PolyPlus and SK Enter into Joint Development Agreement for Glass-protected Lithium Metal Battery

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PolyPlus Battery Company announced that it is entering into the initial phase of a Joint Development Agreement with SK Innovation Co.

SK selected PolyPlus as its partner for its’ global consortium,’ following a extensive due diligence process. This partnership concentrates on PolyPlus’ solid state lithium anode laminate that can double the energy density and cycle life of rechargeable batteries. The initial objective is to manufacture and test prototype cells to demonstrate an increase in volumetric and gravimetric energy density and cycle life compared to current Li-ion cells.

SK offers comprehensive know-how and capacity in the production and marketing of electric car batteries. SK has built an efficient battery production infrastructure through continuous investment and partnerships with major global automakers.

SK supports development financing and receives an option for substantial PolyPlus equity investment at a capped share price and the option of negotiating PolyPlus Technology License in the field of electric cars. The Agreement did not disclose any other terms.

“This is a first step in what may be an important long term partnership”, said Steve Visco, PolyPlus CEO. “SK has been a pleasure to work with and provides complimentary capabilities to facilitate the commercialization of PolyPlus’ unique glass protected Li metal battery technology in the automotive field.”

Seongjun Lee, Head of Institute of Technology Innovation SK Innovation, said, “SK is optimistic about the prospects for this evolving collaboration. We are excited to play a significant role in developing PolyPlus’ potential breakthrough in battery technology, and working towards better solutions to global energy needs.”

About PolyPlus: Headquartered in Berkeley, CA, PolyPlus Battery Company is a world leader in the development of next-generation battery technology.
It invented and patented a core technology for lithium-sulfur, lithium-air, and lithium water batteries called protected lithium electrode (PLE). The glass-protected Li metal electrode by PolyPlus is a disruptive technology capable of meeting the huge demand for smaller lighter batteries. PolyPlus has a world-class scientific and ingenieure team and an extensive intellectual property pool of over 135 issued and 40 patents pending.