ANN ARBOR, Mich.--(BUSINESS WIRE)--The Coretec Group, Inc. (OTCQB: CRTG), developers of silicon anode active materials for lithium-ion batteries and cyclohexasilane (CHS) for cleantech and emerging tech applications, provides a corporate update that reflects on 2022 milestones and lays out objectives for the remainder of the year, as the electric vehicle and battery markets continue to grow at a rapid pace, creating exciting opportunities for the future.
Coretec has devoted significant time toward developing its Endurion battery program, one that applies the company’s expertise in engineering silicon to develop a novel, silicon-based active anode material intended for fast-charging, improved cycling and increased energy density in lithium-ion batteries. The Company’s first step in that effort includes the development of a lithium-ion battery prototype with their active material. In February, the Company opened its own, fully operational laboratory, giving them the flexibility to innovate and develop various paths to the creation of these silicon anodes.
Coretec also added to its team Research Scientist Dr. Nathanael Downes, a PhD in Inorganic Chemistry from the University of Michigan, whose expertise in silicon and inorganic synthetic chemistry make him a perfect fit for the Endurion project. Dr. Downes and The Coretec Group’s scientists continue to develop silicon quantum dots and CHS intended for use in silicon anodes.
Other company highlights from the first half of the year include:
- Filing a full utility patent on the company’s provisional patent for the development of advanced silicon anodes using CHS and other silanes, covering the use of CHS to produce a wide variety of silicon anodes for use in lithium-ion batteries and providing protection for the Endurion program
- Filing a trademark application for Endurion
- Starting a research project with the University of Adelaide to examine alternative, low-phonon energy glasses that have a greater potential for large-scale manufacturing
As the year progresses, Coretec aims to increase the speed of the Endurion program’s development, made possible with the Company’s fully operational laboratory. Concurrently, the Company is working to scale its ability to manufacture CHS in significant quantities, at which point it will implement its process with their manufacturing partners.
To further facilitate development of the Endurion program, Coretec is actively seeking strategic partners with established revenue, complementary technology and the structure in place for manufacturing, testing and scaling product. Those with existing revenue are especially attractive, as existing customer bases would provide Coretec with real world feedback as it commercializes its technology.
“We’re proud of all we’ve accomplished so far this year, but also understand that execution for our vision is critical to both potential partners as well as the broader capital markets,” said Matthew Kappers, CEO of The Coretec Group. “The Endurion program and CHS work hand in hand and remain our primary focus to build the most value. We believe our technology has immensely transformative potential for the EV and battery industries, and as the year progresses, look forward to demonstrating its potential and unique differentiators.”
The Coretec Group will be holding an investor call in August 2022 to further discuss the year’s milestones thus far and what to expect in the coming months.
About The Coretec Group
The Coretec Group, Inc. is developing a portfolio of engineered silicon to improve energy-focused verticals, including electric vehicle and consumer batteries, solid-state lighting (LEDs), and semiconductors, as well as 3D volumetric displays and printable electronics. The Coretec Group serves the global technology markets in energy, electronics, semiconductor, solar, health, environment, and security.
For more information, please visit thecoretecgroup.com.
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Forward-Looking Statements
The statements in this press release that relate to The Coretec Group’s expectations with regard to the future impact on the Company’s results from operations are forward-looking statements and may involve risks and uncertainties, some of which are beyond our control. Such risks and uncertainties are described in greater detail in our filings with the U.S. Securities and Exchange Commission. Since the information in this press release may contain statements that involve risk and uncertainties and are subject to change at any time, the Company’s actual results may differ materially from expected results. We make no commitment to disclose any subsequent revisions to forward-looking statements. This release does not constitute an offer to sell or a solicitation of offers to buy any securities of any entity.
