SANTA CLARITA, Calif., Aug. 08, 2017 (GLOBE NEWSWIRE) -- BioSolar, Inc. (OTCQB:BSRC) (“BioSolar” or the “Company”), a developer of breakthrough energy storage technology and materials, today announced successful internal tests of a proprietary additive that can improve the performance of silicon anodes in general.
Silicon (Si) is one of the most promising anode materials being considered for next generation, high energy and high power lithium ion batteries. However, Si anodes suffer from large capacity fading and tremendous volume change during lithium-ion charge discharge cycle, leading to short life-span. BioSolar has been developing a proprietary Si anode that addresses these inherent problems.
Recently, the Company developed an additive material to boost the performance of its Si anode for high power/fast charging applications. Surprisingly, when added to competitive Si anodes, such as those from well-known international battery manufacturers, the additive was able to increase the capacity retention of them as well. The Company now believes that its proprietary additive has the potential to improve all types of silicon anode materials such as Si carbon composite, Si oxide type, and Si alloys, and further experiments are being performed. This surprising turn of events creates multiple paths to commercialization for the Company’s technology – standalone Si lithium nanocomposite anode as well as performance boosting additive for other Si anode manufacturers.
“The versatility to apply the additive to our own energy storage technologies as well as a broader set of applications, opens up our commercialization opportunities,” said BioSolar CEO David Lee. “The initial work has already shown that our additive material, made out of highly ionic silicon-lithium nanocomposites, improves the battery’s first cycle efficiency, capacity retention for long-term cycling, and power capability at different current rates. We expect our inorganic lithium ion conducting additive can create substantial market opportunities that will result in revenue generation.”
This expanded opportunity for commercialization is strongly supported by the growth of the lithium-ion battery market. A report by Navigant Research indicates that the global market for lithium ion (Li-ion) batteries or automotive applications is expected to grow from $7.8 billion in 2015 to $30.6 billion in 2024. Key industry driver such as the EV market are one of the reasons why the lithium ion battery market is expected to exceed $69 billion by 2022.
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.