The Lithium Exploration Group has bought a series of patents on retail rechargable lithum battery technology developed in South Korea.
The core US patent being acquired is number 9,444,087, which provides two- and four-pack AA size lithium batteries with a charging pack that can replace many day-to-day applications of traditional alkaline batteries. The technology has already completed the testing phase and established manufacturing capabilities in China but the developer has run out of funds. The group is partnering with the inventor to bring the technology directly to consumers in 2018.
"This portfolio represents the classic story of an inventor who got his technology close to the finish line and ran out of funds. We have done a lot of due diligence on the patents and feel that, with the right financial partner in the US, his batteries could be selling online in less than six months," said Alex Walsh, CEO of the Lithium Exploration Group. "As one of the longest standing names in the lithium, petro-lithium, and lithium technology industry, we will use all of our connections and capabilities to get this outstanding invention to market next year. Ultimately this is a very small expense for tremendous upside if we can bring the right financial and strategic partners to the table. We have a very talented inventor who will stay on board and a great foundation of patents to work with."
Lithium Exploration Group is a US-based exploration and development company focused on the acquisition and development potential of lithium brines and other precious metals that demonstrate high probability for near-term production. It is currently the company is focused on testing technology for Sonic Cavitation and buying oil and gas related assets in the US and Canada.