SANTA CLARITA, CA--(Marketwired - July 12, 2016) - BioSolar, Inc. (OTCQB: BSRC), a developer of breakthrough energy storage technology and materials, today shared recent media articles detailing the Company's approach to increasing capacity and reducing costs of lithium ion batteries, the predominant storage devices used by electric vehicles, personal electronics, and many other commercial and consumer applications.
In a recent contributed byline entitled "Improving Lithium Ion Battery for Future Energy Storage Needs" for Battery Power Magazine, a leading print and online battery publication, BioSolar CEO Dr. David Lee cites challenges often associated with the chemistry currently embedded with existing lithium-ion batteries, as well as cost, for lack of advancements within the sector. Dr. Lee states that BioSolar seeks to reduce the cost of manufacturing and extend the lifetime of lithium-ion batteries, enabling mass adoption for electric vehicles as well as improvements in battery capabilities for personal electronics needs.
Dr. Lee was also interviewed in a Q&A with AltEnergy Magazine, where he expounded on the Company's recent announcements and other related developments that could impact capacity potential for anodes and cathodes, the two key components for the efficiency of lithium-ion battery technology.
"We believe that our ambitions to develop battery technology that enables lower cost and with longer life span, will meet the growing market demand for lithium-ion battery storage technology," said Dr. Lee. "These efforts, as highlighted by multiple battery and sustainability media publications, are a direct reflection of the strong leadership and intellectual property that we have continued to develop since entering this industry."
BioSolar believes its efforts fall in line with the current energy storage and battery technology landscape. A recent Cleantechnica article focuses on the importance of a decreased market cost for batteries is essential to the continued growth of the renewable energy set to total 45.1 GW in the next decade. The authors note that "system costs are still one of the biggest barriers to the industry's growth," yet nevertheless, it is expected that declining prices will open up "new use cases and geographic markets."
About BioSolar, Inc.
BioSolar is developing a breakthrough technology to double 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. Today's state-of-the-art lithium-ion battery is limited by the storage capacity of its cathode, while the anode can store much more. Inspired by nature, we are developing a novel cathode based on inexpensive conductive polymers and organic materials that can fully utilize the storage capacity of conventional anodes. By integrating our high capacity, high power and low-cost cathode with conventional anodes, battery manufacturers can create a super lithium-ion battery that can double the range of a Tesla, power an iPhone for 2 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.
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.