Platinum Group Metals Ltd. (NYSE American: PLG) (T
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Posted On: 09/24/2024 4:17:42 PM
Platinum Group Metals Ltd. (NYSE American: PLG) (TSX: PTM) Subsidiary Positioned in Lithium-Sulfur Battery Space
- New battery technologies are being researched and developed to rival lithium-ion batteries in terms of efficiency, cost and sustainability.
- Lithium-sulfur batteries could offer advantages over lithium-ion batteries, including increased range and storage capacity.
- Companies working in this space include Lion Battery Technologies Inc. founded by Platinum Group Metals Ltd. and Anglo American Platinum Limited.
The battery of choice these days, relied on to power everything from digital devices to electric vehicles and even energy-storage systems, is the lithium-ion battery. However, lithium-ion technology has its drawbacks; consequently, other battery solutions are being developed, including lithium sulfur. Through its subsidiary Lion Battery, Platinum Group Metals (NYSE American: PLG) (TSX: PTM) is working to strengthen its foothold in the lithium-sulfur space.
“Most battery-powered devices, from smartphones and tablets to electric vehicles and energy storage systems, rely on lithium-ion battery technology,” reported a recent Built-In article (https://nnw.fm/YaeWi ). “Because lithium-ion batteries are able to store a significant amount of energy in such a small package, charge quickly and last long, they became the battery of choice for new devices.
“But new battery technologies are being researched and developed to rival lithium-ion batteries in terms of efficiency, cost and sustainability,” the article continued. “While lithium-ion batteries have come a long way in the past few years, especially when it comes to extending the life of a smartphone on full charge or how far an electric car can travel on a single charge, they’re not without their problems. The biggest concerns — and major motivation for researchers and startups to focus on new battery technologies — are related to safety, specifically fire risk, and the sustainability of the materials used in the production of lithium-ion batteries, namely cobalt, nickel and magnesium.”
The article noted that many of these new battery technologies aren’t reinventing the wheel; rather, they’re exploring the potential of different materials when it comes to powering devices or storing energy. Such is the case with lithium-sulfur technology, which relies on sulfur for the battery’s cathode. Because sulfur is more sustainable than nickel and cobalt, which are often used in a battery anode with lithium metal, the possibilities are promising.
Lion Battery was jointly formed in 2019 by Platinum Group and Anglo American Platinum to accelerate the development of next-generation battery technology using platinum and palladium. Since inception the Lion team has focused on the development of proprietary lithium sulfur technology and enhancing the performance of existing commercial lithium-ion (“NMC”) chemistries. Lion has a sponsored research agreement with Florida International University (“FIU”) including exclusive rights to all intellectual property developed and will lead commercialization efforts. To date the U.S. Patent and Trademark Office has granted five patents related to research conducted by FIU on behalf of Lion.
“Lithium-sulfur batteries are believed to be more efficient than lithium-ion batteries, which could increase the range and storage capacity of electric vehicles,” Built-In reported. “Additionally, sulfur is affordable and abundant, which could mean lower costs. And since the manufacturing process for these batteries is like the one used for lithium-ion batteries, the same facilities could also be used for production. Advancements in lithium-sulfur batteries have also resulted in faster charging and made them useful for raising the storage capacity of renewable energy technologies.”
Lion Battery has engaged The Battery Innovation Center (“BIC”) in Newberry, Indiana, to help drive commercialization of its next generation platinum and palladium based battery chemistries. The BIC is completing independent small scale and large scale trials to validate Lion’s proprietary platinum and palladium based electrode composition, slurry and films in both lithium-sulfur and lithium-ion (“NMC811”) coin and pouch cells. Collaboration also includes additional research and development focused on improving performance and scale-up with the goal of creating prototypes for commercialization consideration in late 2024. Lion’s target is to develop batteries with specific energies that are 20% to 100% higher than current technologies while meeting or exceeding their present cycle lives.
For more information, visit the company’s website at www.PlatinumGroupMetals.net.
