Joint efforts with BioSolar will focus on developing and joint marketing of silicon anode materials for high power, high energy lithium ion batteries
LONDON, June 19, 2018 (GLOBE NEWSWIRE) -- Ferroglobe PLC (NASDAQ:GSM) (“Ferroglobe” or the “Company”), the global leader in the supply of silicon metal, through its subsidiary Silicio Ferrosolar SLU, announced that the Company has executed a joint development agreement with BioSolar, Inc. (OTCQB:BSRC), a leading developer of breakthrough energy storage technology and materials, for collaborative efforts to assess, develop, and/or market silicon anode materials for high power, high energy lithium ion batteries, by integrating Ferroglobe silicon materials and BioSolar technology.
Ferroglobe is focused on the development of new advanced materials and technologies to enhance the value of its products. Ferroglobe’s developed and commercialized technologies include the Electromagnetic Cold Crucible (EMCC), Fast Segregation Systems (FSS), Induction Furnaces for silicon melting, Vacuum Furnaces designed to remove volatile impurities, and special crushing machines to avoid contamination. Ferroglobe has also developed its own technology for the production of solar-grade silicon metal, and is capitalizing on this experience in developing diverse applications for such high purity silicon.
This joint agreement follows BioSolar’s recent announcement that it has achieved a significant performance milestone in silicon micro-particle (SiMP) anodes enhanced by its innovative silicon anode additive technology, with data suggesting its technology can achieve significantly higher capacity with lowered costs. Through this partnership, as well as other potential industry relationships, Ferroglobe seeks to capitalize upon what many consider to be a high growth market opportunity, as recent reports predict the silicon anode battery market will hit a CAGR of 21.5% through 2024.
With its proprietary technology relating to silicon anode material for lithium ion batteries, BioSolar believes Ferroglobe is a natural fit as a developmental partner. As the global leader in the supply of silicon materials, Ferroglobe possesses experience in incorporating technologies such as BioSolar’s silicon additive technology into its own raw silicon materials.
“We are excited to partner with BioSolar, a company whose technology represents tremendous upside in the development of lithium-ion batteries with respect to capacity, efficiency and safety,” said Benoist Ollivier, EVP-Technology at Ferroglobe. “We continue to focus on the development of high value added advanced materials, and are confident that our focus on silicon anode material development will yield results that ultimately reduce costs and improve output.”
“We are pleased to have Ferroglobe as a development partner, a company with a proven track record of developing and supplying silicon materials to global marketplaces,” said Dr. David Lee, CEO of BioSolar. “We are confident that this partnership and its subsequent results will continue to demonstrate not only higher performance but also better price points, strengthening BioSolar’s commercial viability and market potential.”
About Ferroglobe PLC.
Ferroglobe PLC is one of the world's leading suppliers of silicon metal, silicon-based specialty alloys and ferroalloys serving a customer base across the globe in dynamic and fast-growing end markets, such as solar, automotive, consumer products, construction and energy. The company is based in London. For more information, visit http://investor.ferroglobe.com/.
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.
This release contains "forward-looking statements" within the meaning of U.S. securities laws. Forward-looking statements are not historical facts but are based on certain assumptions of management and describe the Company's future plans, strategies and expectations. Forward-looking statements often use forward-looking terminology, including words such as "anticipate", "believe", "could", "estimate", "expect", "forecast", "guidance", "intends", "likely", "may", "plan", "potential", "predicts", "seek", "will" and words of similar meaning or the negative thereof.
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FERROGLOBE INVESTOR CONTACTS:
Joe Ragan, +1 917-209-8581, +44 (0) 7827-227-688
Chief Financial Officer
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Source: Ferroglobe PLC