Lockheed Extends Ion Storage Relationship

Evaluation Agreement Signals Continued Commitment

BELTSVILLE, Md.--(BUSINESS WIRE)--Ion Storage Systems (ION) today announced the kickoff of a year-long, paid evaluation agreement with Lockheed Martin (LM) which expands upon a four-year relationship that began during ION’s incubation at the University of Maryland. The agreement calls for a comprehensive assessment of ION’s breakthrough solid state battery technology for integration into multiple product applications across LM’s various corporate divisions and is another major step towards commercial adoption of ION’s technology.

“We are proud of our work in bringing a safer, energy dense, and versatile battery to market," said Ricky Hanna, ION CEO. “Our unique patented technology, developed and manufactured in the US will deliver significant advancements over traditional technologies. ION is grateful for LM’s vote of confidence towards our further development and commercialization.”

“We believe that the benefits of ION’s solid state battery technology are critical to unlocking our products’ future potential,” said LM senior program manager Steven Shepard, who oversees the company’s power and propulsion research portfolio. “We are pleased with ION’s progress thus far and look forward to their successful completion of this evaluation.”

About ION
Ion Storage Systems (ION) creates high energy density solid state lithium batteries that are safer, lighter and enable form factors with tighter packing density that enhance system performance. ION’s nonflammable technology offers safe operation, greater abuse tolerance, and both volume and weight reduction. These advances empower the world’s innovators to break down barriers in their product development cycles to redefine what is possible and begin building the products-of-tomorrow today.