Solidion Develops a Lithium Battery that can be Charged in 5 minutes With Key Newly Granted US Patent

DAYTON, Ohio, Oct. 30, 2024 (GLOBE NEWSWIRE) -- Solidion Technology, Inc. (ticker "STI"), an advanced battery technology solutions provider, today announced that its battery scientists have successfully developed a cost-effective strategy for enabling completion of charging in 5 minutes for a wide range of lithium batteries.

Range anxiety, the fear that an electric vehicle (EV) may run out of battery power during a trip, has long been regarded as a key reason for consumers' reluctance to adopt EVs. This issue is exacerbated by the notion that recharging batteries usually takes much longer time than refueling internal combustion engine vehicles (ICEVs).

To be competitive with ICEVs, fast charging of EVs should be weather-independent and comparable in time as refueling a gasoline car. Variations in temperatures in different geographic regions and seasons poses a challenge in fast charging EV batteries, since batteries can behave very differently. In winter, half of the United States and most of Northern Europe has an average temperature below 0°C. None of today's EV batteries allow for fast charging at low temperatures.

Responsive to EV market's urgent need for a battery that can be fast charged at all climate conditions, Solidion's technical team has developed and patented an effective method and system for fast charging a battery cell or pack without negatively impacting the battery. The strategy also allows a battery system to operate in a safe mode and avoid a thermal runaway problem.

The technology uses a graphene-based heat spreader to quickly move heat from a battery to warm it up before or during fast charging. It also has a cooling system that kicks in when the battery is in use, like when powering a device or electric vehicle. The heat spreader moves the heat to the cooling system for efficient cooling. The system switches between heating when charging and cooling when discharging. Graphene, with its super high thermal conductivity (5,300 W/m-K), is much more effective than copper, which has a lower conductivity (410 W/m-K) and is four times heavier.

Solidion is aimed at fully commercializing this technology in 2-3 years.

About Solidion Technology, Inc.

Headquartered in Dallas, Texas, with production facilities in Dayton, Ohio, Solidion's core business includes manufacturing of battery materials and components, as well as development and production of next-generation batteries for energy storage systems and electric vehicles for ground, air, and sea transportation. Recognized as a global IP leader in both the high-capacity anode, utilizing a non-silane based solution, and the high-energy solid-state battery. Solidion is uniquely positioned to offer two lines of battery products: (i) advanced anode materials (ready for production expansion); and (ii) three classes of solid-state batteries, including Silicon-rich all-solid-state lithium-ion cells (Gen 1), anodeless lithium metal cells (Gen 2), and lithium-sulfur cells (Gen 3), all featuring an advanced polymer- or polymer/inorganic composite-based solid electrolyte that is process-friendly. Solidion's solid-state batteries can be manufactured at scale using current lithium-ion cell production facilities; this feature enables fastest time-to-market of safe solid-state batteries. Solidion batteries are designed to deliver significantly extended EV range, improved battery safety, lower cost per KWh, fastest time-to-market, and next-gen cathodes (potential to replace expensive nickel and cobalt with sulfur (S) and other more abundant elements).

Forward-Looking Statements

This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Solidion Technology Inc., (NASDAQ:STI) (the "Company," "Solidion," "we," "our" or "us") desires to take advantage of the safe harbor provisions of the Private Securities Litigation Reform Act of 1995 and is including this cautionary statement in connection with this safe harbor legislation. The words "forecasts" "believe," "may," "estimate," "continue," "anticipate," "intend," "should," "plan," "could," "target," "potential," "is likely," "expect" and similar expressions, as they relate to us, are intended to identify forward-looking statements. We have based these forward-looking statements primarily on our current expectations and projections about future events and financial trends that we believe may affect our financial condition, results of operations, business strategy, and financial needs.

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