ANN ARBOR, Mich., May 05, 2022--(BUSINESS WIRE)--The Coretec Group, Inc., (OTCQB: CRTG) – developers of a silicon anode for lithium-ion batteries, engineered silicon, and 3D volumetric displays – provided details of its battery development program and unveiled a new brand name, Endurion, as part of a progress update on its ongoing battery-development program during its first-quarter shareholder call April 29.
"Our battery development program, Endurion, is up, running, and off to a great start," The Coretec Group CEO Matthew Kappers said. "We expect the silicon anode we’re developing to enable faster charging, improved cycling, and increased energy density in lithium-ion batteries. These are the industry objectives that our team of engineered-silicon experts is working to solve."
While the battery industry acknowledges silicon as the next frontier in increasing battery life and utility, significant challenges remain. To date, battery developers have experienced expansion and contraction problems with silicon anodes as lithium-ions are absorbed and discharged. During this process, larger silicon particles break down, immediately reducing the charging capacity of the anodes.
"Our Endurion battery development program is using silicon-based nanoparticles to mitigate the swelling and pulverization issues that were common in early iterations of silicon anodes in the industry," Kappers said. "Additionally, our nanoparticles allow lithium-ions to travel faster to the necessary silicon atoms. This leads to faster charging times, an industrywide goal. We are also manipulating the chemistry of our nanoparticles to reduce silicon breakdown and enable a better cycle life, another industry goal."
The Coretec Group recently posted a video presentation to its website in which Dr. Michelle Tokarz, PhD, Vice President of Partnerships and Innovation, delivers a more in-depth explanation of the company’s silicon anode approach to battery development.
Battery developments, particularly for electric vehicles, are some of the hottest topics in the news these days as nations and companies adjust their energy and propulsion policies toward lower carbon emissions and away from pure dependence on oil and gas.
On its quarterly call, the company shared that it aims to have a full working battery cell that improves battery cycling and charging. The improvements could be applicable in a variety of industries, including electric vehicles, military technologies, and mobile electronics.
The newly minted name for the ongoing battery program, Endurion, combines the words endurance and ion. Endurion’s blue-and-green logo symbolizes the battery program’s electric and sustainable nature.
"We are energized by our work in the Endurion battery program," said Matt Kappers, CEO of The Coretec Group. "By applying our deep knowledge and intellectual property holdings in engineered silicon to silicon anodes for lithium-ion batteries, we believe we can enable batteries with greater energy density, faster charging, and longer service lives."
During the call, The Coretec Group also shared its progress on synthesizing CHS in its in-house wet laboratory, preparing for increased domestic CHS production, and progress on its acquisition efforts. A full transcript of the first-quarter investor call is now available on the company’s investor relations website.
About The Coretec Group
The Coretec Group, Inc. is developing a portfolio of engineered silicon to improve energy-focused verticals, including electric vehicle and consumer batteries, solid-state lighting (LEDs), and semiconductors, as well as 3D volumetric displays and printable electronics. The Coretec Group serves the global technology markets in energy, electronics, semiconductor, solar, health, environment, and security.
The statements in this press release that relate to The Coretec Group’s expectations with regard to the future impact on the Company’s results from operations are forward-looking statements and may involve risks and uncertainties, some of which are beyond our control. Such risks and uncertainties are described in greater detail in our filings with the U.S. Securities and Exchange Commission. Since the information in this press release may contain statements that involve risk and uncertainties and are subject to change at any time, the Company’s actual results may differ materially from expected results. We make no commitment to disclose any subsequent revisions to forward-looking statements. This release does not constitute an offer to sell or a solicitation of offers to buy any securities of any entity.
View source version on businesswire.com: https://www.businesswire.com/news/home/20220505005412/en/
The Coretec Group, Inc.
+1 (866) 916-0833