Solidion Technology and Giga Solar Forge Strategic Partnership to Advance Battery Material Manufacturing in the U.S.
DALLAS, Nov. 25, 2024 /PRNewswire/ — Solidion Technology, Inc. (NASDAQ: STI), a provider of advanced battery materials, announced a strategic Memorandum of Understanding (MOU) with Giga Solar Materials Corp., a materials manufacturer based in Taiwan. This collaboration is designed to expedite the production of innovative Silicon Oxide (SiOx) anode materials within the United States and secure a strong lithium battery materials supply chain in North America.
Leveraging Solidion’s extensive portfolio of over 550 patents and its robust research and development capabilities, the partnership with Giga Solar, in addition to the previously announced collaboration with Bluestar Materials Company, will focus on a comprehensive solution for high-quality SiOx anode materials. Notably, Foxconn, the global electronics manufacturer contracted by Apple and other major tech companies, previously invested $36 million through its subsidiary, Giga Storage Corp, in an EV partnership with Giga Solar.
Silicon and Silicon Oxide are gaining traction as the preferred solutions for battery technology over solid-state options. These advanced materials provide a fivefold increase in specific capacity when compared to conventional graphite anodes, all while maintaining the necessary safety and stability. This represents a vital advancement in improving the energy density and overall performance of lithium-ion batteries. Such advancements are crucial for extending the longevity and range of electric vehicles (EVs), representing one of the key objectives facing the industry.
The MOU will also facilitate exploration by Solidion and Giga Solar—which already have a production capacity of approximately 100 Metric Tons per Annum (MTPA) in Taiwan—into U.S.-based manufacturing opportunities and market strategies to commercialize advanced SiOx solutions. With the escalating demand for EVs and energy storage systems, Silicon Oxide is becoming the material of choice for anodes, presenting significant advantages over conventional battery technologies.
“This agreement underscores Solidion’s dedication to innovation in the energy storage sector. By partnering with Giga Solar, we are accelerating the introduction of advanced silicon-based solutions that not only enhance battery performance but also strengthen our capabilities to meet the rising market demand,” stated Jaymes Winters, CEO of Solidion Technology, Inc. “This partnership is a testament to our commitment to battery solutions that are efficient, durable, and sustainable.”
Solidion’s partnership with Giga Solar is anticipated to offer significant benefits, including:
- The industrialization of an optimized production process for SiOx anodes.
- Potential to reduce production costs through innovation and partnership.
- Building a resilient supply chain for SiOx materials within the U.S. market.
- Enhanced opportunities to capture market share in the growing EV and energy storage sectors.
For further information, please visit www.solidiontech.com or contact Investor Relations.
About Solidion Technology
Headquartered in Dallas, Texas, with pilot production facilities in Dayton, Ohio, Solidion’s (NASDAQ: STI) core business includes the manufacturing of battery materials and components. It is also involved in the development and production of next-generation batteries for energy storage systems, as well as electric vehicles used in ground, air and sea transportation. Solidion’s intellectual property portfolio holds over 550 patents covering innovations like high-capacity, non-silane gas and graphene-enabled silicon anodes, biomass-based graphite, plus advanced lithium-sulfur and lithium-metal technologies.
About Giga Solar Materials Corp.
Based in Hsinchu, Taiwan, with production facilities in Taiwan and China, Giga Solar (3691.TWO) is primarily engaged in manufacturing conductive paste for PV cells and electronic components. As one of the top three conductive paste manufacturers, Giga Solar is also dedicated to developing and producing next-generation materials for battery applications.
About Bluestar Materials Company
Bluestar Materials Inc. is a company focused on materials and process design founded by Professor Chung-Wen Lan at National Taiwan University (NTU). It specializes in developing production technologies for next-generation battery materials. The company has successfully implemented the first silicon monoxide (SiO) production facility which is currently utilized by Giga Solar. Innovative and cost-effective technology for amorphous silicon is also under development.
Forward-Looking Statements
This earnings release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These statements are based on the current beliefs and expectations of Solidion’s management and are subject to significant risks and uncertainties. Actual results may differ from those set forth in the forward-looking statements. Factors that could cause Solidion’s actual results to differ materially from those described in the forward-looking statements can be found in Solidion’s Annual Report on Form 10-K for the year ended December 31, 2023 and Quarterly Report on Form 10-Q for the quarterly period ended September 30, 2024, which have been filed with the Securities and Exchange Commission and are available on Solidion’s website, and on the Securities and Exchange Commission’s website (www.sec.gov). Solidion does not undertake to update any forward-looking statements.
