World News: 08:30 GMT Tuesday 14th January 2020. [BioSolar, Inc. via Globe Newswire via SPi World News]
SANTA CLARITA, Calif., Jan. 14, 2020 (GLOBE NEWSWIRE) -- BioSolar, Inc. (OTCQB:BSRC)(“BioSolar” or the “Company”), today announced that its technology partner has commenced production and testing of the second batch of commercial-grade prototype 21700 lithium-ion cells incorporating additional cell design work. Once completed, the prototype batteries will be sent to potential manufacturing and development partners for their in-house qualification testing and analysis.
BioSolar’s core focus is the application of its performance-boosting additive technology to the emerging category of silicon anode lithium-ion battery cells which, in this instance, are in the form of 21700 lithium-ion cells for power tools. BioSolar is currently preparing two different types of commercial grade 21700 prototype cells, the first based on the use of silicon alloy anode material comprised of Si micro-particles (Si-MP), and the second based on the use of pure silicon anode material comprised of Si nano-particles (Si-NP). The primary difference between the two is that the dimensions of Si-MP particles are much larger than those of Si-NP.
As the cell develops and hopefully demonstrates commercial viability in a power tool application, BioSolar intends to leverage the knowledge gained from these R&D efforts in battery design and manufacturing to develop lithium-ion battery technologies for electric vehicles. The demand for batteries capable of increasing the storage capacity while lowering the cost and extending the life is significant, considering the .
“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,” said Dr. David Lee, CEO of BioSolar. “The objectives for the majority of consumer and commercial energy storage applications in high growth markets depend on the advancement of battery technologies. This clear trend led us to transition our focus and technology to meet the needs of the electric vehicle category – one of the largest and most exciting market opportunities on the horizon.”
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 UL approved bio-based backsheet 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.
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.
Globe Newswire: 08:30 GMT Tuesday 14th January 2020
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