Thinfilm Achieves Key Milestone in Solid-State Lithium Battery Development
Oslo, Norway, 15 June 2020 – Thin Film Electronics ASA ("Thinfilm"), a developer of ultrathin, flexible, and safe energy storage solutions for wearable devices and connected sensors, today announced the attainment of a critical milestone essential to the production of solid-state lithium battery (SSLB) products in the Company’s San Jose, California manufacturing facility. The Company can confirm that it has successfully completed the deposition of critical layers of its SSLB stack on Thinfilm steel substrates and initial electrical testing has met and exceeded internal expectations. This achievement reflects substantial development progress, on schedule, supporting the Company’s strategy to deliver premium energy storage with superior volumetric energy density.
Thinfilm SSLB devices are formed through the deposition of lithium-based layers that form the battery’s functional 'stack' and enable charging and discharging of the battery cell. Thinfilm’s unique manufacturing process forms these layers on an ultrathin stainless steel substrate that enables superior performance, robustness, and scalability compared to alternative manufacturing methods. Results from initial testing of the deposited battery stack have confirmed that Thinfilm’s process is already nearly achieving the maximum entitled energy densities for solid-state lithium batteries. This will enable the Company to deliver differentiated products with higher volumetric energy densities, surpassing existing competing products. Based on this success and despite the logistical and operational challenges introduced by the COVID-19 pandemic, Thinfilm’s technology development team is on track to demonstrate complete SSLB samples by the end of June.
Together with Thinfilm’s earlier announcement of multiple patent filings related to its SSLB technology, these achievements illustrate meaningful progress toward the Company’s commercialization of ultrathin, stackable milliamp-hour battery cells with the highest volumetric energy density in their class, enabling Thinfilm to minimize battery size and extend battery life for thinner, more comfortable wearable devices and connected sensors.
In addition to technical progress, the Company has actively engaged leading OEMs and potential partners to identify market opportunities for Thinfilm SSLB products. Market feedback indicates that superior volumetric energy density, extensive form factor options, higher charge/discharge cycling count, expanded low-temperature operating range, and improved safety can positively differentiate Thinfilm SSLB products from the coin cells and lithium-ion pouch cells currently used by existing products in target markets. Based on these discussions, the Company has identified meaningful opportunities in the wearables and remote patient monitoring market segments that can benefit from Thinfilm’s SSLB technology.
"Thinfilm’s technical team has delivered on an important milestone in the production of SSLB batteries using Thinfilm’s uniquely scalable, stainless steel manufacturing process," said Kevin Barber, CEO of Thinfilm. "By simultaneously innovating in core battery stack technology, cell manufacturing, and cell packaging and stacking, Thinfilm is focused on delivering premium battery products to enable the next wave of innovation in wearable devices and connected sensors."
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Thinfilm is Energizing Innovation™ with ultrathin, flexible, and safe energy storage solutions for wearable devices, connected sensors, and beyond. Thinfilm’s innovative solid-state lithium battery (SSLB) technology is uniquely positioned to enable the production of powerful, lightweight, and cost-effective rechargeable batteries for diverse applications. The company’s state-of-the-art flexible electronics manufacturing facility, located in the heart of Silicon Valley, combines patented process technology and materials innovation with the scale of roll-to-roll production methods to bring the advantages of SSLB technology to established and expanding markets.
Thin Film Electronics ASA is a publicly listed company in Norway with corporate headquarters in Oslo and global headquarters in San Jose, California.
Contact:
Kevin Barber – Chief Executive Officer
Email:
This information is subject to the disclosure requirements pursuant to section 5-12 of the Norwegian Securities Trading Act.
