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UltraCharge obtains evolutionary LIB Cathode IP
2 minute read
Battery technology company, UltraCharge Limited (ASX:UTR) this morning announced that it has successfully acquired new cathode intellectual property from Israeli company, ETV Energy Limited.
The new IP assets will complement UTR’s existing lithium ion battery technology which replaces graphite in anodes (negative pole) with a nanotube gel material made from titanium dioxide. This has the potential to revolutionise the market for lithium batteries by producing a battery that is safe, has a longer lifetime and is fast charging.
Its new IP assets will also facilitate new market opportunities, including power bikes and aviation solutions, which have been valued between US$100-500 million each.
UltraCharge possesses the ability to offer a full lithium ion battery solution, combining the company’s fast charging, long life span anode with the new cathode IP asset.
ETV Energy’s high voltage LiMnNo cathode offers greater voltage, energy capacity and power capacity than commercial offerings, and can be produced for just half the cost.
It should be noted that UTR is an early stage play and anything can happen, so seek professional financial advice if considering this stock for your portfolio.
UltraCharge CEO Kobi Ben-Shabat said, “We are very excited about the additional market opportunities made available to UltraCharge by the inclusion of this high voltage cathode to the company’s battery IP portfolio.
“The acquisition of the new IP asset allows UltraCharge to add experienced battery engineers to our great team, which will further expedite the commercialisation of our patented anode technology with a full battery solution.”
UltraCharge will finalise the conditional acquisition for US$200,000 and up to 90 million shares, which are subject to specific milestones.
The company is anticipating revenues from the acquisition within the next 18-24 months.