Company leadership traveled to South Korea and identified a potential partner with anode material processing capabilities

SANTA CLARITA, Calif., Oct. 23, 2018 (GLOBE NEWSWIRE) -- BioSolar, Inc. (OTCQB:BSRC) (“BioSolar” or the “Company”), a developer of breakthrough energy storage technology and materials, today provided a progress report on the Company’s recent efforts to form additional partnerships designed to scale a proof of concept of a Li-ion battery that incorporates its proprietary anode additive material.   

Representatives of BioSolar and the Company’s technology partners, recently visited Top Battery, another technology development partner, in South Korea. During the trip, BioSolar also met with a number of technology companies including a potential technology development partner with extensive knowledge and capability in Si anode material processing. As a result of these meetings, the team is in the process of forming a mutually beneficial alliance with the aforementioned partners in South Korea to integrate BioSolar’s solid additives into Ferroglobe’s Si raw materials to produce Si anode materials incorporating BioSolar’s additive technology.

BioSolar has continued its collaboration with Top Battery to design and build commercial grade prototype batteries to demonstrate the benefits of the Company’s own Si additive technology for next generation Li-ion batteries. Furthermore, BioSolar intends to establish additional development partnerships to ensure successful preparation of the Company’s Si anode material to be incorporated into commercial grade proof of concept Li-ion full cell prototype batteries. 

“Our team’s recent trip to South Korea was very productive in that it advanced our established relationships with Ferroglobe and Top Battery, but also established new ones with potential long-term partners,” said Dr. David Lee, Chief Executive Officer of BioSolar. “Ultimately, our goal for success will be enabled by two key initiatives: one on the technology development side, and the second being our ability to form meaningful, mutually beneficial relationships with the right partners. We believe both objectives are each on their respective track for success, and look forward to sharing details of these relationships as they mature.”

About BioSolar, Inc.

BioSolar is developing a breakthrough technology to increase the storage capacity, lower the cost and extend the life of lithium-ion batteries. A battery contains two major parts, a cathode and an anode, that function together as the positive and negative sides. BioSolar is currently investigating high capacity anode materials recognizing the fact that the overall battery capacity is determined by combination of both cathode and anode. By integrating BioSolar's high capacity anode, battery manufacturers will be able to create a super lithium-ion battery that can double the range of a Tesla, power an iPhone for two days straight, or store daytime solar energy for nighttime use. Founded with the vision of developing breakthrough energy technologies, BioSolar's previous successes include the world's first UL approved bio-based back sheet for use in solar panels.

To learn more about BioSolar, please visit our website at http://www.biosolar.com.

Safe Harbor Statement

Matters discussed in this press release contain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. When used in this press release, the words "anticipate," "believe," "estimate," "may," "intend," "expect" and similar expressions identify such forward-looking statements. Actual results, performance or achievements could differ materially from those contemplated, expressed or implied by the forward-looking statements contained herein. These forward-looking statements are based largely on the expectations of the Company and are subject to a number of risks and uncertainties. These include, but are not limited to, risks and uncertainties associated with: the impact of economic, competitive and other factors affecting the Company and its operations, markets, product, and distributor performance, the impact on the national and local economies resulting from terrorist actions, and U.S. actions subsequently; and other factors detailed in reports filed by the Company with the United States Securities and Exchange Commission.

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CONTACT INFORMATION

Investor Relations Contact:
Tom Becker
BioSolar, Inc.
ir@biosolar.com
(877) 904-3733

For Media Inquiries: 
Eric Fischgrund 
FischTank Marketing and PR
eric@fischtankpr.com