DALLAS, Nov. 14,
2024 /CNW/ -- Solidion Technology, Inc. (NASDAQ:
STI), an advanced battery materials provider, today announced a
major step forward in its corporate treasury strategy by allocating
a significant portion of its excess cash reserves to
Bitcoin. This move, alongside the broader
pro-Bitcoin environment influenced by the recent
election of a pro-crypto administration, solidifies
the company's long-term belief in Bitcoin's role as a
store of value and a strategic asset. Solidion's core business
continues to be developing and commercializing high-capacity
silicon anode materials, featuring non-silane gas based and
graphene-enhanced versions for automakers and other energy storage
applications, along with leveraging other advanced battery
technology in our unmatched 550+ patent portfolio.
Key Aspects of the Bitcoin Allocation
Strategy
- 60% of Excess Cash Allocated to Bitcoin:
Solidion will commit 60% of any excess cash from operations to
Bitcoin purchases.
- Interest Earnings Conversion to Bitcoin:
Solidion will convert interest earnings on cash held in money
market accounts to Bitcoin.
- Commitment of Future Capital Raises to Acquire Additional
Bitcoin: Solidion will designate a percentage of
funds to Bitcoin acquisitions to be held for the
long-term.
The allocation reflects a strong commitment to enhancing
shareholder value by leveraging Bitcoin's potential as
a hedge against inflation and as a valuable component of a
diversified treasury.
Capitalizing on Recent Pro-Bitcoin
Momentum
The recent election results have brought significant attention
to Bitcoin, with a new administration known for its
pro-Bitcoin stance and support for a Strategic
Bitcoin Reserve. The potential for favorable
regulatory frameworks and increased institutional adoption,
highlighted by the recent wave of Bitcoin ETFs,
underscores Bitcoin's value proposition and makes it
an ideal asset for corporate treasuries seeking inflation-resistant
stores of value.
Bitcoin as a Strategic Treasury Asset
Bitcoin, often called "digital gold," has grown
exponentially over the past decade, evolving through power law
dynamics into a globally recognized store of value and inflation
hedge. Institutional investors, global wealth managers,
corporations and private individuals continue to adapt the
technology in high volumes given the scarce, digital,
decentralized, transparent and global liquidity
characteristics, unmatched by any other asset.
CFO Statement
"We believe strongly in Bitcoin's transformative
potential for the financial system, and we see our allocation as
both a secure store of value and compelling investment," said
Vlad Prantsevich, CFO of Solidion
Technology. "With the Security and Exchange Commission's recent
approval of Bitcoin ETFs, we've already seen
significant steps toward institutional acceptance. Additionally, we
anticipate Bitcoin's next evolution will be widespread
adoption as a reserve asset by both sovereign nations and
corporations, creating substantial value and long-term upside
potential for Bitcoin as it gains further global
acceptance. We've made our first purchase and are excited to
continue stacking Bitcoin in line with our policy
parameters, with plans to evolve our strategy as we move
forward."
For more information, please visit www.solidiontech.com or
contact Investor Relations.
About Solidion Technology
Headquartered in Dallas, Texas
with pilot production facilities in Dayton, Ohio, Solidion's (NASDAQ: STI) 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. Solidion holds a
portfolio of over 550 patents, covering innovations such as
high-capacity, non-silane gas and graphene-enabled silicon anodes,
biomass-based graphite, advanced lithium-sulfur and lithium-metal
technologies.
Cautionary Note Regarding 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 undertake no
obligation to publicly update any forward-looking statements,
whether as a result of new information, future developments or
otherwise, except as may be required by law.
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SOURCE Solidion Technology, Inc.
