UTR Charges Up With More Strategic Battery Partnerships and a Fortune 500 ConnectionThere are a number of distinct issues that limit the reach of rechargeable batteries — slow charging times, high cost, limited battery lifetime, and safety issues. Ultracharge (ASX:UTR) may have the solution. UTR has signed multiple new deals with partners, acquired complementary intellectual property, advanced a pilot project, and raised A$2.5 million to create and commercialise technology to capitalise on the rapidly growing battery manufacturers’ market. In its latest deal, UTR has entered an MOU with China’s leading fluorine chemical manufacturer, Sinochem Lantian Co. Ltd, a subsidiary of Sinochem Group, which is a Chinese state-owned Fortune Global 500 company. This agreement makes the most of the IP that UTR acquired from Coorstek a few months prior — enabling the production of a superior electrolyte salt (LiFSI salt) which can increase battery lifespan and performance.
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UTR Price at posting:
3.5¢ Sentiment: Buy Disclosure: Held
