Jaguar8 commented on a stock · Nov 25, 2024 19:03

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Solidion Technology Partners with Taiwan based Giga Solar to develop U.S. battery market

Partnership with Foxconn backed Giga Solar will accelerate U.S. manufacturing and commercialization
DALLAS, Nov. 25, 2024 /PRNewswire/ -- Solidion Technology, Inc. (NASDAQ: STI), an advanced battery materials provider is excited to announce the signing of a strategic Memorandum of Understanding (MOU) with Giga Solar Materials Corp., materials manufacturer out of Taiwan.

The partnership represents a significant step forward in accelerating the production of innovative Silicon Oxide (SiOx) anode materials in the United Statesand playing a leading role in securing a robust lithium battery materials supply chain in North America.

Leveraging Solidion's 550+ patent portfolio and advanced R&D capabilities, the collaboration with Giga Solar, and the previously announced partnership with Bluestar Materials Company, will focus on a total solution of high-quality SiOx anode materials. Foxconn, the global electronics manufacturer contracted by Apple among many others, previously invested $36 million through Giga Storage Corp, a subsidiary in an EV partnership with Giga Solar. Silicon and Silicon Oxide are now viewed by many as a more favored solution for battery technology over solid-state technology.

These advanced materials offer a fivefold increase in specific capacity compared to traditional graphite anodes, while maintaining safety and stability, a critical step forward for improving the energy density and performance of lithium-ion batteries. Enhanced anode technology like this is vital to extending the durability and range of electric vehicles (EVs), addressing one of the most significant challenges in the EV industry.

The MOU also positions Solidion and Giga Solar, who already have approximately 100 Metric Tons per Annum (MTPA) capacity in Taiwan, to explore U.S. based manufacturing opportunities and market strategies for commercializing advanced SiOx solutions. With the growing demand for EVs and energy storage systems, Silicon Oxide is emerging as a preferred anode material, offering significant advantages over conventional battery technologies.

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