World News: 14:00 GMT Tuesday 14th January 2020. [KORE Power via Globe Newswire via SPi World News]
COEUR D'ALENE, Idaho, Jan. 14, 2020 (GLOBE NEWSWIRE) -- , a leading manufacturer of high density, high voltage energy storage solutions, today announced that it received impressive performance and efficiency testing results related to the lithium-ion cells used in its Mark 1™ energy storage system. Novonix Battery Testing Services, Inc. ( “NOVONIX,” a subsidiary of Novonix Ltd. (ASX: NVX)), an expert in the field of battery materials evaluation and design, delivered the initial test results to KORE Power.
NOVONIX tested several aspects of KORE Power’s battery cell performance characteristics and found the following:
NOVONIX used its state of the art High Precision Coulometry (HPC) testing to diagnose battery chemistry stability and to demonstrate the lifetime of KORE Power's Mark 1 cells in early cycles. The company's cells have achieved superior coulombic efficiency when cycling to 4.2V and 4.3V, enabling higher energy density with minimal lifetime penalty. Coulombic efficiency is the primary metric examined for performance; values closer to 1.000 should have a longer cycle life. KORE Power's cells are currently performing above 0.999.
“We are thrilled with the outcome of the first testing results on KORE Power’s Mark 1 cells. When comparing the coulombic efficiency, KORE Power’s cells outperformed those from industry-leading manufacturers, an outcome that will position it ahead of other cells in the market as these cells are typically used in energy storage applications where long-term performance is required. We are looking forward to continuing our collaboration and to advancing the Mark 1 cell’s performance,” said Chris Burns, President and Chief Executive Officer of NOVONIX.
“We are very pleased to see that our time and capital investment in material science has resulted in state of the art cells with higher energy density and efficiency,” said Nan Wu, Chief Technical Officer of KORE Power. “Thanks to the HPC testing technique offered by NOVONIX and the long-term collaboration between our two companies, we have established a new baseline for future technological advancements.”
“KORE Power is thrilled about the testing results received from NOVONIX to date and these results further validate the capabilities of our manufacturing partner and our supply chain,” said Lindsay Gorrill, Chief Executive Officer of KORE Power. “We look forward to continued testing by NOVONIX, which will enable us to evaluate and enhance the performance of our Mark 1 lithium-ion battery chemistry.”
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Based in Coeur d’Alene, Idaho, KORE Power is a leading developer of high density, high voltage energy storage solutions for utility, industrial and mission-critical markets. KORE Power designs and manufactures the industry-leading, 1500V Mark 1™ Energy Storage System. Developed to lower installation and operation costs with higher efficiency, the Mark 1 includes proprietary NMC cells and modules, with innovative safety features, managed and optimized by the Mark 1 BMS. KORE Power serves the growing demand for applications such as replacing fossil fuel peaker plants, wind and solar plus storage projects, Microgrid optimization, behind-the-meter C&I, E-Mobility, mining energy solutions and the Military.
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Certain statements contained herein constitute forward-looking statements, including but not limited to statements about the expectations and applications for the use, efficiency and longevity of battery cells. All statements included herein, other than statements of historical fact, are forward-looking information and such information involves various risks and uncertainties. KORE Lithium Technologies, Inc. (“KORE Power”) believes the expectations reflected in these forward-looking statements are reasonable, but no assurance can be given that these expectations will prove to be correct and such forward-looking statements in this news release should not be unduly relied upon. Forward-looking statements included in this news release are made as of the date of this news release and KORE Power disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as expressly required by applicable securities legislation.
Globe Newswire: 14:00 GMT Tuesday 14th January 2020
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