BioSolar developing technology for better batteries

US firm BioSolar Inc (OTCMKTS:BSRC) on Tuesday said it was developing a technology that could lead to higher capacity and lower cost lithium-ion batteries.

According to a BioSolar internal analysis, a battery using the company's technology can double the range of a Tesla car, costs four times less, charges faster and has a longer life. It could also potentially breach the USD-100-per-kWh cost barrier for mass adoption of energy storage.

Chief executive David Lee explained that today's lithium-ion battery is limited by the storage capacity of its cathode, which is much lower than that of the anode. BioSolar is developing a cathode based on inexpensive conductive polymers and organic materials that can make full use of the storage capacity of conventional anodes, the CEO added.

"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," Lee said.

The energy storage market in the US is forecast to grow from USD 128 million (EUR 114m) last year to USD 1.5 billion by 2019, BioSolar said, citing data by GTM Research and the Energy Storage Association. Lithium-ion batteries account for more than 70% of installed energy storage capacity. According to Lux Research, the global energy storage market will reach USD 50 billion by 2020.

(USD 1.0 = EUR 0.888)

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