Superlattice Power, Inc., (SLAT.OB), is closing in on the single biggest issue keeping the electric car off the road: the cost and efficiency of electrical power storage, otherwise known as batteries. Like Thomas Edison, relentlessly searching and testing until he’d produced a workable electric light bulb, Superlattice is intently focused on developing a lithium ion battery that will not only allow an all-electric vehicle to go up to 200 miles on a single charge, but be so affordable that it will induce drivers to forever switch from gasoline-powered vehicles to all-electric vehicles.
Prior to Superlattice, lithium-ion batteries were limited in storage capacity, took a long time to charge, and tended to age quickly. Superlattice, by developing and producing an advanced crystalline structured cathode material (referred to as “superlattice structure”), has significantly increased battery energy density, range, charge rate, and durability. And by incorporating special elements and transition metals, the company has now found a way to make these advanced materials affordable.
Superlattice (www.SuperLatticePower.com) is based in North Carolina, and works closely with Hybrid Tehchnologies, Inc., (HYBR.OB), a developer and marketer of electric vehicles and conversions. Hybrid Technolgies hopes to use Superlattice batteries to produce a compelling electric car, and is working with Superlattice to develop batteries for the X-Prize competition vehicle entry, sponsored by the X Prize Foundation and Progressive Insurance. The competition awards $10 million, and a lot of publicity, to the team that can design, build, and bring to market 100 MPGe (miles per gallon energy equivalent) vehicles that people want to buy, and that meet market needs for price, size, capability, safety, and performance.
SLAT.OB closed Thursday at $1.25, continuing a roller-coaster ride that has seen share price swing between $1.16 and $2.50 over the past 3 months.
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