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SANTA CLARITA, Calif., Aug. 21, 2019 (GLOBE NEWSWIRE) -- BioSolar, Inc. (OTCQB:BSRC) (“BioSolar” or the “Company”), a developer of breakthrough energy storage technology and materials, today announced a key logistics update for its lithium-ion battery technology development, which the Company believes will provide improved quality control and supply-chain security.
Following very positive initial testing, BioSolar and its cell manufacturing partner are currently working to identify upgrades to the 21700 cell design of its first set of battery prototypes. Previously, the Company’s performance-boosting additive materials were prepared overseas and shipped to its manufacturing partner. However, BioSolar has decided to have more direct control over the additive material supply chain and preparation processes, and will move these aspects of its production to the U.S.
In addition, BioSolar recently acquired a special set of small equipment and raw materials to prepare the upcoming batches of its battery prototypes, and began preparing its proprietary additive materials in North Carolina. From there, the materials will be shipped to the Company’s manufacturing partner in Asia for use in future lithium-ion battery prototypes.
“As we progress through prototype development, it is critical that we address each step of the process to ensure that we achieve our end result of being able to clearly demonstrate commercial viability,” said Dr. David Lee, Chief Executive Officer of BioSolar. “Our ability to have direct control of raw materials and equipment for our additive technology is a clear reflection of that focus, and one we expect will ultimately result in our ability to meet key customer performance requirements. This is a highly technical process that requires acute attention to detail and battery development nuances, and we are excited by the clear vision and path in front of us.”
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.
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