GROUP1 SECURES LICENSE TO SHARP CORPORATION'S POTASSIUM-ION BATTERY MATERIAL TECHNOLOGY

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Jun 14, 2023, 08:00 ET

AUSTIN, Texas, June 14, 2023 /PRNewswire/ -- Group1, a leading company in Potassium-ion battery technology, today announced it has signed a technology license agreement with Sharp Corporation for alkali ions battery technology. This agreement grants Group1 exclusive rights to Sharp's patent portfolio related to Potassium based cathode materials, enabling the next generation of sustainable, efficient, and cost-effective batteries.

Potassium Prussian White (KPW), a focus of Group1 and part of the licensed portfolio, is a 4V cathode material and stands out for being free of critical minerals such as Lithium, Cobalt, and Nickel, enabling sustainable Potassium-ion batteries (KIBs). This substantial advantage over traditional Lithium-ion batteries (LIBs) mitigates dependence on critical minerals, addressing supply chain risks and environmental concerns.

Nearly all the precursor materials required for KPW production can be sourced within North America. This strategic advantage establishes a domestic supply chain, reinforcing American energy security and presenting a transformative opportunity for American energy storage leadership.

Moreover, KPW is compatible with commercial graphite anodes and organic electrolytes, allowing for seamless integration into existing LIB manufacturing processes. This practical and economical solution addresses the increasing demands of LIB manufacturing while offering comparable energy density and safety to Lithium Iron Phosphate (LFP) based LIBs.

This agreement with Sharp advances Group1's IP leadership. It expands on their existing license agreement with the University of Texas at Austin for KIB technology developed in the labs of 2019 Chemistry Nobel laureate Prof. JB Goodenough. This combination solidifies Group1's position as the global leader in KIB technology.

"We are extremely pleased to announce that Group1 has secured a leading portfolio of key intellectual properties related to KIB materials technology to develop high-performing, safe, and sustainable alternatives to LIBs. We strongly believe that the combination of licensed technology and internally developed IP on all aspects of KIB technology enables Group1 to bring KIB technology to our customers to be used as a "drop-in" at existing LIB manufacturing," said Dr. Yakov Kutsovsky, Executive Chairman and Chief Scientific Officer of Group1.

About Group1

Founded in 2021 and based in Austin, TX, Group1 is an engineered materials company focusing on the commercialization of Potassium-ion batteries. The company is revolutionizing the energy industry by enabling sustainable, efficient, and cost-effective energy storage -- expanding beyond the limitations of Lithium-ion batteries while building on the best of Lithium-ion technologies.

Email: [email protected]
Website: www.group1.ai

SOURCE Group1