BioSolar, Inc. (OTCQB:BSRC)(“BioSolar” or the “Company”), a developer of breakthrough energy storage technology and materials, announced Tuesday that the Company has commenced the engineering phase of its silicon (Si) alloy anode material technology development, a milestone achievement that comes amid reports of further development within the high-growth lithium-ion battery market.
The engineering phase focuses on designing and testing the electrodes based on the Company’s Si alloy anode material, as well as full cell design and evaluation with commercially available high capacity cathodes. Innovation within the lithium-ion battery industry, still quite dominant as a means of powering electric cars and storing energy produced by renewable sources, is expected to establish itself as a $77.42 billion market by 2024.
BioSolar’s laboratory test results demonstrate that lithium-ion batteries incorporating BioSolar’s Si alloy anode can achieve significantly higher capacity than the conventional graphite anode. Further, the Company’s anode material costs less when compared to other Si anodes currently on the market. These results are very promising because the tests were conducted using the Company’s laboratory scale Si alloy anode materials, as compared to commercially available, market-used Si anode materials.
“Entering engineering phase development is a very important milestone for the Company, one that provides us the platform to engage and hopefully collaborate with manufacturing and development partners,” said Dr. David Lee, CEO of BioSolar. “We are confident that our approach will continue to demonstrate not only higher performance but also better price points, strengthening its commercial viability and market potential.”
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