Ultracharge acquires more IP to provide full battery solution
UltraCharge Limited (ASX:UTR) today informed the market it had acquired new lithium-ion battery intellectual property (IP) from the US-based Coorstek Specialty Chemicals.
The IP includes a high-performing, low-cost electrolyte solution for lithium-ion batteries which are rechargeable and require an anode, cathode and electrolyte solution to work.
High-purity electrolytes are a core component to these batteries as they play a role in transporting ions between the cathode and anode. In most lithium-ion batteries, electrolyte salt LiPF6 is used, however this salt can be a significant factor in battery degradation.
UTR’s IP acquisition provides it with a more superior electrolyte salt to use in production, LiFSI, which increases the lifespan of the battery and the performance at both high and low temperatures. In addition, the patented production technique has the potential to reduce the cost by half when compared with typical commercial electrolytes.
The process for producing the electrolyte is highly automated, and has the potential to reduce production time by up to 100 times. With these factors combined, the strategic acquisition could have considerable commercial benefits for UTR, and will importantly add to the company’s growing IP portfolio.
Although it should be noted that UTR is an early stage play and investors should seek professional financial advice if considering this stock for their portfolio.
UTR to offer a full lithium-ion battery solution
With the superior electrolyte IP now in hand, UTR can offer the market a unique full battery solution. It already provides a safe, fast-charging and long-lasting anode and a revolutionary high-voltage cathode — with the addition of the new electrolyte solution, UTR will be able to offer a bespoke lithium-ion battery solution.
In commenting on today’s announcement, UTR CEO Kobi Ben-Shabat said: “UltraCharge is in a unique position as we can offer multiple battery solutions that can be tailored specifically for the end user. For example, we can offer our revolutionary anode technology, or our high-voltage cathode technology, or a combination of both with our superior electrolyte for the complete solution, targeted at the electric vehicle market.
“We continue to make significant progress as a battery technology company, increasing our unique product offering to battery manufacturers and growing our market share in the energy storage space.”