SANTA CLARITA, Calif., April 24, 2018 (GLOBE NEWSWIRE) -- BioSolar, Inc. (OTCQB:BSRC) (“BioSolar” or the “Company”), a developer of breakthrough energy storage technology and materials, today announced that it has commenced the first phase of its commercial grade prototype battery development with the intent of showcasing its proprietary additive technology capable of increasing capacity while reducing costs of next generation lithium-ion batteries.
The initial phase of the commercial prototype development consists of material design and evaluation, followed by electrode design and optimization engineering to maximize the full battery performance. These efforts are in preparation for the building of a limited number of commercial grade prototype batteries at a contract manufacturer. Once prototypes are developed that can demonstrate capability, the Company intends to work with its partners on larger scale production runs.
“This commercial focus represents a very significant stage of our progress, one we believe will attract collaboration from raw silicon micro-particle suppliers,” said Dr. David Lee, Chief Executive Officer of BioSolar. “The outcome of such collaborative efforts will be a very important precursor to engaging with battery manufacturers, as well as all the electric device companies seeking high capacity, low cost batteries.
This initiative follows the Company’s recent announcement that it achieved a significant performance milestone with silicon micro-particle (SiMP) anodes enhanced by its innovative silicon (Si) anode additive technology, with data suggesting its technology can achieve significantly higher capacity with lowered costs.
The industry standard for Si anodes currently uses Si nano-particles, but the difficulty of manufacturing raw Si nano-particle materials remains a costly challenge. By contrast, Si micro-particles are easier to manufacture, at a significantly lower cost. Unfortunately, anodes made from Si micro-particles are more prone to damage during battery charging and discharging due to volume expansion, thus they are not yet commercially viable. BioSolar’s innovative additive technology is designed to solve this problem for various applications such as electric vehicles, residential energy storage units, or any product that depends on advances in battery technology to achieve widespread consumer adoption.
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 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.
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.
CONTACT INFORMATION
Investor Relations Contact:
Tom Becker
BioSolar, Inc.
ir@biosolar.com
(877) 904-3733
For Media Inquiries:
Eric Fischgrund
FischTank Marketing and PR
eric@fischtankpr.com