Amionx, a leader in safe battery technology, and Qualcomm Incorporated, a leading technology invention company, today announced Qualcomm’s strategic investment in Amionx. As part of its investment, Qualcomm President Derek Aberle will join the board of directors of Amionx.
Amionx has pioneered and patented a transformative technology called Safe CoreÔ that acts like a circuit-breaker to prevent lithium-ion batteries from being the source of a fire or explosion. Lithium-ion is one of the most successful battery chemistries ever introduced with billions of cells being produced every year, with estimated annual revenue at well over $35 billion. Additionally, rapid growth is forecasted in coming years as lithium-ion batteries become even more pervasive in many applications, including consumer electronics, electric vehicles and energy storage. However, as volumes grow and companies push the boundaries of lithium-ion battery technology, there have been an increasing number of battery fires and explosions which, in some cases, have resulted in billions of dollars of damages. While manufacturers use various techniques to improve safety, these existing techniques often reduce performance and/or increase cost and do not guarantee safety from overcharge, internal short or certain high temperature environments. Amionx Safe Core can prevent batteries from becoming the source of costly damages resulting from these issues.
Amionx Safe Core is focused on safety from the core of the battery outward and works even when other safety measures fail or are not activated. Safe Core is applicable to other chemistries, as well as solid state. The implementation of Safe Core into existing battery manufacturing factories requires no additional capital cost and adds at most minimal cost to the bill of materials for the battery. Amionx is in the process of licensing its patented Safe Core technology for use in lithium-ion batteries globally.
Amionx is a spinout from American Lithium Energy (ALE). ALE was originally founded in 2006 by Dr. Jiang Fan and Dr. Robert Spotnitz who are both widely recognized as foremost experts in battery technology. ALE has been designing, manufacturing and supplying batteries to the Department of Defense for more than ten years. ALE's batteries are designed for use in the most demanding military and commercial applications where energy, power and safety are critical.
"As the use of lithium-ion batteries continues to be more pervasive, we will undoubtedly see more incidents of battery fires and explosions; something which Safe Core can prevent,” said Jenna King, chief executive officer, Amionx. “We are delighted by the commitment Qualcomm is demonstrating through its strategic investment in Amionx and we welcome Derek to the board. Given the success and experience Qualcomm has as a technology pioneer and licensor, we look forward to leveraging their expertise as we share this transformative safety technology with the industry through our licensing program.”
“As an industry leading wireless systems invention company, Qualcomm has the foresight in recognizing and developing breakthrough technologies that will fundamentally transform people’s lives.” said Derek Aberle, president, Qualcomm Incorporated. “We are excited about the potential for Amionx Safe Core to deliver significant value to suppliers and consumers of lithium-ion batteries across multiple industries. The fact that Safe Core can be implemented easily into the existing battery manufacturing process and at such low cost will help drive widespread and rapid adoption. Additionally, we believe Safe Core can open new product opportunities for lithium-ion batteries where safety concerns have limited their use to date.”
Qualcomm's technologies powered the smartphone revolution and connected billions of people. We pioneered 3G and 4G and now we are leading the way to 5G and a new era of intelligent, connected devices. Our products are revolutionizing industries, including automotive, computing, IoT, healthcare and data center, and are allowing millions of devices to connect with each other in ways never before imagined. Qualcomm Incorporated includes our licensing business, QTL, and the vast majority of our patent portfolio. Qualcomm Technologies, Inc., a subsidiary of Qualcomm Incorporated (qualcomm.com), operates, along with its subsidiaries, all of our engineering, research and development functions, and all of our products and services businesses, including, our QCT se)miconductor business.
About Amionx, Inc.
Amionx (amionx.com) is a leader in safe battery technology with headquarters in Carlsbad, CA. Our patented and proprietary Safe Core™ technology prevents batteries from being the source of explosion or fire without sacrificing the performance of the battery. This technology is transforming the current use of lithium-ion batteries and opening new market opportunities where lithium batteries have been excluded primarily due to safety concerns. More information can be found on the Amionx website at amionx.com.
Qualcomm is a trademark of Qualcomm Incorporated, registered in the United States and other countries.
John Sinnott - Investor Relations
P: +1 858-658-4813 - E: ir[.]qualcomm.com.
Bill Davidson - Amionx Advisor
P: +1 888-473-8500 - E: info[.]amionx.com.