SANTA CLARITA, Calif., Jan. 08, 2019 (GLOBE NEWSWIRE) -- BioSolar, Inc. (OTCQB:BSRC) (“BioSolar” or the “Company”), a developer of breakthrough energy storage technology and materials, today provided a progress update on its efforts to build commercial grade prototypes in a new battery cell format sought by key industry verticals that rely on lithium-ion batteries.
While high energy and power lithium ion battery packs based upon 18650 format cells have been popular in the past, many in emerging industries believe the 21700 format cells will serve as the foundation for the battery of the future. These high-end batteries are sought by battery manufacturers as well as end-users producing power tools, electric vehicles, and personal electronics. According to Journal of The Electrochemical Society, 165 (14) A3284-A3291 (2018), the energy content per cell can be approximately 50% higher for 21700 compared to 18650. The higher energy content on cell level leads to potentially reduced costs and time savings in the production of 21700 cells and their packs.
BioSolar is preparing to build commercial grade prototype cells in the 21700 format, which would then make the product easier to demonstrate commercial viability and achieve higher exposure for customers considering the Company’s additive technology.
“We are excited by the present stage of BioSolar’s development, as the availability of such prototypes will expand the opportunities for collaboration with battery manufacturers and end users in high-growth industries,” said Dr. David Lee, Chief Executive Officer of BioSolar. ” To be successful, BioSolar’s additive technology must prove it is commercially viable, and we look forward to this critical industry feedback as we move toward preparing the prototypes.”
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.
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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