SANTA CLARITA, Calif., May 09, 2017 (GLOBE NEWSWIRE) -- BioSolar, Inc. (OTCQB:BSRC)(“BioSolar” or the “Company”), a developer of breakthrough energy storage technology and materials, today announced that the Company has commenced the engineering phase of its silicon (Si) alloy anode material technology development, a milestone achievement that comes amid reports of further development within the high-growth lithium-ion battery market.
The engineering phase focuses on designing and testing the electrodes based on the Company’s Si alloy anode material, as well as full cell design and evaluation with commercially available high capacity cathodes. Innovation within the lithium-ion battery industry, still quite dominant as a means of powering electric cars and storing energy produced by renewable sources, is expected to establish itself as a $77.42 billion market by 2024.
BioSolar’s laboratory test results demonstrate that lithium-ion batteries incorporating BioSolar’s Si alloy anode can achieve significantly higher capacity than the conventional graphite anode. Further, the Company’s anode material costs less when compared to other Si anodes currently on the market. These results are very promising because the tests were conducted using the Company’s laboratory scale Si alloy anode materials, as compared to commercially available, market-used Si anode materials.
“Entering engineering phase development is a very important milestone for the Company, one that provides us the platform to engage and hopefully collaborate with manufacturing and development partners,” said Dr. David Lee, CEO of BioSolar. “We are confident that our approach will continue to demonstrate not only higher performance but also better price points, strengthening its commercial viability and market potential.”
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 initially focused its development effort on high capacity cathode materials since most of today's Li-ion batteries are "cathode limited." With the goal of creating the company's next generation super battery technology, 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 cathode or 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.
CONTACT INFORMATION Investor Relations Contact: Tom Becker BioSolar, Inc. ir@biosolar.com (877) 904-3733 For Media Inquiries: Eric Fischgrund FischTank Marketing and PR eric@fischtankpr.com
