BioSolar Provides Updates on Its EV Battery Solution
SANTA CLARITA, Calif., Sept. 15, 2020 (GLOBE NEWSWIRE) -- BioSolar, Inc. (OTC:BSRC) (“BioSolar” or the “Company”), a developer of breakthrough energy storage technology and materials, today
reported on the status of its Silicon Oxide Composite technology program, one designed to meet the global automotive need for better batteries and is focused on increasing storage capacity,
extending life and lowering cost.
The first development phase, Material Design and Selection, started with the selection of baseline materials to establish initial performance benchmark before adjustments are made. These materials are subjected to proposed manufacturing processes to produce Silicon Oxide Composite anode materials. Half-cell prototype batteries are then constructed to obtain battery performance characteristics including first cycle efficiency and capacity fading over extended cycles. This step also includes electrochemical analysis of the materials and process adjustments to further improve the key battery material characteristics.
“We have recently completed the first step of the Material Design and Selection phase for the Silicon Oxide Composite Processing technology program,” said Dr. David Lee, CEO of BioSolar. “This process will be repeated until desired anode material properties are obtained and verified by battery performance data before moving onto the next phase. In the next development phase, researchers will focus on optimization and improvement of the manufacturing process to produce the Silicon Oxide Composite anode material.”
The Silicon Oxide Composite anode has generated significant interest of late because of its superior cycle and calendar life performance. BioSolar and its partner are currently developing a new processing technology to produce a type of Silicon Oxide Composite anode material that will also significantly lower the cost of lithium-ion batteries for EVs. Pursuit by prominent automotive brands as well as battery manufacturers recently was reflected in a recent report stating the global electric vehicle battery market would reach $87 billion by 2027.
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 vehicles.
Founded with the vision of developing breakthrough energy technologies, BioSolar's previous successes include the world's first bio-based backsheet for use in solar panels.
To learn more about BioSolar, please visit our website at http://www.biosolar.com.
Safe Harbor Statement
Matters discussed in this press release contain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. When used in this press release, the words "anticipate," "believe," "estimate," "may," "intend," "expect" and similar expressions identify such forward-looking statements. Actual results, performance or achievements could differ materially from those contemplated, expressed or implied by the forward-looking statements contained herein. These forward-looking statements are based largely on the expectations of the Company and are subject to a number of risks and uncertainties. These include, but are not limited to, risks and uncertainties associated with: the impact of economic, competitive and other factors affecting the Company and its operations, markets, product, and distributor performance, the impact on the national and local economies resulting from terrorist actions, and U.S. actions subsequently; and other factors detailed in reports filed by the Company with the United Stated Securities and Exchange Commission.
Any forward-looking statement made by us in this press release is based only on information currently available to us and speaks only as of the date on which it is made. We undertake no obligation to publicly update any forward-looking statement, whether written or oral, that may be made from time to time, whether as a result of new information, future developments or otherwise.
Investor Relations Contact:
BioSolar Aktie jetzt über den Testsieger (Finanztest 11/2020) handeln, ab 0 € auf Smartbroker.de