Battery Startup Amionx Signs License Agreement with Stanley Black & Decker
Amionx Incorporated has entered into a license agreement for SafeCore® with Stanley Black & Decker. SafeCore is a patented and transformative battery safety technology. Under the terms of the agreement, Amionx has granted Stanley Black & Decker a license for SafeCore.
Amionx has pioneered a technology called SafeCore that acts like a circuit-breaker to prevent lithium-ion batteries from being the source of a fire or explosion. Stanley Black & Decker is the first publicly announced licensee for the SafeCore portfolio of patents.
Lithium-ion is one of the most successful battery chemistries ever introduced with billions of cells being produced every year and 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 the performance boundaries of lithium-ion battery technology are pushed, safety incidents increase. While manufacturers use various techniques to improve safety, these existing techniques often reduce performance, increase cost and may not always guarantee safety.
Amionx SafeCore is focused on safety from the core of the battery outward and works even when other safety measures fail or are not activated. SafeCore is also applicable to other chemistries, as well as solid state, and could enable emerging alternatives such as lithium metal cells. SafeCore is applied as a thin coating between the current collector and the active electrode layer.
The implementation of SafeCore into existing battery manufacturing factories requires minimal additional capital cost and bill of materials for the battery. Amionx is in the process of global licensing of its patented SafeCore technology.
Amionx is a spinout from American Lithium Energy (ALE). ALE was originally co-founded in 2006 by Dr. Jiang Fan who is widely recognized as an expert in the field of batteries. 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 mission critical. Dr. Fan serves a joint appointment as the Chief Technology Officer for Amionx as well.
"We have proven the technology in multiple applications and battery configurations through evaluations with our early partners," said Jenna King, CEO of Amionx. "We are deeply appreciative for the opportunity to work together to commercialize a product with SafeCore in Stanley Black & Decker's global marketplace. Stanley Black & Decker is the world's largest tool manufacturer known for its commitment to innovation and safety, and Amionx shares these same core beliefs."