Critical Resources Ltd (ASX:CRR, FRA:9S70) earlier this week outlined progress in its battery technology strategy after confirming acceptance as an industry member of the US Centre for Solid-State Electric Power Storage (CEPS), a National Science Foundation-backed Industry–University Cooperative Research Centre.
Managing Director Tim Wither said the CEPS membership marked an important step for the company as it advances its solid state battery ambitions. He explained that CEPS brings together leading US universities and allows selected industry participants to access research teams, facilities and expertise within the National Science Foundation ecosystem.
Interview highlights
- Critical Resources has been accepted as an industry member of CEPS
- CEPS is backed by the US National Science Foundation
- Membership provides access to leading US universities and research facilities
- The company holds an option over solid state battery IP from South Dakota School of Mines
- Solid state batteries remove flammable liquid electrolytes
- Higher energy density offers improved energy storage performance
- CEPS includes major industry participants such as Mercedes, Honda and Nissan
- Research focus includes high-temperature and room-temperature electrolytes
- Strategy links Mavis Lake Lithium Project to downstream battery technology
- Lower research overheads improve capital efficiency for shareholders
Proactive: Welcome back to Proactive Investors. I’m your host, Kerry Stevenson. I’ve asked Tim Wither to come back. A couple of weeks ago, I was speaking to Tim about the Mavis Lake Lithium Project. Today we’re going to talk about Critical Resources being accepted as an industry member of the US Centre for Solid-State Electric Power Storage, known as CEPS. Tim, welcome back. Why is this important to Critical Resources?
Tim Wither: Morning, Kerry. CEPS was a really important step for us. Late last year, we secured an option over some solid state battery technology from the South Dakota School of Mines in the US. CEPS is backed by the American National Science Foundation and is a collective of universities that allows industry participation. This gives us access to research teams and world-class facilities across leading US universities at a lower cost.
Proactive: How difficult is it to become an industry member?
Tim Wither: It has to be accepted by all the universities involved. One advantage is that South Dakota is a member, and we have IP linked to the School of Mines, giving us an inside running.
Proactive: Can you explain solid state battery technology and why it matters?
Tim Wither: Strategically, we’re linking our Mavis Lake Lithium Project with the end use of solid state batteries. Current lithium-ion batteries use liquid electrolytes, which are flammable. Solid state removes that flammable component. It also has higher energy density, so it stores more energy. These batteries are the next evolution in battery technology.
Proactive: Why should shareholders take notice?
Tim Wither: There are very few ASX-listed companies focused on pure solid state electrolytes. CEPS is a low-cost entry point that reduces overheads and puts more money into research. We’re working with leading US researchers and aiming to develop and validate prototypes, which is an exciting pathway for shareholders.