Soelect's LiX® anode promises safer operation and higher performance for lithium metal batteries at a lower cost compared to pure lithium metals.

(PRUnderground) July 23rd, 2024

SOELECT Inc, a leading lithium metal anode manufacturer, today announced it has been issued a patent (No. 12,040,493) by the U.S. Patent and Trade Office for its manufacturing process to produce lithium metal composite anode. By enhancing safety, performance, and cost-effectiveness, this innovation has the potential to revolutionize future lithium metal batteries including semi-solid and all solid-state batteries.

LiX® anode, SOELECT’s proprietary composite lithium metal anode product is neither pure lithium metal nor lithium alloy. Unlike pure lithium metal anode products largely supplied by large-capacity vendors in China and USA, LiX® anode offers a diverse product portfolio tailored to different electrolyte types, including liquid, semi-solid-, and solid-state electrolytes. This flexibility in battery design enhances customer appeal, as LiX® batteries exhibit superior performance characteristics such as extended cycle life, high energy density, and rapid charging capability (15 minutes to 100%). The patented LiX® process is entirely solid and dry, ensuring a safe, clean, and sustainable manufacturing environment. This advancement is expected to significantly reduce production costs, presenting a competitive alternative to the pricing challenges posed by major Chinese suppliers.

“This is a significant milestone for SOELECT.” said Dr. Sung-Jin Cho, CEO and Founder, “This patent strengthens SOELECT’s position as a pioneer in the electric vehicle and energy storage sectors, leveraging its all-solid and dry processing technology. SOELECT looks forward to continuing to advance our technology as we establish a North Carolina manufacturing facility to supply Lithium Metal Composite Anode to the U.S. market and addressing a critical gap in the domestic supply chain.” The newly issued patent adds to the SOELECT’s portfolio which includes US patent (Un. 12,009,485) granted for Solid Electrolyte Membrane and 33 other patent applications in various stages of examination.

SOELECT continues to utilize its current production line capabilities, producing 200 Megawatt-Hour (MWh) per year, to manufacture LiX® anode materials according to the specifications of prospective commercial partners in the electric vehicle and defense industries.

To learn more, visit us at www.soelect.com or www.linkedin.com/company/soelectinc.

For SOELECT Inc.

Paul Kim, business@soelect.com (investors/Media)

Securities Disclaimer

SEC Disclaimer

This press release is neither an offer to sell nor a solicitation of an offer to buy any securities in the United States or elsewhere. This press release may contain forward-looking statements. The words or phrases “would be,” “will allow,” “intends to,” “will likely result,” “are expected to,” “will continue,” “is anticipated,” “estimate,” “project,” or similar expressions are intended to identify “forward-looking statements.” Actual results could differ materially from those projected in SOELECT’s business plan. The expansion of product development or announcements should not be construed as an indication in any way whatsoever of the future value of the Company’s common stock or its present or future financial condition. The Company’s filings may be accessed at the SEC’s Edgar system at www.sec.gov. Statements made herein are as of the date of this press release and should not be relied upon as of any subsequent date. SOELECT cautions readers not to place reliance on such statements. Unless otherwise required by applicable law, we do not undertake, and we specifically disclaim any obligation, to update any forward-looking statements to reflect occurrences, developments, unanticipated events or circumstances after the date of such statement.

About SOELECT INC.

Founded in 2018 and based in Greensboro, North Carolina, SOELECT has raised over $13 million from investors including Lotte Ventures, an affiliate of Lotte Chemical Company, General Motors Ventures, AMB Investments, VentureSouth and Woori Venture Partners. The SOELECT is at the forefront of revolutionizing the global lithium-ion battery industry with its innovative, sustainable technologies, high-performance materials, and efficient production methods. Through advanced R&D capabilities, proprietary technology, and strategic partnerships, SOELECT has established itself as a leader in the electric vehicle and energy storage systems battery industry, driving a cleaner energy future.

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