NOTE TO INVESTORS: The latest news and updates relating to PLG are available in the company’s newsroom at https://nnw.fm/PLG
Please see full terms of use and disclaimers on the NetworkNewsWire website applicable to all content provided by NNW, wherever published or republished: http://NNW.fm/Disclaimer
- New battery technologies are being researched and developed to rival lithium-ion batteries in terms of efficiency, cost and sustainability.
- Lithium-sulfur batteries could offer advantages over lithium-ion batteries, including increased range and storage capacity.
- Companies working in this space include Lion Battery Technologies Inc. founded by Platinum Group Metals Ltd. and Anglo American Platinum Limited.
The battery of choice these days, relied on to power everything from digital devices to electric vehicles and even energy-storage systems, is the lithium-ion battery. However, lithium-ion technology has its drawbacks; consequently, other battery solutions are being developed, including lithium sulfur. Through its subsidiary Lion Battery, Platinum Group Metals (NYSE American: PLG) (TSX: PTM) is working to strengthen its foothold in the lithium-sulfur space.
“Most battery-powered devices, from smartphones and tablets to electric vehicles and energy storage systems, rely on lithium-ion battery technology,” reported a recent Built-In article (https://nnw.fm/YaeWi ). “Because lithium-ion batteries are able to store a significant amount of energy in such a small package, charge quickly and last long, they became the battery of choice for new devices.
“But new battery technologies are being researched and developed to rival lithium-ion batteries in terms of efficiency, cost and sustainability,” the article continued. “While lithium-ion batteries have come a long way in the past few years, especially when it comes to extending the life of a smartphone on full charge or how far an electric car can travel on a single charge, they’re not without their problems. The biggest concerns — and major motivation for researchers and startups to focus on new battery technologies — are related to safety, specifically fire risk, and the sustainability of the materials used in the production of lithium-ion batteries, namely cobalt, nickel and magnesium.”
The article noted that many of these new battery technologies aren’t reinventing the wheel; rather, they’re exploring the potential of different materials when it comes to powering devices or storing energy. Such is the case with lithium-sulfur technology, which relies on sulfur for the battery’s cathode. Because sulfur is more sustainable than nickel and cobalt, which are often used in a battery anode with lithium metal, the possibilities are promising.
Lion Battery was jointly formed in 2019 by Platinum Group and Anglo American Platinum to accelerate the development of next-generation battery technology using platinum and palladium. Since inception the Lion team has focused on the development of proprietary lithium sulfur technology and enhancing the performance of existing commercial lithium-ion (“NMC”) chemistries. Lion has a sponsored research agreement with Florida International University (“FIU”) including exclusive rights to all intellectual property developed and will lead commercialization efforts. To date the U.S. Patent and Trademark Office has granted five patents related to research conducted by FIU on behalf of Lion.
“Lithium-sulfur batteries are believed to be more efficient than lithium-ion batteries, which could increase the range and storage capacity of electric vehicles,” Built-In reported. “Additionally, sulfur is affordable and abundant, which could mean lower costs. And since the manufacturing process for these batteries is like the one used for lithium-ion batteries, the same facilities could also be used for production. Advancements in lithium-sulfur batteries have also resulted in faster charging and made them useful for raising the storage capacity of renewable energy technologies.”
Lion Battery has engaged The Battery Innovation Center (“BIC”) in Newberry, Indiana, to help drive commercialization of its next generation platinum and palladium based battery chemistries. The BIC is completing independent small scale and large scale trials to validate Lion’s proprietary platinum and palladium based electrode composition, slurry and films in both lithium-sulfur and lithium-ion (“NMC811”) coin and pouch cells. Collaboration also includes additional research and development focused on improving performance and scale-up with the goal of creating prototypes for commercialization consideration in late 2024. Lion’s target is to develop batteries with specific energies that are 20% to 100% higher than current technologies while meeting or exceeding their present cycle lives.
For more information, visit the company’s website at www.PlatinumGroupMetals.net.
NOTE TO INVESTORS: The latest news and updates relating to PLG are available in the company’s newsroom at https://nnw.fm/PLG
Please see full terms of use and disclaimers on the NetworkNewsWire website applicable to all content provided by NNW, wherever published or republished: http://NNW.fm/Disclaimer
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