Partnership with Foxconn backed Giga Solar will accelerate U.S. manufacturing
and commercialization
DALLAS, Nov. 25,
2024 /PRNewswire/ -- Solidion Technology, Inc.
(NASDAQ: STI), an advanced battery materials provider is excited to
announce the signing of a strategic Memorandum of Understanding
(MOU) with Giga Solar Materials Corp., materials
manufacturer out of Taiwan. The
partnership represents a significant step forward in accelerating
the production of innovative Silicon Oxide (SiOx) anode materials
in the United States and playing a
leading role in securing a robust lithium battery materials supply
chain in North America.
Leveraging Solidion's 550+ patent portfolio and advanced R&D
capabilities, the collaboration with Giga
Solar, and the previously announced partnership with
Bluestar Materials Company, will focus on a total solution
of high-quality SiOx anode materials. Foxconn, the global
electronics manufacturer contracted by Apple among many others,
previously invested $36 million
through Giga Storage Corp, a subsidiary in an EV partnership with
Giga Solar. Silicon and Silicon
Oxide are now viewed by many as a more favored solution for battery
technology over solid-state technology.
These advanced materials offer a fivefold increase in specific
capacity compared to traditional graphite anodes, while maintaining
safety and stability, a critical step forward for improving the
energy density and performance of lithium-ion batteries. Enhanced
anode technology like this is vital to extending the durability and
range of electric vehicles (EVs), addressing one of the most
significant challenges in the EV industry.
The MOU also positions Solidion and Giga
Solar, who already have approximately 100 Metric Tons per
Annum (MTPA) capacity in Taiwan,
to explore U.S. based manufacturing opportunities and market
strategies for commercializing advanced SiOx solutions. With the
growing demand for EVs and energy storage systems, Silicon Oxide is
emerging as a preferred anode material, offering significant
advantages over conventional battery technologies.
"The agreement highlights Solidion's commitment to driving
innovation in the energy storage sector. By collaborating with
Giga Solar, we are accelerating the
introduction of advanced silicon-based solutions that not only
enhance battery performance but also strengthen our ability to meet
the growing market demand," said Jaymes
Winters, CEO of Solidion Technology, Inc. "This partnership
is a testament to our dedication to delivering battery solutions
that prioritize efficiency, durability, and sustainability."
Solidion's partnership with Giga
Solar is expected to bring significant benefits,
including:
- The industrialization of an optimized production process for
SiOx anodes.
- The potential to reduce production costs through innovation and
collaboration.
- The establishment of a robust supply chain for SiOx materials
in the U.S. market.
- Enhanced opportunities to capture market share in the growing
EV and energy storage industries.
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.
About Giga Solar Materials Corp.
Headquartered in Hsinchu, Taiwan, with production facilities in both
Taiwan and China, Giga
Solar's (3691.TWO) core business includes the manufacturing
of conductive paste for PV cells and electronic components. Being
one of the top 3 conductive paste manufacturers, Giga Solar also focuses on the development and
production of next-generation materials for battery
applications.
About Bluestar Materials Company
Bluestar Materials Inc. is a materials and process design
company founded by Professor Chung-Wen
Lan at National Taiwan University (NTU), specializing in
developing production technologies for next-generation battery
materials. The company's first silicon monoxide (SiO) production
facility has been successfully implemented and is currently
utilized by Giga Solar.
Additionally, innovative and cost-effective technology for
amorphous silicon is under development.
Forward-Looking Statements
This earnings release contains forward-looking statements within
the meaning of the Private Securities Litigation Reform Act of
1995. These statements are based on the current beliefs and
expectations of Solidion's management and are subject to
significant risks and uncertainties. Actual results may differ from
those set forth in the forward-looking statements. Factors that
could cause Solidion's actual results to differ materially from
those described in the forward-looking statements can be found in
Solidion's Annual Report on Form 10-K for the year ended
December 31, 2023 and Quarterly
Report on Form 10-Q for the quarterly period ended September 30, 2024, which have been filed with
the Securities and Exchange Commission and are available on
Solidion's website, and on the Securities and Exchange Commission's
website (www.sec.gov). Solidion does not undertake to update any
forward-looking statements.
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SOURCE Solidion Technology, Inc.
