BioSolar’s second prototype for a lithium-ion battery is due to complete testing within a month, the Santa Clarita tech company announced on Tuesday.
With the help of its Korean technology partner Top Battery, BioSolar has developed an enhanced battery prototype that optimizes capacity and power capability.
The company hopes its technology can be used in electric cars, with the global electric vehicle battery market expected to exceed $90 billion by 2025, BioSolar said in a statement.
After Top Battery testing is complete, the company plans to partner with a manufacturing and development company for further assessment.
“Thanks in large part to our technology partner(s), we remain on track to demonstrate the potential for our energy storage materials in a real world setting versus early stage R&D,” David Lee, chief executive of BioSolar, said in a statement. “We are confident that our technology can play a critical role across the battery supply chain, especially when the results of the aforementioned testing are applied to the electric vehicle category that is universally recognized for its high growth.”
Shares of BioSolar (BSRC) closed Tuesday at 1 cent on the over-the-counter market.