Solidion Technology, Inc., a battery technology solution provider headquartered in Dallas, has developed a system that can charge lithium batteries in a matter of minutes.
The publicly traded company stated in an October 30 press release that its battery scientists “have successfully developed a cost-effective strategy for enabling completion of charging in five minutes for a wide range of lithium batteries.”
The advancement could mark a breakthrough in battery charging technology, one of the significant hurdles plaguing the growing electric vehicle industry.
“Range anxiety, the fear that an electric vehicle (EV) may run out of battery power during a trip, has long been regarded as a key reason for consumers’ reluctance to adopt EVs. This issue is exacerbated by the notion that recharging batteries usually takes much longer time than refueling internal combustion engine vehicles (ICEVs),” the press release continued.
Not only is the system reportedly fast, but Solidion claims it is not materially impacted by changing temperatures. Current solutions, for example, slow down in frigid temperatures, making EVs even less appealing in cold climate markets.
“To be competitive with ICEVs, fast charging of EVs should be weather-independent and comparable in time as refueling a gasoline car,” stated Solidion.
To solve the problem, the system uses a graphene-based heat spreader that quickly switches between heating when charging and cooling when discharging. Solidion hopes to fully commercialize the innovative technology in as little as two years.
Earlier this year, Honeycomb Battery Company, Solidion’s predecessor, and special purpose acquisition company Nubia Brand International Corp. closed their business combination, resulting in the formation of Solidion Technology, Inc., which began trading on the Nasdaq on February 5.
Solidion Technology trades under the ticker STI and holds 525 patents globally, including 355 in the United States. Since it began trading in public markets, STI has seen a steep drop in share price, losing over 90% of its value.
