InvestorWire NewsRoom

Article

Platinum Group Metals Ltd. (NYSE American: PLG) (TSX: PTM) Subsidiary Positioned in Lithium-Sulfur Battery Space
September 24, 2024

Platinum Group Metals Ltd. (NYSE American: PLG) (TSX: PTM) Subsidiary Positioned in Lithium-Sulfur Battery Space

  • New battery technologies are being researched and developed to rival lithium-ion batteries in terms of efficiency, cost and sustainability.
  • Lithium-sulfur batteries could offer advantages over lithium-ion batteries, including increased range and storage capacity.
  • Companies working in this space include Lion Battery Technologies Inc. founded by Platinum Group Metals Ltd. and Anglo American Platinum Limited.

The battery of choice these days, relied on to power everything from digital devices to electric vehicles and even energy-storage systems, is the lithium-ion battery. However, lithium-ion technology has its drawbacks; consequently, other battery solutions are being developed, including lithium sulfur. Through its subsidiary Lion Battery, Platinum Group Metals (NYSE American: PLG) (TSX: PTM) is working to strengthen its foothold in the lithium-sulfur space.

“Most battery-powered devices, from smartphones and tablets to electric vehicles and energy storage systems, rely on lithium-ion battery technology,” reported a recent Built-In article (https://ibn.fm/qVVJL). “Because lithium-ion batteries are able to store a significant amount of energy in such a small package, charge quickly and last long, they became the battery of choice for new devices.

“But new battery technologies are being researched and developed to rival lithium-ion batteries in terms of efficiency, cost and sustainability,” the article continued. “While lithium-ion batteries have come a long way in the past few years, especially when it comes to extending the life of a smartphone on full charge or how far an electric car can travel on a single charge, they’re not without their problems. The biggest concerns — and major motivation for researchers and startups to focus on new battery technologies — are related to safety, specifically fire risk, and the sustainability of the materials used in the production of lithium-ion batteries, namely cobalt, nickel and magnesium.”

The article noted that many of these new battery technologies aren’t reinventing the wheel; rather, they’re exploring the potential of different materials when it comes to powering devices or storing energy. Such is the case with lithium-sulfur technology, which relies on sulfur for the battery’s cathode. Because sulfur is more sustainable than nickel and cobalt, which are often used in a battery anode with lithium metal, the possibilities are promising.

Lion Battery was jointly formed in 2019 by Platinum Group and Anglo American Platinum to accelerate the development of next-generation battery technology using platinum and palladium. Since inception the Lion team has focused on the development of proprietary lithium sulfur technology and enhancing the performance of existing commercial lithium-ion (“NMC”) chemistries. Lion has a sponsored research agreement with Florida International University (“FIU”) including exclusive rights to all intellectual property developed and will lead commercialization efforts. To date the U.S. Patent and Trademark Office has granted five patents related to research conducted by FIU on behalf of Lion.

“Lithium-sulfur batteries are believed to be more efficient than lithium-ion batteries, which could increase the range and storage capacity of electric vehicles,” Built-In reported. “Additionally, sulfur is affordable and abundant, which could mean lower costs. And since the manufacturing process for these batteries is like the one used for lithium-ion batteries, the same facilities could also be used for production. Advancements in lithium-sulfur batteries have also resulted in faster charging and made them useful for raising the storage capacity of renewable energy technologies.”

Lion Battery has engaged The Battery Innovation Center (“BIC”) in Newberry, Indiana, to help drive commercialization of its next generation platinum and palladium based battery chemistries. The BIC is completing independent small scale and large scale trials to validate Lion’s proprietary platinum and palladium based electrode composition, slurry and films in both lithium-sulfur and lithium-ion (“NMC811”) coin and pouch cells. Collaboration also includes additional research and development focused on improving performance and scale-up with the goal of creating prototypes for commercialization consideration in late 2024. Lion’s target is to develop batteries with specific energies that are 20% to 100% higher than current technologies while meeting or exceeding their present cycle lives.

For more information, visit the company’s website at www.PlatinumGroupMetals.net.

NOTE TO INVESTORS: The latest news and updates relating to PLG are available in the company’s newsroom at https://ibn.fm/PLG

About InvestorWire

InvestorWire (“IW”) is a specialized communications platform with a focus on advanced wire-grade press release syndication for private and public companies and the investment community. It is one of 60+ brands within the Dynamic Brand Portfolio @ IBN that delivers: (1) access to a vast network of wire solutions via InvestorWire to efficiently and effectively reach a myriad of target markets, demographics and diverse industries; (2) article and editorial syndication to 5,000+ outlets; (3) enhanced press release enhancement to ensure maximum impact; (4) social media distribution via IBN to millions of social media followers; and (5) a full array of tailored corporate communications solutions. With broad reach and a seasoned team of contributing journalists and writers, IW is uniquely positioned to best serve private and public companies that want to reach a wide audience of investors, influencers, consumers, journalists and the general public. By cutting through the overload of information in today’s market, IW brings its clients unparalleled recognition and brand awareness. IW is where breaking news, insightful content and actionable information converge.

For more information, please visit https://www.InvestorWire.com

Please see full terms of use and disclaimers on the InvestorWire website applicable to all content provided by IW, wherever published or re-published: https://www.InvestorWire.com/Disclaimer

InvestorWire
Los Angeles, CA
www.InvestorWire.com
310.299.1717 Office
[email protected]

InvestorWire is powered by IBN

Get Started with InvestorWire

To distribute a release in the next 24 hours. Contact our client services team.

(862) 930-1404

Distribute a press release. Submit your release to get started.

Submit Press Release

Set up a Live demonstration. Schedule a date and time that works for you.

Schedule a LIVE Demo

Press Distribution

Explore Press Distribution Solutions

All releases include an unlimited word count* with full wire-grade syndication, our press release enhancement service, and a follow-up InvestorNewsBreak article distributed to thousands of editorial syndication partners.

Discover Add-on Solutions

Increase the impact of your achievements by adding these exclusive solutions from InvestorWire, delivered in conjunction with the InvestorBrandNetwork (IBN).