Oslo, Norway, 10 July 2020 - Thin Film Electronics ASA (âThinfilmâ), a developer
of ultrathin, flexible, and safe energy storage solutions for wearable devices
and connected sensors, today announced attainment of a major milestone in the
âŠ
Vis bĂžrsmeldingen
development of its solid-state lithium battery (SSLB) technology: the successful
fabrication of functional batteries, on Thinfilmâs stainless steel substrates,
in its San Jose, California manufacturing facility. Initial characterization
testing has demonstrated expected energy densities, thereby enabling
differentiated product performance compared to alternatives. Following the
completion of this milestone, the Company announced plans to accelerate the
transfer of the remaining essential tool from its process technology development
partner to Thinfilmâs San Jose facility in order to speed development cycle
times and guard against potential delays related to the ongoing pandemic.
To successfully produce SSLBs on Thinfilm stainless steel substrates, Thinfilmâs
technical team integrated multiple proprietary manufacturing processes despite
processing delays at the partner location due to tightening operational
protocols associated with the COVID-19 pandemic. Electrical test results
indicate that the Company is on track to deliver differentiated batteries with
superior performance characteristics compared to competitors, including
rechargeable lithium-ion pouch and coin cells widely used in target markets.
Thinfilmâs proprietary, production-proven steel substrate technology is a
critical enabler for the scalable production of SSLB products with milliamp-
hour-class energy capacities. The favorable mechanical and thermal properties of
ultrathin steel - together with Thinfilmâs proprietary encapsulation technology
- enable the production of larger batteries with superior volumetric energy
densities compared to alternatives. Furthermore, the mechanical flexibility of
steel enables Thinfilmâs highly scalable, roll-based production process that
cannot be replicated by competitors dependent on rigid silicon substrates.
In support of the Companyâs next phase of technology development, the Company is
accelerating existing plans to transfer ownership of remaining process
equipment, responsible for a key manufacturing step, to control development of
proprietary intellectual property and increase flexibility in the scheduling and
operation of the complete equipment set. Furthermore, Thinfilmâs technical team
has been augmented by recent key hires in battery technology, process
integration, packaging, and equipment engineering.
Following this milestone, Thinfilmâs development priorities now shift to the
delivery of customer evaluation samples to a range of prospects and partners in
the wearable device and connected sensor markets, in order for them to validate
key performance characteristics of Thinfilm SSLB technology.
Based on positive engagements with leading manufacturers of wearable devices and
connected sensors, the Company has expanded its potential market to include
applications with forecasted annual volumes totaling more than one billion units
by 2025. As Thinfilm has continued to validate applications for its
differentiated microbattery products, the Company has identified specific market
demand in medical wearables and hearables applications for improved energy
density and extended cycling. Discussions with leading OEMs have validated
demand for the advantages of Thinfilm SSLB technology by emphasizing a desire
for smaller batteries, higher energy densities, customized form factors, and
longer lifetimes compared to competing rechargeable options. Furthermore, to
streamline the integration of Thinfilm SSLBs in next-generation applications
within existing markets, the Company plans to partner with leading providers of
wireless charging and energy harvesting technology to leverage the superior
cycling performance of Thinfilm products.
âWe are pleased to deliver on another important milestone by producing our first
complete solid-state lithium batteries on stainless steel substrates,â said
Kevin Barber, CEO of Thinfilm. âWith more than one billion units of market
opportunity in targeted segments, Thinfilm looks forward to delivering premium
microbattery products that minimize battery size and extend battery life for
thinner, more comfortable wearable devices and connected sensors.â
Thinfilm is Energizing Innovationâą with ultrathin, flexible, and safe energy
storage solutions for wearable devices, connected sensors, and beyond.
Thinfilmâs innovative solid-state lithium battery (SSLB) technology is uniquely
positioned to enable the production of powerful, lightweight, and cost-effective
rechargeable batteries for diverse applications. The companyâs state-of-the-art
flexible electronics manufacturing facility, located in the heart of Silicon
Valley, combines patented process technology and materials innovation with the
scale of roll-to-roll production methods to bring the advantages of SSLB
technology to established and expanding markets.
Thin Film Electronics ASA is a publicly listed company in Norway with corporate
headquarters in Oslo and global headquarters in San Jose, California.
Contact:
Kevin Barber - Chief Executive Officer
Email: kevin.barber@thinfilmsystems.com
This information is subject to the disclosure requirements pursuant to section
5-12 of the Norwegian Securities Trading Act.
Kilde