BioSolar Commences EV Battery Material Processing Technology Program
SANTA CLARITA, Calif., May 05, 2020 (GLOBE NEWSWIRE) -- BioSolar, Inc. (OTC:BSRC)(“BioSolar” or the “Company”), today provided an update from Chief Executive Officer David Lee, on the Company’s new
EV battery material processing technology program, as well as context regarding the market opportunity that BioSolar is pursuing within the EV battery supply chain.
While the Company had generally focused on energy storage technology and materials in the past, the Company is now evolving its technology effort to become a developer of battery technologies for the electric vehicle (EV) market. Leveraging the knowledge gained from its previous R&D efforts, BioSolar intends to develop technologies capable of increasing the storage capacity, lowering the cost and extending the life of lithium-ion batteries for EVs.
BioSolar’s product development strategy is designed to serve a critical role within the EV battery supply chain. As reported by the Wall Street Journal’s article “Why More Car Makers Are Following Tesla Into the Battery Business,” there is increased demand for battery components sought by auto manufacturers like GM, Volkswagen, and others who continue to make significant investments in their electric battery supply chain.
As its first step, BioSolar and its technology partner will develop a new material processing technology to produce Silicon Oxide Composite anode material. Silicon Oxide Composite Anode has recently received significant interest because of its superior cycle and calendar life performance. BioSolar anticipates that a new processing technology can be developed to produce a type of Silicon Oxide Composite anode material that will significantly lower the cost of lithium-ion batteries for EVs.
“While we are still experiencing shipping delays for equipment and materials required for the development work due to COVID-19, the preparation work is now under way,” said Dr. David Lee, CEO of BioSolar. “Our technology partner has evaluated many suppliers globally, identifying the best and most reliable sources. Orders have been placed to acquire initial set of equipment and material, and we will report on the progress as additional milestones for the project are achieved.”
About BioSolar, Inc.
BioSolar is developing breakthrough technologies to increase the storage capacity, lower the cost and extend the life of lithium-ion batteries for electric vehicles. The need for such breakthroughs
is critical to meet the expected demand of the rapidly growing global electric vehicle battery market, which is forecast to exceed $90 billion by 2025.
A lithium-ion battery contains two major parts, a lithium-filled cathode and a lithium-receiving anode, that function together as the positive and negative sides of the battery. BioSolar is
developing innovative technologies that will enable the use of inexpensive silicon as the anode material to create next generation high energy and high-power lithium-ion batteries for electric
Founded with the vision of developing breakthrough energy technologies, BioSolar's previous successes include the world's first UL approved bio-based backsheet for use in solar panels.
To learn more about BioSolar, please visit our website at http://www.biosolar.com.
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