The Coretec Group Announces a Full Utility Patent Filing and Provides an Update on the Definitive Share Exchange Agreement with Core Optics
May 02 2024 - 3:41PM
The Coretec Group Announces a Full Utility Patent Filing and
Provides an Update on the Definitive Share Exchange Agreement with
Core Optics
The Coretec Group (OTCQB: CRTG), developers of silicon anode active
materials for lithium-ion batteries and cyclohexasilane (CHS) for
electric vehicles (EVs), cleantech, and emerging tech applications,
today announced the filing of a full utility patent application for
its silicon-based battery anode development program, Endurion, and
provided an update on its anticipated definitive share exchange
agreement with Core Optics, LLC.
On May 1, 2024, The Coretec Group filed its full utility patent
application for Endurion after filing its provisional
patent application in May 2023. As previously outlined,
Coretec’s team of scientists developed three distinct and novel
methodologies for minimizing pulverization and increasing rate
capability by creating an artificial SEI layer around the silicon
nanoparticle. In the last year, testing data has shown that
Endurion batteries with this unique SEI layer can extend
silicon-based anode lifespan and boost energy density by enabling
higher silicon loadings in lithium-ion batteries, as stated in the
patent filing.
Core Optics, LLC is working diligently to meet and complete
audit requirements, and has retained TAAD LLP, a PCAOB registered
firm, to conduct the 2023 fiscal year audit. TAAD is highly
qualified in this space, working directly with public companies
including those with business operations in Asia. As due diligence
and integration efforts continue, Core Optics’ revenue has grown as
the Company meets the high demand from auto manufacturers and
blue-chip companies for its products. The corporate headcount has
also grown, predominantly in manufacturing and engineering, to meet
the demand and work through its backlog.
“Our Endurion battery program is viewed with tremendous
potential internally as well as within advanced technology and
industry conversations, making it paramount that we protect that
asset,” said Matthew Kappers, Chief Executive Officer of The
Coretec Group. “This is especially true with the Core Optics
agreement progressing through appropriate steps to completion, as
they possess established sales channels and revenue streams from
the auto manufacturers likely to evaluate Endurion. The process for
this share exchange will take time, and we are appreciative of the
patience from employees, partners and especially our
shareholders.”
About The Coretec Group
The Coretec Group, Inc. is an Ann Arbor, Michigan-based
developer of engineered silicon and is using its expertise to
develop silicon anodes for lithium-ion batteries that will charge
faster and last longer. This program is called Endurion. Silicon
has the theoretical ability to hold up to 10x the amount of
lithium-ions as compared to traditional graphite. Through its
proprietary micron and nanoparticle approach, Endurion is loading
silicon into the battery anode. A modest increase in silicon will
be a game changer that will revolutionize the EV market as well as
other energy storage applications.
Additionally, the Company is using its engineered silicon to
develop a portfolio of other energy-focused products, including
solid-state lighting (LEDs), semiconductors, and printable
electronics. Coretec continues to develop CSpace, its 3D volumetric
display technology with a wide array of applications including
medical imaging, automotive, and others.
For more information, please visit thecoretecgroup.com.
About Core Optics
Core Optics LLC, a Virginia limited liability company, runs its
operations through its Korean subsidiary, Core Optics Co., Ltd.
Core Optics Co., Ltd. was established in 2023 after acquiring a
compact camera module testing equipment product line. It is
renowned for its involvement in a high-value enterprise centered
around the production and distribution of inspection equipment
tailored for compact camera modules (CCM) used in smartphones and
automobiles.
For more information, please visit
https://www.coreoptics.us/.
Follow The Coretec Group on
X – @CoretecGroupIncLinkedIn –
www.linkedin.com/company/24789881YouTube –
www.youtube.com/channel/UC1IA9C6PoPd1G4M7B9QiZPQ/featured
Forward-Looking Statements
The statements in this press release that relate to The Coretec
Group’s expectations with regard to the future impact on the
Company’s results from operations are forward-looking statements
and may involve risks and uncertainties, some of which are beyond
our control. Such risks and uncertainties are described in greater
detail in our filings with the U.S. Securities and Exchange
Commission. Since the information in this press release may contain
statements that involve risk and uncertainties and are subject to
change at any time, the Company’s actual results may differ
materially from expected results. We make no commitment to disclose
any subsequent revisions to forward-looking statements. This
release does not constitute an offer to sell or a solicitation of
offers to buy any securities of any entity.
Corporate Contact:
The Coretec Group, Inc.Lindsay
McCarthyinfo@thecoretecgroup.com+1 (866) 916-0833
Media Contact:
Spencer HerrmannFischTank PRcoretec@fischtankpr.com+1 (518)
669-6818