BioSolar Inc. has signed a joint development agreement with a South Korean battery maker for future collaboration.
The Santa Clarita alternative energy manufacturer has partnered with Top Battery to develop, make and market high energy lithium-ion batteries using BioSolar technology.
BioSolar’s technology is a silicon anode material, which data suggests could achieve higher capacity while reducing cost. The company recently completed the laboratory phase of the development of that material.
Chief Executive David Lee said that Top Battery was the right development partner given its experience in bringing innovative technologies to market.
“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,” Lee said in a prepared statement.
Shares closed up a cent, or more than 17 percent, to 6 cents on the over-the-counter market.