Strategic Elements Ltd (ASX:SOR) has confirmed the near-term development focus and schedule for Energy InkTM, a ‘revolutionary’ power source that generates electrical energy from moisture in the air.
Development remains focused on power management for skin patch devices and the investigation of potential R&D pathways for larger-scale energy ink systems. Results are expected to be available later this quarter.
The company’s priority segment is ‘power supply’ for skin patch devices, with the goal of making them more inconspicuous, providing more advanced sensing, keeping costs low, and being more eco-friendly.
Promisingly, the electronic skin patch market is currently worth US$10 billion and is expected to grow to US$27 billion by 2033.
Notably, the Energy Ink technology provides advantages such as flexibility, thinness, and the ability to print various cell sizes while using environmentally friendly materials.
Away from conventional batteries
A large and growing number of people worldwide use skin patch devices daily. For example, millions of people use glucose monitoring patches to reduce the frequency of daily finger prick blood glucose checks and better manage glucose levels.
However, the Australian Competition and Consumer Commission (ACCC) has expressed concerns about the button/coin cell batteries used in these devices, particularly for child safety.
In response, manufacturers and retailers have been ordered to comply with strict new Australian mandatory safety and information standards.
In part to address these environmental and safety concerns, Strategic Elements developed the Energy Ink battery for skin patch devices, which recently generated over 200% more power than required in a successful demonstration.
The company is now investigating a potential R&D pathway to develop larger-scale Energy Ink systems to broaden the potential scope of the Energy Ink power solution.
Funding
Currently, AAM has a multi-million dollar Energy Ink grant with the University of New South Wales under consideration from the federal government.
The company is currently raising a small amount of capital from shareholders that will primarily be used to apply for competitive federal government grants for Energy Ink, developed by 100% owned Australian Advanced Materials Pty Ltd (AAM).
Funds raised under the offer may also be used in part for AAM’s existing, active development program for improvements in power management for use in wearable devices and R&D pathways for larger-scale Energy InkTM systems.