DAYTON, Ohio, May 07, 2024 (GLOBE NEWSWIRE) -- Solidion Technology, Inc. (Nasdaq: STI), an advanced battery technology solutions provider, today unveiled their patent-protected bipolar electrode-to-pack (BEEP) technology. Rather than creating individual cells and modules, Solidion’s BEEP technology produces a high-voltage, high-capacity battery pack by stacking and connecting bipolar electrodes and solid electrolyte layers in series and in parallel.
Solid-state batteries are expected to revolutionize the electric vehicle industry with their inherent safety, fast charging, and an achievable range of over 900 miles on a single charge. However, two major issues have prevented the wide-spread commercialization of solid-state lithium batteries – the difficulty and high cost of manufacturing the batteries and the limited space available in an EV to accommodate a bulky battery system. Current battery pack designs devote much of that space to fire mitigation, a large number of connectors between cells or modules, and large volumes of protective housing materials.
Solidion’s BEEP platform technology solves both this design issue and reduces the manufacturing difficulty, while contributing to a dramatically reduced battery weight, volume and cost. This is accomplished due to the BEEP technology pack requiring only one casing and a small number of connectors – instead of the hundreds of housings and connectors in today’s batteries.
“Solid-state batteries are the future of the EV market but commercialization has been held back by design and manufacturing-related challenges,” said Solidion Board Chairman and Chief Science Officer Dr. Bor Jang. “The internal bipolar electrode stacking in our patent-protected BEEP technology is intrinsically simpler and easier to develop as compared to making individual cells and using external cables to connect multiple pre-fabricated cells. Solidion’s BEEP technology has the ability to deliver significantly improved manufacturability and reduced manufacturing cost – ultimately leading to a faster route to commercialization.”
This disruptive platform technology is backed by a superior IP portfolio in solid-state batteries. Solidion’s parent company, Global Graphene Group, was recognized in 2021 as the global leader in the patent landscape of solid-state electrolytes for lithium batteries. KnowMade, a French company specializing in research and analysis of scientific and patent information, analyzed more than 14,400 patent filings related to solid-state Li-ion batteries with inorganic solid electrolytes. Global Graphene Group was one of just two US companies recognized in the list. In 2023, Global Graphene Group was ranked 9th in the world by KnowMade in the category of solid-state battery IP.
Solidion began trading on the Nasdaq on February 5, 2024 following a merger between Honeycomb Battery Company and Nubia Brand International Co., a special purpose acquisition company (SPAC).
About Solidion Technology, Inc.
Headquartered in Dallas, Texas with pilot production facilities in Dayton, Ohio, Solidion’s core business includes manufacturing of battery materials and components, as well as development and production of next-generation batteries for energy storage systems and electric vehicles for ground, air, and sea transportation. Recognized as a global IP leader in both the high-capacity anode and the high-energy solid-state battery, Solidion is uniquely positioned to offer two lines of battery products: (i) advanced anode materials (ready for production expansion); and (ii) three classes of solid-state batteries, including Silicon-rich all-solid-state lithium-ion cells (Gen 1), anodeless lithium metal cells (Gen 2), and lithium-sulfur cells (Gen 3), all featuring an advanced polymer- or polymer/inorganic composite-based solid electrolyte that is process-friendly. Solidion’s solid-state batteries can be manufactured at scale using current lithium-ion cell production facilities; this feature enables fastest time-to-market of safe solid-state batteries. Solidion batteries are designed to deliver significantly extended EV range, improved battery safety, lower cost per KWh, fastest time-to-market, and next-gen cathodes (potential to replace expensive nickel and cobalt with sulfur (S) and other more abundant elements).
Cautionary Note Regarding Forward-Looking Statements:
This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Solidion Technology Inc., (NASDAQ: STI) (the “Company,” "Solidion,” “we,” “our” or “us”) desires to take advantage of the safe harbor provisions of the Private Securities Litigation Reform Act of 1995 and is including this cautionary statement in connection with this safe harbor legislation. The words "forecasts" "believe," "may," "estimate," "continue," "anticipate," "intend," "should," "plan," "could," "target," "potential," "is likely," "expect" and similar expressions, as they relate to us, are intended to identify forward-looking statements. We have based these forward-looking statements primarily on our current expectations and projections about future events and financial trends that we believe may affect our financial condition, results of operations, business strategy, and financial needs. Important factors that could cause actual results to differ from those in the forward-looking statements include (i) the lack of a third party valuation in determining to pursue the business combination, (ii) the effect of the announcement or closing of the business combination on Solidion’s business relationships, operating results and business generally, (iii) risks that the business combination disrupts current plans and operations of Solidion and potential difficulties in Solidion employee retention as a result of the transaction, (iv) the outcome of any legal proceedings that may be instituted against Honeycomb Battery Company or against Nubia Brand International Corp. (“Nubia”) related to the transaction, (v) the ability to maintain the listing of Solidion’s securities on a national securities exchange, (vi) volatility of the price of Solidion’s securities due to a variety of factors, including changes in the competitive and highly regulated industries in which Solidion operates, variations in operating performance across competitors, changes in laws and regulations affecting Solidion’s business and changes in the combined capital structure, (vi) the ability to implement business plans, forecasts, and other expectations after the completion of the transaction, and identify and realize additional opportunities, and (vii) the risk of downturns and a changing regulatory landscape in the highly competitive EV battery industry, and the Risk Factors contained within our filings with the SEC, including Nubia’s definitive proxy statement filed with the SEC on November 8, 2023. Any forward-looking statement made by us herein speaks only as of the date on which it is made. Factors or events that could cause our actual results to differ may emerge from time to time, and it is not possible for us to predict all of them. We undertake no obligation to publicly update any forward-looking statements, whether as a result of new information, future developments or otherwise, except as may be required by law.
Solidion Technology Inc. Contacts
For Investors: ir@solidiontech.com
For Media: solidionPR@icrinc.com
