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SANTA CLARITA, Calif., Sept. 24, 2019 (GLOBE NEWSWIRE) -- BioSolar, Inc. (OTCQB:BSRC) (“BioSolar” or the “Company”), a developer of breakthrough energy storage technology and materials, today announced that the first batch of domestically produced materials incorporating the Company’s performance boosting silicon additive technology have been shipped to its material manufacturing partner.
The highly ionic silicon-lithium anode material is designed to improve the battery’s first cycle efficiency, capacity retention for long-term cycling, and power capabilities. These materials were produced domestically before being shipped to BioSolar’s international manufacturing partner, a strategic procurement decision that the Company believes will ultimately drive down cost and improve quality control of the resulting product.
These changes are critical toward the Company’s development and commercialization efforts as it seeks to upgrade the 21700 cell design of its next set of battery prototypes. More broadly, BioSolar is advancing its ability to incorporate materials and processes that it believes simplifies future supply chain operations, a concept the Company believes will resonate with and appeal to potential customers and partners.
“Our primary goal is to meet key customer performance metrics, an objective we believe we’re closer to achieving by having direct control of the raw materials and equipment for our additive technology,” said Dr. David Lee, Chief Executive Officer of BioSolar. “Further, we are incorporating market feedback with respect to the supply chain, demonstrating our ability to fit into existing manufacturing infrastructures, which in turn makes the product more commercially viable.”
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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