Golden Ally LifeTech Group Inc (AQPW)

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7 December 2020, Palm Beach, Florida

As Lithium Battery-Related Fires Continue to Setback the EV Market for Automakers, Signet’s Lithium-Free InCharge™ Energy Source Technology Readies to Power the EV Market

While the InCharge™, Signet’s solid-state, lithium-free energy source technology is being developed to power electric vehicles (EV), battery-related fires continue to hamper and frustrate automakers. In one setback after another, over the past several months, General Motors, Ford, Hyundai, and BMW are the latest automakers to address EV battery fire concerns.

The automakers ongoing safety issues are due in large part to the lithium battery, which continues to pose a fire hazard in every device in which it is used. “InCharge™ offers automakers the solution the EV market needs to realize its full potential,” said Signet CEO Ernest Letiziano, in reference to the battery-related fires. “Our energy device is lithium free and it offers the safe, clean energy that’s needed to power electric cars without fear of combustion.”

Recently, GM’s electric Chevy Bolt has been the focus of U.S. safety regulators after a set of fires that began under the backseats where the battery is located. Regulators have now begun a probe into more than 77,000 of the EVs.

Ford Motor Co. has had similar issues with its Escape plug-in hybrid presently available in Europe. Fire concerns which appeared over the summer have delayed the introduction of the Escape in the U.S. market because of it. Add Hyundai Motor Co. and BMW AG to the list of world-wide recalls to the list as well. Both companies have had issues with battery fires in plug-in models.

With safety a primary concern, Ford, GM and Hyundai have all said that they are still investigating the cause of the fires and are looking for possible solutions, as is BMW, which has stated that most of its battery-powered cars affected have yet to be sold to customers.

Signet’s lithium-free InCharge™ is an emerging new energy storage device and source of electrical energy without chemical reaction. Compared to available chemical-based and other problematic EV battery technologies, the compact, lightweight InCharge™ offers automakers a technology that does not use electrolyte or solvent or carbon emitting material. The device holds promise to change global energy storage technology in a meaningful way and provide automakers with a reliable power source for EVs that move the cars in a safer, greener direction.

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