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SANTA CLARITA, Calif., Feb. 05, 2019 (GLOBE NEWSWIRE) -- BioSolar, Inc. (OTCQB:BSRC) (“BioSolar” or the “Company”), a developer of breakthrough energy storage technology and materials, today outlined its efforts for preparing commercial grade prototypes spanning material and prototype design and testing, and ultimately seeking potential customer evaluation for the product’s desired performance characteristics.
Material preparation for the prototype is a critical first step, as the Company requires support from its technology partners to prepare larger quantities of silicon anode materials incorporating the Company’s additive technology suitable for commercial grade battery manufacturing. Once the materials are obtained and deemed suitable for making a sufficient number of commercial grade prototype batteries, BioSolar’s technology partner Top Battery plans to build a limited number of commercial grade 21700 lithium-ion cylindrical cells. As referenced in a prior release, this cell-design format is one which the Company believes can demonstrate commercial viability and achieve higher exposure for customers considering its additive technology.
Following this stage of production, the Company plans to commence the prototype testing phase, contemplating short- and long-term tests to verify key performance metrics related to power and energy capability, as well as capacity retention over a large number of cycles. This data will help researchers identify where cell design adjustments are required in order to meet and exceed the target requirements for next generation lithium-ion battery cell use. As adjustments are made, BioSolar and its partners plan to produce and test additional batches of commercial grade 21700 cells until all performance objectives have been met, whereupon the product would be shipped to potential customers for their own testing and evaluation.
“It is very important that we articulate this strategy and its processes to both our stockholders as well as potential partners and customers,” said Dr. David Lee, Chief Executive Officer of BioSolar. “We anticipate that the next generation lithium-ion batteries are going to require next generation silicon anode materials that provide higher energy and power density. We believe our additive technology has the capability to significantly improve and exceed performance objectives for customers without disrupting their manufacturing infrastructure, and ultimately reducing cost to them as well as 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.