate proven Honda generator technology into our drive system which will enable the hybrid system for our golf cart. We estimate at least 1,000 units per year in sales is very achievable.
Thank you for your support and joining us in this exciting and challenging journey!
We look forward to keeping you updated with our progress.
Be safe and stay healthy!