What a power surge emanating out of California!
BioSolar, Inc. (OTC:BSRC) has gotten cracking on production and testing of the first batch of commercial grade prototype lithium-ion cells for power tool application in the new 21700 cell format. It’s a format being adopted by numerous high-growth industries including power tools, consumer electronics and electric vehicles.
The Santa Clarita-based BioSolar is a developer of breakthrough energy storage technology and materials.
It says the 21700 cell format is believed to have the ability to increase battery density, thus positively impacting overall power.
It’s technology being adopted by automotive manufacturer Nikola and by Milwaukee Tool, the latter of which announced two new cordless tool battery packs, including a high output segment that carry 21700 cells, up from the previous format.
As CEO David Lee explains it, “We anticipate our performance boosting technology will show enough progress in these prototypes to transition BioSolar from a technology development company into one with commercially viable technologies suitable for use in a number of high-growth industries.”
The surge made its presence felt in small-cap stock markets, which boosted BSRC in price 4.7% to 2.25 cents, on volume surpassing 385,000 shares.
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