The Coretec Group Announces Strategic Partnership with Battery Technology Developer Theion
As a development partner and key material supplier, Coretec will provide CHS for Theion's Quasi Solid-State Batteries
ANN ARBOR, MI / ACCESSWIRE / October 27th, 2020 / The Coretec Group, Inc., (OTC Pink:CRTG) has established a strategic partnership with Theion, a battery technology company based in Berlin, Germany. Theion develops next-generation batteries using the Company's Cyclohexasilane ("CHS") technology. The announcement represents a milestone in the Company's strategic plan to develop a portfolio of silicon-based materials utilizing CHS in energy-focused applications such as electric vehicles, solar, semiconductor, solid-state lighting, and many others.
Theion is evaluating Coretec's CHS as a key material in their battery technology and plans to leverage its unique properties to create Quasi Solid-State Batteries (QSSB), a next-generation battery which will surpass all liquid electrolyte batteries in the near future. Through the partnership, Coretec will be both a development partner and key material supplier to Theion.
The QSSB from Theion will be superior to any currently manufactured battery, offering more capacity by mass and volume, a full charge within minutes, and a longer lifespan with a larger number of charge and discharge cycles. Coretec's CHS will be used in the silicon doping process of the anode and, due to its unique material properties, will be a key process step to enhancing coulombic efficiency.
"We are proud to partner with Theion as they bring the Quasi Solid-State Battery design to life. Together, we're aiming to deliver a battery that is superior in all critical performance metrics by leveraging the unique material properties of CHS," said Michael Kraft, CEO of The Coretec Group. "Our CHS technology has so much potential for battery designs, helping battery developers and manufacturers create next-generation models that don't force a compromise between cost, capacity and longevity."
"Once we learned about CHS, we knew it was the ideal solution for our QSSB technology. Creating battery technologies that allow for faster charging, offer more capacity and are a sustainable alternative to current options on today's market is at the core of what we do and with CHS, we can achieve that in a way that is scalable," said Florian Ruess, CEO of Theion. "People want and deserve a better battery, and through our partnership with Coretec, we believe we'll be able to bring us closer to creating a battery that will spark the electric mobility breakthrough."
Coretec has partnered with Evonik Industries to supply CHS, thereby ensuring long-term volume supply of CHS supporting Theion's new technology.
To learn more about The Coretec Group or to submit interest in collaboration, please visit www.thecoretecgroup.com.
About The Coretec Group, Inc.
The Coretec Group, Inc. (the "Company") utilizes a portfolio of silicon-based and volumetric display materials to pursue commercial development of products in energy-focused verticals such as energy storage, semiconductor, solar, and solid-state lighting, as well as printable electronics and 3D volumetric displays. For more information, visit www.thecoretecgroup.com. Follow The Coretec Group on Twitter and Facebook.
Theion (https://www.theion.de) is a battery technology company in Berlin, Germany that develops Quasi-solid-state batteries that will surpass all liquid electrolyte batteries in the near future. Theion batteries have more capacity by mass and by volume, can be charged in minutes, and enable a large number of charge/discharge cycles.
The statements in this press release that relate to the company'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.
SOURCE: The Coretec Group Inc.
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Released October 27, 2020