CEO David Lee Highlights the Company’s Technology Development, Formation of Partnerships, Expanded Market Opportunity, and Next Steps for Commercialization
Santa Clarita, CA – December 19, 2017 – BioSolar, Inc. (OTCQB:BSRC)(“BioSolar” or the “Company”), a developer of breakthrough energy storage technology and materials, today provided a Company update from its Chief Executive Officer, Dr. David Lee.
Silicon (Si) represents one of the more promising anode materials considered for next generation, high energy and high power lithium ion batteries. However, Si anodes suffer from large capacity fading and tremendous changes in volume during lithium-ion charge-discharge cycling, which results in short battery life. As such, while there have been many attempts over the years to make commercial use of silicon for battery anodes, all of the known approaches have their own fundamental obstacles that still prevent them from taking advantage of silicon’s full theoretical capacity. These are the primary challenges to the commercial use of Si for battery anodes, a game-changing industry hurdle that BioSolar intends to overcome.
“This year our team 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 David Lee, CEO of BioSolar.
BioSolar has made notable key achievements during 2017, including but not limited to:
· Successfully completed the laboratory phase of its silicon nanocomposite alloy anode material technology development. With data that suggests its technology can achieve significantly higher capacity at reduced costs, the Company commenced the process of identifying potential strategic partners for commercial development of its proprietary battery technology.
· Signed a Joint Development Agreement with Top Battery, a leading lithium-ion battery manufacturer. Top Battery possesses experience in incorporating technologies such as BioSolar’s anode material, and in designing and manufacturing lithium-ion electrodes, cells and battery systems for customers. BioSolar and Top Battery have agreed to ongoing, collaborative efforts to assess, develop, manufacture, and/or market high power high energy lithium ion batteries integrating BioSolar technology and Top Battery technology.
· Developed a proprietary additive technology that has the potential to improve all types of silicon anode materials, including Si carbon composite, Si oxide type, and Si alloys. This breakthrough created multiple paths to commercialization for the Company’s technology – a standalone Si lithium nanocomposite anode, as well as performance boosting additives for other Si anode manufacturers.
· Demonstrated that the Company’s additive technology exhibited significant improvement in battery capacity and capacity retention when applied to Si anodes made from Si micro-particles, a form of raw silicon that is more cost effective than Si nano-particles. The lithium-ion battery industry has long sought to replace Si nano-particle material with Si micro-particle material which will reduce cost and increase the bottom line for manufacturers. Seeking to fill this market void, the evaluation of BioSolar’s Si additive technology with anodes made from Si micro-particle materials was facilitated by a global Si material supplier who provided commercially available Si micro-particle materials.
There are multiple key objectives that BioSolar seeks to achieve moving forward in its quest to reach commercialization. They include but are not limited to:
· Establishing additional new relationships with raw Si battery material providers to further improve the effectiveness of the Company’s Si additive technology using various forms of raw Si materials.
· Further performing experiments to identify additional performance enhancements for BioSolar’s proprietary additive technology that has the potential to improve all types of Si anode materials
· Continue working with technology development partners to build and demonstrate success for commercial grade Li-ion batteries incorporating the Company’s Si anode material and additive technologies.
· Begin identifying and seeking long-term relationships with the end user of the Li-ion batteries, such as power tool, consumer electronics, and EV manufacturers who may wish to incorporate BioSolar’s Si anode additive technologies into their products.
“While we still have certain milestones to achieve and challenges to overcome, we are very optimistic about bringing our technologies to market in coming years. As high-growth industries continue to adopt lithium ion battery technology, the market opportunity is tremendous for a solution that increases storage capacity, lowers cost, and extends the life of lithium-ion batteries. We believe that having the necessary battery technology in place will only spur further innovation in many sectors, especially for renewables, which will also reduce carbon footprint and have a significant impact on global,” concluded Dr. Lee.
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 initially focused its development effort on high capacity cathode materials since most of today's Li-ion batteries are "cathode limited." With the goal of creating the company's next generation super battery technology, 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 cathode or 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.