There are a number of distinct issues that limit the reach of rechargeable batteries — slow charging times, high cost, limited battery lifetime, and safety issues. Ultracharge (ASX:UTR) may have the solution.
UTR has signed multiple new deals with partners, acquired complementary intellectual property, advanced a pilot project, and raised A$2.5 million to create and commercialise technology to capitalise on the rapidly growing battery manufacturers’ market.
In its latest deal, UTR has entered an MOU with China’s leading fluorine chemical manufacturer, Sinochem Lantian Co. Ltd, a subsidiary of Sinochem Group, which is a Chinese state-owned Fortune Global 500 company.
This agreement makes the most of the IP that UTR acquired from Coorstek a few months prior — enabling the production of a superior electrolyte salt (LiFSI salt) which can increase battery lifespan and performance.
The deal with Sinochem comes on top of a cornerstone Joint Collaboration Agreement with Dotz Nano (ASX:DTZ) to integrate the use of graphene quantum dots (GQDs) in its anode technology for manufacturing lithium-ion batteries.
The deal involves a three-month pilot cooperation program to develop longer-lasting, faster-charging and more dependable technology utilising GQDs.
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The potential in the lithium-ion battery space has been compared to that of solar energy with a market that could expand well beyond electric vehicles to a far broader range of future applications.
UTR is working hard and fast to become pioneers in this space, and with the rate at which technology is moving, could be well on track to improve its $25 million market cap.