SANTA CLARITA, Calif., Oct. 22, 2019 (GLOBE NEWSWIRE) — BioSolar, Inc. (OTCQB:BSRC) (“BioSolar” or the “Company”), a developer of breakthrough energy storage technology and materials, today announced that the Company’s material manufacturing partner has prepared a new batch of anode materials incorporating US-produced performance boosting silicon additives. The anode materials will be used for the next phase of prototype lithium-ion batteries in upcoming months by the Company’s cell manufacturing partner based in Asia.
The new batch of silicon anode materials are being closely examined by the Company’s technology team to detect and remedy, if necessary, potential material quality gaps that can occur during different phases of material and cell preparation. The Company will also build and test its own small size battery with the new anode material before its manufacturing partner begins commercial grade battery assembly and testing protocols. These steps are critical toward the Company’s development efforts as it seeks to upgrade the 21700 cell design of its next set of battery prototypes.
The highly ionic silicon-lithium anode material is designed to improve the battery’s first cycle efficiency, capacity retention for long-term cycling, and power capabilities. The Company’s performance boosting silicon additives are now produced in the US before being shipped to BioSolar’s international anode material manufacturing partner in Asia, a strategic procurement decision that the Company believes will ultimately drive down cost and improve quality control of the resulting product.
“Our strategy to demonstrate commercial viability for our additive technology is to create commercial grade prototype battery cells that pose an upgrade to existing anode material,” said Dr. David Lee, Chief Executive Officer of BioSolar. “We are pleased with the progress achieved thus far by our technology partners and leadership, and will continue to provide updates to existing and potential partners, as well as the public and security holders.”
About BioSolar, Inc.
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 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 States 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.
CONTACT INFORMATION
Tom Becker
BioSolar, Inc.
[email protected]
(877) 904-3733
