Nanoexa and Decktron Will Jointly Collaborate With Argonne National Laboratory on Commercialization of Next Generation Battery Technologies
SOUTH SAN FRANCISCO, Calif., Sept. 27 -- Nanoexa, a leading nanotechnology-based clean energy company, and Decktron (KOSDAQ:053070), a lithium battery and display company, today jointly announced a definitive agreement to develop and transfer into commercial use new lithium battery technology originally developed at the U.S. Department of Energy's Argonne National Laboratory.
The goal of this agreement is to commercialize next generation rechargeable lithium battery technologies from Argonne's Battery Technology Department. Together, the organizations will introduce into the marketplace batteries with increased power output, storage capacity, safety and lifetime that will be utilized in high-rate applications such as hybrid/electric vehicles, power tools, and radio control devices.
"The recent news about laptop battery safety has exposed the limitations of current rechargeable battery technologies. One of the primary goals of Argonne's battery technology is to dramatically improve lithium battery safety," said Michael Pak, CEO of Nanoexa. "Argonne's R&D expertise in developing lithium battery materials as well as their deep relationships with the world's automotive makers will create a powerful opportunity for our company. We look forward to expanding our strategic relationship with Argonne even further."
"As part of the FreedomCAR Partnership between the U.S. Department of Energy (DOE) and U.S. automobile manufacturers, we at Argonne have been conducting research and development to help industrial battery developers lower cost and increase the lifetime and inherent safety of high-power lithium batteries" said Gary Henriksen, Manager of Argonne's Battery Technology Department. "These new Argonne-developed technologies could help lithium-ion batteries enter the automotive market. Also, we believe that some of these technologies could lead to improved (longer life and inherently safer) batteries for consumer electronic applications. We look forward to working with Nanoexa and Decktron to demonstrate our technologies in commercial cells and batteries."
Lithium batteries are the most popular rechargeable battery for consumer electronics such as mobile phones, digital cameras, camcorders, and laptop computers. As a result of their success in these applications, lithium batteries are now used in other applications such as electric vehicles, hybrid electric vehicles, power tools and specialty battery applications which typically rely upon less efficient NiCD (nickel cadmium) or NiMH (nickel metal hydride) technologies. Lithium batteries are 20-50% lighter than either NiCD or NiMH and can provide greater energy and power per unit of volume and weight.
Analysts predict that by 2010 automakers will annually sell more than 3 million hybrid cars around the world, generating battery sales of over $3 billion. Lithium batteries already represent a global market of $6 billion, growing at 10-15% per year.
Nanoexa is a nanotechnology-based clean energy company creating new applications that utilize nanotechnology and computational modeling innovation to dramatically improve material performance in clean energy products such as lithium batteries and solar cells. Nanoexa has assembled an extensive lithium battery intellectual property portfolio and has developed a computational modeling platform technology that offers a unique and powerful way to design and validate material design from the quantum level. In 2006, Nanoexa acquired a controlling interest in Decktron, a South Korea-based company offering highly efficient, environmentally sustainable battery technologies. Nanoexa is based in South San Francisco, California. For further information, visit www.nanoexa.com.
Decktron is an advanced technology and manufacturing company currently selling lithium batteries and flat panel displays, including LCD and PDP, generating global revenues of $100 million in 2005. Decktron's growth strategy is focused on delivering next generation lithium batteries that offer exceptional performance and safety levels. Decktron is publicly traded on the Korean Stock Exchange (KOSDAQ: 053070) and is headquartered in Seoul, South Korea. For further information, visit www.decktron.com.
About Argonne National Laboratory
The nation's first national laboratory, Argonne National Laboratory conducts basic and applied scientific research across a wide spectrum of disciplines, ranging from high-energy physics to climatology and biotechnology. Since 1990, Argonne has worked with more than 600 companies and numerous federal agencies and other organizations to help advance America's scientific leadership and prepare the nation for the future. Argonne is managed by the University of Chicago for the U.S. Department of Energy's Office of Science. For further information, visit www.anl.gov.