Our Partnership with Evonik & What’s Next for CHS
Recently, we shared exciting news that Coretec entered into a strategic manufacturing partnership with Evonik Industries, a renowned world leader and supplier in specialty chemicals. We’d like to expand on what this partnership means to the overall Coretec strategy.
Joining forces with Evonik is a significant step in our progress toward CHS commercialization. It solidifies our supply of CHS with a world-class specialty chemical manufacturer and provides a clear date of CHS availability for our customer’s application development using CHS. By the end of 2020 we expect to have CHS in hand that we will ship to customers for evaluations and product development in a variety of energy focused applications.
Recently we’ve published CHS’s impact and resulting benefits to several high growth industries. LED manufacturers, using CHS derived Quantum Dots (QDs), can deliver specific light frequency ranges to deliver UV light for coronavirus and microbial disinfecting, and drive technical agriculture applications that accelerate plant growth and other desired attributes such as a higher percentage of vitamins and longer shelf life.
In the renewable energy space, solar and wind renewables can be a higher percentage of renewable energy integrated into the electrical grid when combined with Gen 2.0 grid-scale energy storage. Gen 2.0 Li Ion batteries will deliver significant improvements to faster charging, higher power density, and improved charge-cycling without detrimental effects accumulating and shortening battery life. Combined with directed and focused product development, silicon anode Li Ion batteries will deliver truly Green Energy to charge your EV, as well as compete directly in cost and convenience with combustion engine vehicles.
Multi-billion $ investments are being made in these applications funding innovation and development which will bring these products to the marketplace over the next 5 years. By 2025, the EV battery market is expected to hit $84 billion, UV disinfection market is expected to grow to $5.3 billion and the LED market is expected to hit $127.3 billion. This year, we will be taking CHS from the lab to customers, allowing them to pilot CHS in their application development and within their manufacturing process so that next generation applications integrated with CHS can deliver improved performance that meets the customer and market needs.