17th Oct 2014 08:16
LONDON (Alliance News) - Graphene NanoChem on Friday said it has sealed a collaboration deal to develop graphene-enhanced lithium-ion batteries for electric batteries in Malaysia.
Under the deal, Graphene's Platinum Nanochem Sdn Bhd subsidiary will work with Sync R&D Sdn Bhd on developing a graphene-enhanced lithium-ion battery for electric buses under Malaysia's Electric Bus 1 programme.
Graphene will take the lead in developing the applications for the battery in order to design and produce the product.
The lithium-ion battery is anticipated to be a critical component for electric vehicles as a fully charged battery will enable the bus to travel between 180 and 200 kilometres before requiring to be recharged, Graphene said.
"We are delighted to announce this partnership, which will enable Sync R&D to continue its tradition of innovation in engineering solutions and will expand Graphene NanoChem's graphene applications in the energy sector," said Jespal Deol, chief executive officer of Graphene.
"Growing demand for the Li-on Battery and increased pressure in the industry to improve the technology provides an opportunity for Graphene NanoChem to eventually bring to market improved solutions to industry players who stand to benefit from a graphene-enhanced Li-on Battery," Deol added.
Graphene shares were up 0.7% to 48.97 pence on Friday.
By Sam Unsted; [email protected]; @SamUAtAlliance
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