World News: 08:30 GMT Tuesday 3rd December 2019. [BioSolar, Inc. via Globe Newswire via SPi World News]
SANTA CLARITA, Calif., Dec. 03, 2019 (GLOBE NEWSWIRE) -- BioSolar, Inc. (OTCQB:BSRC)(“BioSolar” or the “Company”), a developer of breakthrough energy storage technology and materials, today provided an update from Chief Executive Officer Dr. David Lee, outlining corporate milestones of 2019, as well as next steps to establish longer term commercial viability. “BioSolar has made significant progress towards its goal of developing technologies to increase the storage capacity, lower the cost and extend the life of lithium-ion batteries, the objectives for the majority of consumer and commercial energy storage applications in high growth markets,” said Dr. Lee. “Our success will be measured by two key initiatives: one on the technology development side, and the second being our ability to form meaningful, mutually beneficial relationships with the right partners. We believe both objectives are each on their respective track for success, and are excited for what we expect to be an eventful 2020.” BioSolar achieved a number of milestones thus far in 2019, including but not limited to:
There are a number of key objectives that BioSolar seeks to achieve moving forward in its quest to reach commercialization. They include:
Dr. Lee concluded, “While we have certain milestones to achieve and challenges to overcome, we are very optimistic about bringing BioSolar technologies to market in coming years. As high-growth industries continue to adopt new and improved lithium-ion battery technologies, the market opportunity is tremendous for a solution like ours, hopefully resulting in customer adoption and revenue generation.”
BioSolar is developing a breakthrough technology to increase the storage capacity, lower the cost and extend the life of lithium-ion batteries. A battery contains two major parts, a cathode and an anode, that function together as the positive and negative sides. BioSolar is currently investigating high capacity anode materials recognizing the fact that the overall battery capacity is determined by combination of both cathode and anode. By integrating BioSolar's high capacity anode, battery manufacturers will be able to create a super lithium-ion battery that can double the range of a Tesla, power an iPhone for two days straight, or store daytime solar energy for nighttime use. Founded with the vision of developing breakthrough energy technologies, BioSolar's previous successes include the world's first UL approved bio-based back sheet for use in solar panels.
To learn more about BioSolar, please visit our website at .
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.
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Globe Newswire: 08:30 GMT Tuesday 3rd December 2019
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