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SANTA CLARITA, Calif., June 04, 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 first batch of its commercial grade prototype lithium-ion batteries.
Outlined below are the key steps to prepare the 21700 cylindrical battery cells with silicon (“Si”) anodes, incorporating the Company’s performance boosting additive technology:
The Company plans to commence the testing and analysis phase intended to verify key performance metrics related to power and energy capability, as well as capacity retention over a large number of cycles. The Company believes this data will help researchers identify where cell design adjustments are required in order to meet and exceed the target application requirements. As adjustments are made, the Company plans to prepare and test additional batches of commercial grade 21700 cells until all performance objectives have been met.
“We are pleased with the progress achieved 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. “We anticipate that the next generation lithium-ion batteries will require next generation silicon anode materials that provide higher energy and power density. Our performance boosting additive technology has the potential to improve and exceed customer requirements without disrupting their manufacturing infrastructure, a critical aspect that directly impacts viability for the manufacturer and ultimately lowers cost for the end user.”
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.