PolyPlus Battery Company a privately-held company focused on the development of the first rechargeable Li metal battery with a ionically conductive glass separator, has entered into the first stage of a joint development agreement with SK Innovation Co. Ltd., Korea’s first and largest energy and chemical company.
SK selected PolyPlus as partner for its “global consortium.” The collaboration is focused on PolyPlus’ solid-state lithium anode laminate that has the potential to double the energy density and cycle life of rechargeable batteries.
The initial goal is to produce and to test prototype cells to demonstrate increased volumetric and gravimetric energy density and cycle life relative to existing Li-ion cells.
SK brings extensive knowledge and capabilities around manufacturing and commercializing batteries for electric automobiles. SK has built an efficient battery production infrastructure through continuous investment and partnerships with major global automakers.
SK is providing development funding and is receiving an option to make a significant investment in PolyPlus equity at a capped price per share and an option to negotiate a license to PolyPlus technology in the field of electric automobiles. Other terms of the agreement were not disclosed.
PolyPlus Battery Company is headquartered in Berkeley, CA, and invented and patented the protected lithium electrode (PLE)—a core technology for lithium-sulfur, lithium-air, and lithium water batteries.
PolyPlus scientists developed a proprietary process to bond Li metal to a continuous monolithic glass electrolyte. Laboratory cells validate predictions—continuous monolithic glass prevents dendrites and promotes efficient cycling of lithium metal.