Solidion Technology, an advanced silicon anode and battery technology materials provider, has announced its operational and financial results for the third quarter of 2024. The Company declared a $4.2 million loss from continuing operations, including increased spending on third-party validation testing for automakers. Net Loss was $6,636,679.
Solidion Technology also mentioned technological and business developments. Among the technological advancements were: developing and securing a newly granted U.S. patent for technology enabling 5-minute charging of lithium batteries across all climates by leveraging a graphene-based heat spreader for optimal battery temperature control, expanding the Company's industry-leading intellectual property portfolio 1 with 20 new U.S. patents granted this year and achieving third-party validation for the Company's cost-effective process that eliminates the need for toxic silane gas and CVD techniques.
The business development and corporate updates focused on: signing a strategic Memorandum of Understanding with Bluestar Materials Company on November 8, 2024 to accelerate the commercialization of Solidion's silicon-based anode technology, Bitcoin purchases that are now part of the Company's corporate treasury strategy and inclusion into the Russell 3000® Index , enhancing Solidion's visibility among institutional investors and positions the Company to attract broader market interest and capital.
"Solidion is well positioned for the rapidly changing political landscape as a low-cost U.S. manufacturer," said Jaymes Winters , CEO of Solidion Technology. "We have achieved several milestones that several competitors have yet to achieve, despite spending exponentially more than Solidion".
