Altair International Corp., Pittsburgh, PA, United States, (OTC: ATAO) announced today that it has completed the acquisition of a novel, ‘next-gen’ lithium battery technology from Cryptosolar Ltd., a company incorporated in the United Kingdom.
For the purposes of this acquisition, Altair has formed a new subsidiary, EV Lithium Solutions, Inc., which has acquired 100% of said technology, including all rights and prototypes.
Cryptosolar has developed a next-gen, solid-state lithium battery technology which has the potential to address many of the concerns and weaknesses associated with the current battery models in use in the world today: charging times, safety, and lifetime charge/recharge cycles.
In the coming weeks, the Company will provide further detail on the technology and its potential, as well as updates on development and a general plan and forecast.
Leonard Lovallo, President and CEO of Altair, stated: “We are pleased to announce this acquisition for the purpose of developing and manufacturing next-gen lithium batteries. We view this acquisition as an important compliment to our company, and we believe that this technology and battery architecture has the potential to reshape the landscape. In the electric vehicle space, in particular, the trend towards widescale adoption has taken shape organically in the past years, and is now being reinforced by government mandates across the world. We believe that this sector is likely to experience years of truly fantastic growth; this acquisition positions Altair to not only participate in that growth, but potentially to play a role in driving it as well.”
About Altair International Corp.
Altair International Corp. is a diversified holding company whose strategy is to acquire interests in a range of profitable ventures within the Energy and Minerals sector.
Source:batteryindustry
