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SANTA CLARITA, Calif., July 23, 2019 (GLOBE NEWSWIRE) -- BioSolar, Inc. (OTCQB:BSRC) (“BioSolar” or the “Company”), a developer of breakthrough energy storage technology and materials, today announced that it has completed the testing and analysis to obtain key performance metrics related to power and energy capabilities for the first batch of its commercial grade prototype lithium-ion batteries.
The Company’s goal related to these prototypes is to ultimately demonstrate that its technology can improve and exceed performance objectives for next generation power tools. The initial results for the power and energy capabilities of the first batch of 21700 cells were much closer to meeting end-goal metrics than expected. The next step is to narrow the cell-to-cell capacity variation after cell formation which requires additional 21700 cell design work. Narrower cell capacity distribution will allow consistent cell quality during manufacturing.
The Company and its cell manufacturing partner are now working to identify cell design adjustments needed to meet and exceed the target application’s requirements. As adjustments are made, the Company plans to prepare and test additional commercial grade 21700 cells until all performance objectives have been met.
“We are pleased with the progress achieved thus far by our technology partners and leadership, and will continue to provide updates to the public and our shareholders as they occur,” said Dr. David Lee, Chief Executive Officer of BioSolar. “Our goal is to demonstrate that our additive technology can improve and exceed performance objectives for customers without disrupting their manufacturing processes and infrastructure, and reducing costs, all of which we anticipate would ultimately impact purchasing decisions by end users.”
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.
Any forward-looking statement made by us in this press release is based only on information currently available to us and speaks only as of the date on which it is made. We undertake no obligation to publicly update any forward-looking statement, whether written or oral, that may be made from time to time, whether as a result of new information, future developments or otherwise.