Company Also Featured in Multiple Media Publications Read by Key Audiences Within Clean Technology and Engineering Sectors
SANTA CLARITA, CA--(March 08, 2016) - BioSolar, Inc. (OTCQB: BSRC), developer of breakthrough energy storage technology and materials, today announced that it has jointly filed national phase patent applications in South Korea and China for "a multicomponent-approach to enhance stability and capacitance in polymer-hybrid supercapacitors." This invention also provides core basis for the Company's super battery technology.
BioSolar previously filed an international patent application under the Patent Cooperation Treaty (PCT) for the technology that forms the basis for the proprietary technology the Company believes will improve storage capacity and increase the lifetime of supercapacitors and batteries. The PCT application, which establishes a filing date in all contracting states, requires the next step of entering into national or regional phases to proceed towards grant of one or more patents.
BioSolar considers China to be a key audience of potential customers and partners for the Company's proprietary technology. The Chinese government has taken what BioSolar perceives to be a very positive stance to strengthening the market opportunity, increasing production of and sales for pure electric vehicles and plug-in hybrids to more than five million units by 2020. Thus, China's power battery market is expected to quadruple by 2017 and exceed sales of 160 billion Yuan ($25B) within the next 10 years, according to China Industrial Association of Power Sources.
BioSolar has also been the recent subject of multiple articles published by leading renewable energy as well as engineering publications. Cleantechnica, a leading clean technology-focused website, published an article detailing the scientific team including Nobel Laureate Dr. Alan Heeger, the Company's pursuit of $100 per kWh for high capacity energy storage, and why the Company's technology could potentially solve two critical issues surrounding traditional lithium-ion battery technology. Chemical Engineering Magazine also published an article taking a detailed view of the key differentiators of BioSolar technology and that of traditional lithium-ion intercalation chemistry, citing the steps required to commercialize and potentially license the technology to battery manufacturers.
BioSolar is currently funding a sponsored research program at the University of California, Santa Barbara ("UCSB"), to further develop its super battery technology. The lead inventors of the technology are UCSB professor Dr. Alan Heeger, the recipient of a Nobel Prize in 2000 for the discovery and development of conductive polymers, and Dr. David Vonlanthen, a project scientist and expert in energy storage at UCSB.
About BioSolar, Inc.
BioSolar is developing a breakthrough technology to double the storage capacity, lower the cost and extend the life of lithium-ion batteries. A battery contains two major parts, a cathode and an anode, that function together as the positive and negative sides. Today's state-of-the-art lithium-ion battery is limited by the storage capacity of its cathode, while the anode can store much more. Inspired by nature, we are developing a novel cathode based on inexpensive conductive polymers and organic materials that can fully utilize the storage capacity of conventional anodes. By integrating our high capacity, high power and low-cost cathode with conventional anodes, battery manufacturers can create a super lithium-ion battery that can double the range of a Tesla, power an iPhone for 2 days straight, or store daytime solar energy for nighttime use. Founded with the vision of developing breakthrough energy technologies, BioSolar's previous successes include the world's first UL approved bio-based back sheet for use in solar panels.
To learn more about BioSolar, please visit our website at http://www.biosolar.com.
Safe Harbor Statement
Matters discussed in this press release contain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. When used in this press release, the words "anticipate," "believe," "estimate," "may," "intend," "expect" and similar expressions identify such forward-looking statements. Actual results, performance or achievements could differ materially from those contemplated, expressed or implied by the forward-looking statements contained herein. These forward-looking statements are based largely on the expectations of the Company and are subject to a number of risks and uncertainties. These include, but are not limited to, risks and uncertainties associated with: the impact of economic, competitive and other factors affecting the Company and its operations, markets, product, and distributor performance, the impact on the national and local economies resulting from terrorist actions, and U.S. actions subsequently; and other factors detailed in reports filed by the Company.
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