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BioSolar Signs a Joint Development Agreement with Ferroglobe, the Global Leader in the Supply of Silicon Material

SANTA CLARITA, Calif., June 19, 2018 (GLOBE NEWSWIRE) -- BioSolar, Inc. (BSRC) (“BioSolar” or the “Company”), a developer of breakthrough energy storage technology and materials, today announced that the Company has executed a joint development agreement with Silicio Ferrosolar SLU, a subsidiary of Ferroglobe PLC (GSM), for collaborative efforts to assess, develop, and/or market silicon anode materials for high power, high energy lithium ion batteries by integrating BioSolar technology and Ferroglobe silicon materials.

Ferroglobe, the global leader in the supply of silicon metal, is focused on the development of new advanced materials and technologies to enhance the value of its products. Ferroglobe’s developed and commercialized technologies include the Electromagnetic Cold Crucible (EMCC), Fast Segregation Systems (FSS), Induction Furnaces for silicon melting, Vacuum Furnaces designed to remove volatile impurities, and special crushing machines to avoid contamination. Ferroglobe has also developed its own technology for the production of solar-grade silicon metal, and is capitalizing on this experience in developing diverse applications for such high purity silicon.

This joint agreement follows BioSolar’s recent announcement that it has achieved a significant performance milestone in silicon micro-particle (SiMP) anodes enhanced by its innovative silicon anode additive technology, with data suggesting its technology can achieve significantly higher capacity with lowered costs. Through this partnership, as well as other potential industry relationships, BioSolar seeks to capitalize upon what many consider to be a high growth market opportunity, as recent reports predict the silicon anode battery market will hit a CAGR of 21.5% through 2024.

With its proprietary technology relating to silicon anode material for lithium ion batteries, BioSolar believes Ferroglobe is a natural fit as a developmental partner. As the global leader in the supply of silicon materials, it possesses experience in incorporating technologies such as BioSolar’s silicon additive technology into its own raw silicon materials.

“We are excited to partner with BioSolar, a company whose technology represents tremendous upside in the development of lithium-ion batteries with respect to capacity, efficiency and safety,” said Benoist Ollivier, EVP-Technology at Ferroglobe. “We continue to focus on the development of high value added advanced materials, and are confident that our focus on silicon anode material development will yield results that ultimately reduce costs and improve output.”

“We are pleased to have Ferroglobe as a development partner, a company with a proven track record of developing and supplying silicon materials to global marketplaces,” said Dr. David Lee, CEO of BioSolar. “We are confident that this partnership and its subsequent results will continue to demonstrate not only higher performance but also better price points, strengthening BioSolar’s commercial viability and market potential.”