BioSolar, Inc. (OTCQB: BSRC) is engaged within the research and development of technologies to increase storage capacity of lithium-ion batteries. The company hopes to create the next generation of efficient lithium-ion batteries that will help lower costs while extending life. Shares of BioSolar, Inc. are jumping 34%, through early trading on Tuesday, June 19, 2018. Over the past month, BioSolar, Inc. has seen average daily volume of 314,179 shares. However, volume of 527,050 shares or dollar volume of $21,082, has already exchanged hands through early trading on Tuesday.
Shares of BioSolar, Inc. are climbing on Tuesday after the company announced that it has entered into a joint development agreement with Ferroglobe PLC (NASDAQ: GSM), a global provider of silicon materials. Under the terms of the joint agreement, the two companies will work to “assess, develop, and/or market silicon anode materials for high power, high energy lithium-ion batteries by integrating BioSolar technology and Ferroglobe silicon materials.” Here is the full press detailing of the joint agreement:
BioSolar, Inc. Press Release:
SANTA CLARITA, Calif., June 19, 2018 (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 executed a joint development agreement with Silicio Ferrosolar SLU, a subsidiary of Ferroglobe PLC (NASDAQ:GSM), for collaborative efforts to assess, develop, and/or market silicon anode materials for high power, high energy lithium ion batteries by integrating BioSolar technology and Ferroglobe silicon materials.
Ferroglobe, the global leader in the supply of silicon metal, 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, BioSolar 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, it 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 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.
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/
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.
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. Forward-looking statements contained in this press release are based on information presently available to the Company and assumptions that we believe to be reasonable but are inherently uncertain. As a result, Ferroglobe’s actual results, performance or achievements may differ materially from those expressed or implied by these forward-looking statements, which are not guarantees of future performance and involve known and unknown risks, uncertainties and other factors that are, in some cases, beyond the Company’s control. All information in this press release is as of the date of its release. Ferroglobe does not undertake any obligation to update publicly any of the forward-looking statements contained herein to reflect new information, events or circumstances arising after the date of this press release. You should not place undue reliance on any forward-looking statement which are made only as of the date of this press release.