Core Optics' revenue should have been sufficient to fund the synthesis of anode material for partner evaluation. Once it enters commercialization, it gets more expensive.
They have already increased their lab space to scale up anode material synthesis.
From Transcript of Shareholder Call on March 14, 2024. “That brings us to the 2024 priorities. And our first priority was to increase our lab base, which we were able to do without increasing our rent cost. This expansion is critical, as we now need to move from coin cells to pouch-cell formations. Pouch cells are widely used in a number of applications that we are pursuing. In addition to building bigger batteries, we look to scale up our anode material synthesis capabilities and be able to provide our partners with kilograms of material for evaluation this year.”
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