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SANTA CLARITA, Calif., April 09, 2019 (GLOBE NEWSWIRE) -- BioSolar, Inc. (OTCQB:BSRC) (“BioSolar” or the “Company”), a developer of breakthrough energy storage technology and materials, today announced that its technology partner has commenced production and testing of the first batch of commercial grade prototype lithium-ion cells for power tool application in the new 21700 cell format being adopted by a number of high-growth industries including power tools, consumer electronics and electric vehicles.
The 21700 cell format is one many believe can increase battery density, thus positively impacting overall power. In February, automotive manufacturer Nikola teased its new line of all electric truck models, citing in a tweet its dependence on 21700 cells. In power home technology, Milwaukee Tool announced two new cordless tool battery packs, including a high output segment that carry 21700 cells, up from the 18650 format in pre-existing series.
As disclosed in a previous announcement, BioSolar began applying its performance boosting additive technology to the emerging category of silicon anode lithium-ion battery cells. As the cell develops and hopefully demonstrates commercial viability in a power tool application, BioSolar believes its technology can also generate interest from a broader audience of battery manufacturers and end users alike.
“As we progress with the development of our commercial grade prototype batteries, it is essential for us to communicate the process to our partners, potential customers and shareholders,” said Dr. David Lee, CEO of BioSolar. “We anticipate our performance boosting technology will show enough progress in these prototypes to transition BioSolar from a technology development company into one with commercially viable technologies suitable for use in a number of high-growth industries.”
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 developing an innovative additive that enables the use of inexpensive silicon as the anode to create next generation high capacity and high power lithium-ion batteries. Founded with the vision of developing breakthrough energy technologies, BioSolar's previous successes include the world's first UL approved bio-based backsheet 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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