alpha-En Corporation (ALPE.PK) (“alpha-En”) today
announced that it has entered into an agreement with MXL Leasing,
LP (“Leasing”), an entity affiliated with MXL Industries, Inc.,
under which Leasing agreed to take all necessary steps to prepare
for, and, subject to the terms of a definitive agreement, commence,
the commercial manufacture of lithium metal on behalf of alpha-En
under its exclusive, worldwide, perpetual license to use certain
proprietary, patent-pending technology to manufacture lithium metal
for use in batteries and other applications.
“This agreement with Leasing marks the next important phase in
our plan to commercialize the lithium metal manufacturing
technology we licensed in February 2009,” stated Jerry Feldman,
Chairman of alpha-En. “Our focus will be on producing, in a novel
and cost-effective manner, metallic lithium for, among other
applications, lithium metal batteries, pharmaceuticals, and
aerospace components, worldwide markets that have been estimated at
approximately $1.0 billion.”
Commencing in October 2010, alpha-En and Leasing conducted a
series of tests in a production environment to determine if lithium
metal could be consistently extracted from lithium carbonate
utilizing the process licensed by alpha-En. Following multiple
trials and sample analysis by an independent laboratory, alpha-En
believes the process and associated patent claims were validated in
February 2011.
The Opportunity
Lithium is the lightest of all metals, has a high energy
density, and is used in a variety of industrial applications,
including consumer electronics, chemical, pharmaceutical, and
nuclear. Until recently, research had stalled on the use of lithium
metal as a power source, primarily because of its instability in
the presence of air and water. Today, consumers are familiar with
lithium in the form of lithium ion batteries, which for decades
have been used as a source of safe, energy dense power for laptops,
cell phones, digital cameras, and digital music players, among
other items. The safety and stability of lithium ions, however,
come at a price when compared to metallic lithium. Lithium ions
have a lower energy density than lithium metal, with the capacity
to store just one-tenth of the energy of equivalent weight lithium
metal.
With the advent of more advanced electronic products, most
notably the recent introduction of battery- powered automobiles,
the development of lithium battery-driven propulsion in the form of
a lithium metal battery is generating an increasing level of
interest among scientists and corporations. The lithium metal
batteries reported to be under development would be lightweight,
powerful (capable of producing as much as 10x the energy of lithium
ion batteries), and rechargeable. By way of example, it is reported
that automobiles powered by lithium ion batteries can travel up to
40 miles on a charge; a lithium metal battery could potentially
extend that range to over 400 miles using a lighter, less expensive
power package.
Assuming that lithium metal battery technology is perfected, the
question for manufacturers, including automobile companies,
remains: “Can metallic lithium be produced cost-effectively and in
sufficient quantities to support the introduction of products –
like automobiles - powered by this technology?”
alpha-En’s Process
Based on results to date, including what alpha-En believes to be
the validation of the proof of process, alpha-En believes that its
licensed, proprietary technology offers a number of advantages over
lithium extraction techniques currently in use.
Traditionally, industrial production of lithium metal involves
the electrolysis of molten salts at temperatures of 400-600 Celsius
(752-1112 Fahrenheit). Maintaining these salts at high heat levels
adds meaningful production costs to the process.
A well-known process exists which allows for lithium production
at much lower temperatures, however that process requires large
amounts of mercury which creates an unacceptable environmental risk
profile. Other proposed low temperature processes also require the
use of halide salts of lithium which release hazardous byproducts,
such as chlorine gas, during lithium separation. Containment and
handling of these hazardous byproducts adds to the manufacturing
costs and increases the environmental risk profile.
The technology licensed by alpha-En allows for separation
temperatures of below 100 degrees Celsius, without the use of
mercury, and allows for the use of lithium carbonate as a primary
feed stock. The advantages are noteworthy:
- Lower process temperatures mean lower
manufacturing costs.
- Environmental risk is reduced by the
absence of toxic mercury.
- Lithium carbonate can be used as the
feed stock, reducing raw material and overall manufacturing costs,
and eliminating the hazardous byproducts typically produced when
processing halide salts of lithium.
- The metal alloy which holds the
separated lithium metal can be circulated for immediate extraction,
or solidified to protect and stabilize the lithium metal for later
extraction. This provides a previously unattainable degree of
manufacturing flexibility.
In closing, Mr. Feldman said, “We acknowledge that there are a
number of much larger and more established firms in the business of
manufacturing metallic lithium. Having said that, we believe that
the manufacture of lithium metal in a low temperature, flexible,
and environmentally friendly manner is possible using our licensed
technology. Over the coming months, we will continue to advance
towards product commercialization by further refining the process,
improving yields, and bringing in a seasoned management team. It is
early, and we have yet to produce any samples on a commercial
scale, but we are excited and optimistic about the opportunities
that lie ahead.”
Management
alpha-En is led by Jerry Feldman, who has served as Chairman of
the Board since 2008. In 1959, Mr. Feldman founded National Patent
Development Corporation (“NPD”), which was devoted to searching out
new inventions and assisting major corporations in licensing their
technologies. He served as Chairman and CEO of NPD from August 2004
until May 2007. Among the technologies Mr. Feldman helped introduce
were: soft contact lenses (1971 via Bausch & Lomb); surgical
staples (via U.S. Surgical, which NPD sold to Tyco for $3 billion
in 1998); and special glass to store nuclear waste (via Duratek,
which was later sold to the Carlyle Group).
Mr. Feldman was Chairman of Five Star Products, Inc., a paint
and hardware distributor, from 1994 until March 2007, and a
Director of Valera Pharmaceuticals, Inc., a specialty
pharmaceutical company, from January 2005 until April 2007. Mr.
Feldman is currently Chairman of GSE Systems, Inc. (NYSE Amex:
GVP), a leading global provider of real-time simulation and
training solutions to the power, process, manufacturing and
government sectors. He is also Chairman of the New England Colleges
Fund and a Trustee of Northern Westchester Hospital Foundation. He
is a minority owner of MXL Industries, Inc. and Leasing.
ABOUT MXL INDUSTRIES,
INC.
MXL Industries is a complete, turn key provider of optical
quality mold design, tooling, molding, and coating of polycarbonate
and acrylic parts. The company concentrates on meeting stringent
optical performance requirements for a broad spectrum of customers.
MXL Industries was founded in 1968 and is located in Lancaster, PA.
Learn more at www.mxl-industries.com.
ABOUT ALPHA-EN
CORPORATION
Utilizing an exclusive, worldwide, transferrable, perpetual
license granted in February 2009, alpha-En is focused on the
processing of lithium metal for use in batteries and other fields.
Based on the results of a series of tests conducted by MXL Leasing,
LP and an independent laboratory, alpha-En believes that this
licensed technology is commercially feasible, allowing for metallic
lithium to be manufactured more efficiently and more inexpensively
than current methods.
FORWARD LOOKING
STATEMENTS
This press release contains certain forward-looking statements,
including with regard to the Company’s future performance. Words
such as "estimated," "believes," "expects," "projects," “may,” and
"future" or similar expressions are intended to identify
forward-looking statements. Forward-looking statements inherently
involve risks and uncertainties, including without limitation,
those described in this press release and those detailed in our
filings with the Securities and Exchange Commission. We do not
undertake any obligation to publicly update or revise any
forward-looking statements, whether as a result of new information,
future events or otherwise, except as may be required under
applicable securities laws.
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