Anteo Diagnostics Ltd (ASX:ADO) surged 64% to $0.023 late morning on news of a development project for its AnteoCoat nano-coating technology for lithium-ion batteries.
U.S.-based battery consulting company Polaris Battery Labs LLC has been engaged for the six month project.
The data generated is expected to play an important part in Anteo’s commercialisation strategy for the technology.
Polaris will examine the impact of various concentrations of AnteoCoat on a variety of ratios of silicon incorporated into an anode.
Performance of AnteoCoat to be examined
The project will also examine the performance of AnteoCoat on half-cell and full-cell battery prototypes.
The final aspect will be the modelling of these results such that the overall impact of AnteoCoat on lithium-ion anode battery performance can be fully characterised and documented.
It is expected that the results will provide a basis for understanding the impact of AnteoCoat on other components of lithium ion batteries such as the battery cathode.
Data package to be generated
A comprehensive data package is expected to be generated by June 2018 providing Anteo with sufficient material to continue discussions with battery manufacturers.
Further studies are likely to be required on full-cell batteries to provide an understanding of how the product can be commercialised into existing battery technologies and production processes.
Strong buying of shares
The news sparked strong buying with more than 60 million shares traded during the morning.
Anteo Group is a nano-chemistry technology and medical supply group, developing, commercialising, manufacturing and distributing products.
These products are targeted at the life sciences, IVD, point of care, medical devices and energy markets.