Strategic collaboration with multinational component company and AGM Batteries
An American power component company is investing about $50 000 in collaboration with Insplorion and the British battery cell manufacturer AGM Batteries. The aim is to develop a battery cell with commercial manufacturing potential where Insplorion’s battery sensor is integrated. This is the first time Insplorion’s sensor will be integrated into a commercial manufacturing process. The cell and the results of the development project will be used in the continued contact with major battery manufacturers.
The multinational power component company which is listed at NASDAQ has manufacturing locations in more than 10 countries and a turnover of several hundred millions USD. They have customers within battery and car manufacturing, such as Samsung, LG, Ford and Autoliv. They have asked not be disclosed at this stage for competitiveness reasons.
AGM Batteries Ltd is a UK-based battery cell manufacturer which was established in 1997 to produce lithium colbalt oxide and lithium manganese oxide cylindrical cells for specialist markets. It now works with clients and partners to scale new battery cell technologies through to manufacture using its 4000sq metre plant. In addition to developing propriety and client specific cell and battery products it undertakes collaborative research such as the £5.4M Advanced Propulsion Centre funded project to integrate smart cell BMS technologies into battery packs for high performance automotive HEV applications.
The project is expected to take 6-9 months and will focus on integrating the Insplorions fiber-based battery sensor in AGMs battery cells. With a sensor in the battery, the charging and discharging processes can be better monitored and more closely measure the battery's momentary status compared with today's blunt methods which only measure voltage and temperature.
"This initial cooperation project is of strategic importance for Insplorion. For large-scale sales of our battery sensor, we have always expected that we will need to cooperate with major OEM manufacturers who already have the possibility of large-scale manufacturing and are established as a supplier to the battery and automotive industries. This multinational component company is the type of player that can help us to reach a wide audience with our battery sensor. In addition, AGM Batteries Ltd is an excellent partner in this stage, since they are used to innovative projects, "says Patrik Dahlqvist, CEO of Insplorion.
“We envisage that the Insplorion technology can be viably integrated into cells and will provide invaluable data to optimise performance in the rapidly expanding Automotive and Energy Storage markets, which will outstrip the current Li ion volumes driven by the consumer electronics and telecommunication industries” says Steven Farmer, Chief Operating Officer of AGM Batteries Ltd.
Questions are answered by:
Patrik Dahlqvist, CEO of Insplorion AB, +46 723 62 32 61 or firstname.lastname@example.org