AquaLith Advanced Materials Licenses Lithium-Ion Battery Technology Developed at University of Maryland
AquaLith Advanced Materials has exclusively licensed a portfolio of lithium-ion battery patents from the University of Maryland, College Park (UMD). The technology, which was awarded the UMD's Invention of the Year Award, is based on the work of Prof. Chunsheng Wang, the Robert Franklin and Frances Riggs Wright Distinguished Chair in the A. James Clark School of Engineering at UMD, in collaboration with Kang Xu, the ARL Fellow at the U.S. Army Research Laboratory.
The technology utilized in these batteries allows for the storage of significantly more energy and offers lower production costs since they are formulated without transition metals. The highly concentrated aqueous electrolytes have been demonstrated to work at temperatures below -50C, which enables outdoor applications at the north and south poles. Additionally, the water-based electrolyte dramatically reduces the risk of fire in the event of a short circuit. The technology includes a new ultra-high energy cathode, a novel silicon anode and an aqueous electrolyte.
AquaLith’s development team is working out of space at UMD in College Park while the company builds its headquarters and factory at a site, yet to be announced, along the I95 corridor between Riverdale and Baltimore, Maryland.
“I am delighted to be working with Ted Olsen and Greg Cooper as a co-founder of AquaLith Advanced Materials, Inc.,” said Prof. Wang. “Greg and Ted are successful entrepreneurs who have years of experience building technology companies. The battery inventions developed in my lab will help enable renewable energy for consumer electronics and transportation. Commercialization of these products will have a profound positive impact on the performance of batteries over the next few years.”
“We believe Dr. Wang has created breakthrough technology that has the opportunity to significantly reduce the cost and dramatically improve the performance of rechargeable lithium-ion batteries,” said Ted Olsen, the company’s Chief Executive Officer. “Our plan is to grow the company and create high technology, renewable energy jobs in the state of Maryland.”
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April 22, 2021