Lion Battery Technologies, a subsidiary of platinum-group metals (PGM) miners Platinum Group Metals and Anglo American Platinum, has been issued a US patent for its next-generation battery technology using platinum and palladium.
The patent covers the use of PGMs and carbon nanotubes, as well as other innovations in a lithium battery.
Titled “Battery Cathodes for Improved Stability”, the patent was issued to Florida International University, which has signed a “sponsored agreement” with Lion Battery Technologies covering research and patent applications.
In July last year, Anglo American Platinum and Platinum Group Metals launched a joint venture (JV) to develop next-generation battery technology.
The JV is working with Florida International University researcher Dr. Bilal El-Zahab on developing a battery solution using PGMs to improve lithium oxygen (Li–O2) and lithium sulphur (Li-S) batteries.
Platinum Group Metals noted that the team at Florida International University has completed the first year of research and passed their first “technical milestone”.
Platinum Group Metals CEO Michael Jones said: “The initial patent grant is the first significant milestone towards our objectives to both capitalise on a true cutting-edge innovation and drive demand for PGMs at the same time.”
The advanced battery technology development by both companies will enable them to create increasing demand for platinum and palladium in the battery technology space.
Anglo American Platinum announced that its net profit for 2019 more than doubled over 2018 on the back of higher PGM prices, as the company recorded its first-ever fatality-free year.