Altair International Corp. Achieves Milestone Progress in Lithium Battery Development
PITTSBURGH, Pa., June 10, 2021 (GLOBE NEWSWIRE) -- Altair International Corp. (“Altair” or the “Company”) (OTCQB: ATAO) is pleased to announce that its wholly owned subsidiary, EV Lithium Solutions, Inc. (“EVLS”), has made significant advances in its proprietary, solid-state graphene architecture lithium battery technology (our “Energy Storage Unit” or “ESU”). Development has progressed ahead of schedule and Altair has engaged Culhane Meadows PLLC (“Culhane”) to prosecute the patent applications with the USPTO. The staff of Culhane have extensive experience in the technology-specific patent process.
Lithium battery technology has seen only incremental improvements over the last decade. Our ESU represents a truly substantial improvement on the current technology and full battery platform being used in the most popular electric vehicles (“EV”) today, in every metric which is important to both OEM EV manufacturers and EV users: charging time, range per charge, total battery life, and safety. When the patent process is further along, we will be pleased to expand on the unique architecture and novel technology which is put to work in the ESU. As we continue to move towards development of full sized, to-scale EV batteries, the following notes and comparisons are the results of real-world lab testing of the prototype ESU units as applied to EV scale; to emphasize, we still consider this technology to be development-stage. Further development and testing will be required before it is able to be considered for implementation in publicly available applications.
Rapid Charging.
A typical, current EV battery can take well over 6 hours to charge as most EVs have a limitation on the maximum current that their battery can safely accept. The majority of EVs use AC charging Mode 1, Mode 2 or Mode 3, utilizing an onboard system which converts the AC to DC for charging the battery. The fastest EV charging mode is 4 which goes up to 350KW, which is not yet widely available.
A well-known EV company’s superchargers provide power at a max of 150KW, and depending on certain variables, can charge an 85kWh battery to 100% in roughly 75 minutes. Our ESU, at EV scale, can accept the level of the current from a 150KW charger to charge the ESU from 0% to 100% in roughly 20 minutes or less. At 250KW, which will be provided in the “V3” supercharger network, the ESU can be fully charged (0% - 100%) in roughly 14 minutes. As in typical circumstances an EV battery level is rarely found at 0%, the real world charging time to 100% would be significantly reduced from these times, and require no new charging infrastructure.
Range.
A Tesla Model 3 has an EPA estimated range of 353 miles/charge (1). Our ESU, with all variables set as equal, would provide a minimal range of 430 miles, representing a significant increase and reduced cost/mile/charge. As ‘range anxiety’ is a central complaint of current and prospective EV owners, such a significant increase would almost certainly push more consumers into the EV space, with obvious benefit to OEM manufacturers utilizing our technology.
Total Battery Life.
Conventional batteries, such as those used in existing EVs today and those being produced and put into new EVs coming off of the production line, have an average lifespan of roughly 10,000 cycles (charges and discharges). Our ESU, at EV scale, has a lifespan of 60,000 cycles, or roughly 30 years - meaning a single unit will likely outlast the automobile it is powering. We consider this a stunning data point.
Safety.
Everyone has seen the pictures in the media of EVs catching fire in accidents, the same as lithium batteries in cell phones were grounding planes some years ago. This is a result of the conventional, and in our opinion, antiquated architecture and method of function/power production of conventional EV batteries. The thermal runaway process which results in these fires and incidents is impossible in the ESU given its unique fundamental architecture. What results is an EV battery which simply will not explode or catch fire in an accident. This remains true of the ESU at any scale.
(1)
About Altair International Corp.
Altair International Corp (OTC Markets: ATAO) is a diversified holding company whose strategy is to acquire and develop interests in a range of profitable ventures within the Energy and Minerals sector.
Forward-Looking Statements
This press release contains statements, which may constitute "forward-looking statements" within the meaning of the Securities Act of 1933 and the Securities Exchange Act of 1934, as amended by the Private Securities Litigation Reform Act of 1995. Those statements include statements regarding the intent, belief or current expectations of Altair International Corp., and members of its management as well as the assumptions on which such statements are based. Prospective investors are cautioned that any such forward-looking statements are not guarantees of future performance and involve risks and uncertainties, and that actual results may differ materially from those contemplated by such forward-looking statements. The Company undertakes no obligation to update or revise forward-looking statements to reflect changed assumptions, the occurrence of unanticipated events or changes to future operating results.
FOR FURTHER INFORMATION, please visit the company’s website at: altairinternationalcorp.com, or contact:
Investor Relations Contact:
Skyline Corporate Communications Group, LLC
Lisa Gray, Senior Account Manager
One Rockefeller Plaza, 11th Floor
New York, NY 10020
Office: (646) 893-5835
Email:
