The press release did not disclose the financial terms of the MOU. The lighter weight increases energy density and extends the range of a vehicle while limiting copper use. This reduces the weight of the current collector by up to 80%. The technology deposits thin layers of copper on the sides of a polyester substrate. For example, DuPont will be in charge of polyester substrates, while Mitsubishi will provide automation technology and expertise.Īs stated earlier, Meta Materials will contribute its PLASMAfusion technology. Afterward, the next stage will be an industrial-scale mass production line, followed by the last stage of “further development of the application to the production of solid-state batteries.” Each company will contribute different resources to the stages. The first stage will be a pilot-scale roll-to-roll system. The MOU will take the form of a multi-year project with several stages. MMAT Stock Alert: What Do New Partnerships Mean for Meta Materials? With today’s climate crisis and the increased demand for Electric Vehicles, a next-generation Li-Ion battery is required that is more sustainable and safer.” Meta President and CEO George Palikaras added: “Current Li-Ion battery innovations focus mainly on extending battery range and life span. The MOU seeks to reduce the dependence on copper. In addition, EVs need 2.5x more copper than internal combustion engine ( ICE) vehicles. S&P Global predicts that there may be a global shortfall of the metal between 1.6 and 9.9 million tons by 2035. The agreement will see the two parties utilize Meta’s PLASMAfusion technology to scale a “proprietary, high volume, roll-to-roll manufacturing system for film-based, coated copper current collectors.” The end product will contribute toward lower battery weight and cost and improve range and safety when compared to traditional Li-Ion batteries used in electric vehicles (EVs) and other products.Ĭopper is a heavily coveted material in building lithium-ion batteries. Today, MMAT stock is gaining more than 10% at the time of writing. Yesterday, it was announced that Meta Materials (NASDAQ: MMAT) had entered into a memorandum of understanding (MOU) with DuPont Teijin Films and Mitsubishi Electric Europe.
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