Platinum Group Metals Ltd. (PLG) today reported patenting of a newly developed technology to its subsidiary firm developed through a sponsored agreement.
The U.S. Patent and Trademark Office have issued Patent No. 10,734,636 B2 entitled “Battery Cathodes for Improved Stability” to Florida International University (FIU). PLG’s subsidiary Lion Battery Technologies Inc. is in a sponsored research agreement with the university .The agreement provides Lion with exclusive rights to all technology being developed by the university including patents granted. The new patent includes use of carbon nanotubes, platinum group metals and other innovative elements in a lithium battery.
Last year, Platinum Group and Anglo American Platinum Limited came closer to jointly form battery technology company Lion Battery. Both companies were aiming developing next-generation battery technology by making use of palladium and platinum.
Lion funded research and patent application processes of FIU through its sponsored agreement to explore the potential of Lithium Air and Lithium Sulfur battery chemistries. The FIU conducted the research upon catalytic behavior of platinum and palladium in those battery chemistry types.
An MIT post doctoral researcher Dr. Bilal El-Zahib has led the research work with the assistance of a six member team. The team members were also the post doctoral fellows specializing in nano-materials and battery. The research commenced a bit longer than a year. In this short span of time the FIU team succeeded to surpass their first technical milestone. There have been some more patent applications filed seeking approvals.
The initial patent approval is the first key goal achieved by the research team, said R. Michael Jones, CEO of Platinum Group. This will help us to simultaneously achieve objectives of capitalizing real advanced innovations as well as fulfilling increasing demand of platinum group metals (PGMs). Those metals are most valued for their wide range of industrial, medical, and electronic applications.