OAKVILLE, Ontario, Jan. 23, 2019 (GLOBE NEWSWIRE) -- Saint Jean Carbon Inc. (“Saint Jean” or the “Company”) (TSX-V: SJL) (OTCQB: TORVF) is pleased to announce the company is applying years of technology knowhow to a new form of battery technology. The Company will start building the first prototype graphene gel salt water batteries. Batteries based on this technology should charge faster, run longer and theoretically may last indefinitely. The project's long term goal is to have a series of three full production batteries ready for launch in spring 2020.
Salt water battery technology has been in research for about 5 years. Continued advancement slowed due to limited voltage capacity in comparison with Lithium batteries. Now with the use of graphene in a highly concentrated salt water gel, graphene can now be used without worry of the graphene restacking, which would reduce the intercalation rate. Salt water batteries are much safer, won’t burn and have significantly less raw material cost.
The Company plans on building out a “flex” production line that will allow a number of companies to share in the facility on a fee for use basis. The Company’s first production will concentrate on three specific battery types:
1) small for portable devices, 2) large stationary storage, and 3) high energy density automotive/motorcycle.
Paul Ogilvie, CEO, commented: “With all the great projects we are working on, both on material development and actual design build applications, the battery production project seems like a natural step as we continue to build a carbon science company with a unique model of raw material through to finished products. We hope this continues to give us a competitive advantage in the future.”
The Company will provide updates on the battery production process throughout the year.
About Saint Jean Carbon
Saint Jean is a publicly traded carbon science company, with specific interests in energy storage and green energy creation and green re-creation, with holdings in graphite mining and lithium claims in the province of Quebec in Canada. For the latest information on Saint Jean’s properties and news please refer to the website: http://www.saintjeancarbon.com/ .
On behalf of the Board of Directors
Saint Jean Carbon Inc.
Paul Ogilvie, CEO and Director
Information Contact :
Email: info@saintjeancarbon.com
Tel: (905) 844-1200
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
FORWARD-LOOKING STATEMENTS: This news release contains forward-looking statements, within the meaning of applicable securities legislation, concerning Saint Jean’s business and affairs. In certain cases, forward-looking statements can be identified by the use of words such as ‘‘plans’’, ‘‘expects’’ or ‘‘does not expect’’, “intends”, ‘‘budget’’, ‘‘scheduled’’, ‘‘estimates’’, “forecasts’’, ‘‘intends’’, ‘‘anticipates’’ or variations of such words and phrases or state that certain actions, events or results ‘‘may’’, ‘‘could’’, ‘‘would’’, ‘‘might’’ or ‘‘will be taken’’, ‘‘occur’’ or ‘‘be achieved’’. Such forward-looking statements include those with respect to the future payments required to be paid to the Vendor of the Lochaber mining property.
These forward-looking statements are based on current expectations, and are naturally subject to uncertainty and changes in circumstances that may cause actual results to differ materially. The forward-looking statements in this news release assume, inter alia, that the Company will be able to fund the required cash payments.
Although Saint Jean believes that the expectations represented in such forward-looking statements are reasonable, there can be no assurance that these expectations will prove to be correct. There are risks which could affect Saint Jean’s future results and could cause the results to differ materially from those expressed in these forward-looking statements including closing failure or delay, the impact of general economic conditions in Canada and globally and the risk that they will deteriorate, industry conditions, including fluctuations in the price of supplies and the risk that they will increase, that required consents and approvals from regulatory authorities will not be obtained and the liabilities and risks inherent in Saint Jean’s operations.
Statements of past performance should not be construed as an indication of future performance. Forward-looking statements involve significant risks and uncertainties, should not be read as guarantees of future performance or results, and will not necessarily be accurate indications of whether or not such results will be achieved. A number of factors, including those discussed above, could cause actual results to differ materially from the results discussed in the forward-looking statements. Any such forward-looking statements are expressly qualified in their entirety by this cautionary statement.
All of the forward-looking statements made in this press release are qualified by these cautionary statements. Readers are cautioned not to place undue reliance on such forward-looking statements. Forward-looking information is provided as of the date of this press release, and Saint Jean assumes no obligation to update or revise them to reflect new events or circumstances, except as may be required under applicable securities laws.
Bankers Hall West Tower
Suite 1000, 888 - 3rd St S.W
Calgary, AB T2P 5C5
P: (403)-444-6888 F: (403)-295-9170
Email: info@saintjeancarbon.com
Web: www.saintjeancarbon.com