Anteo Diagnostics teams up with global battery materials supplier

Lithium-ion battery technology developer Anteo Diagnostics (ASX: ADO) has teamed up with a European-based battery material supplier to advance its nano-coating technology in lithium-ion batteries.

Anteo Diagnostics has created a nano-coating called AnteoCoat for silicon giving it qualities required for incorporation in the lithium-ion anode – potentially replacing graphite which is currently used.

Silicon can store up to 10 times more energy than graphite, but is currently unusable in the battery because it expands and contracts while charging, which can shorten the battery’s life.

When Anteo Diagnostics AnteoCoat is applied to silicon, it stabilises the material during charging and discharging and avoids battery degradation.

A materials transfer agreement was executed between Anteo Diagnostics and an undisclosed battery materials supplier.

The agreement enables Anteo Diagnostics and the battery materials supplier to collaborate and combine their proprietary products.

Under the agreement, the duo will assess and hone the performance of the AnteoCoat product in lithium-ion batteries.

Additionally, the AnteoCoat technology will be combined with the collaborators’ proprietary materials to demonstrate improvement in material processing and electrochemical performance when the products are together in a lithium-ion battery anode.

According to Anteo Diagnostics, the results will remain confidential and the agreement paves the way for the parties to expand the collaboration.

“This second materials transfer agreement with a global lithium-ion battery participant is a significant further endorsement of the potential of AnteoCoat,” Anteo Diagnostics chief executive officer Christopher Parker said.

“The ability to test our product on existing battery materials in the supply chain with the co-operation of suppliers is important to ensure our product can more quickly be assessed commercially.”

“We now have multiple opportunities to progress our journey towards delivering improvements in energy density to the lithium-ion battery sector,” Mr Parker added.

Anteo Diagnostics secured its first materials transfer agreement in August with an Asia-based battery materials and component manufacturer.

In this agreement, both parties are also collaborating on progressing the AnteCoat technology.

In addition to AnteoCoat, the company has developed AnteoBind and AnteoRelease for other markets.

Chairman buys shares on market

Earlier this month, Anteo Diagnostics’ non-executive chairman Dr John (Jack) Hamilton’s superannuation fund vehicle bought up 1 million ordinary shares on-market.

The transaction was worth $15,000 at $0.015 per share.

This morning’s news of another material transfer agreement spurred Anteo Diagnostics’ share price up more than 70% to peak at $0.024 before settling at $0.019 in early afternoon trade – up more than 35%.