- AnteoTech (ADO) has delivered a solid quarter of development and advanced key business relationships
- The company’s new cross-linked binder development is progressing quickly and has gathered market interest
- Feedback will be used for collaborators to enhance the binder product
- A research and development claim of $950,000 has been prepared for lodging to strengthen cash reserves
- Despite the solid report, AnteoTech’s share price is down 3.33 per cent with shares currently trading for 2.9 cents apiece
AnteoTech (ADO) has delivered a solid quarter of development and has advanced key business relationships.
At the end of the December quarter, AnteoTech had approximately $2.11 million in cash on hand, compared to $3.23 million at the end of the September quarter.
An R&D (research and development) claim of approximately $950,000 has been prepared and will be lodged this quarter. This will further strengthen cash reserves.
On November 11, the company held its annual general meeting in Sydney and all resolutions were approved by shareholders, including the change of name from Anteo Diagnostics to AnteoTech.
CEO Derek Thomson outlined a strategy for the company over the next 12 months, including battery and life sciences programs.
The battery program will see the progression to commercial relationships, improve and optimise a silicon-based composite to maximise energy density, and develop composite process and electrochemical testing.
The program will also continue to provide composites for testing and feedback, and continue developing collaborative relationships in the lithium-ion battery industry.
AnteoTech will continue to work on its pipeline to close business with organisations in collaboration, complete multiplex lateral flow assay trials with Axxin, and capitalise on large geographic market opportunities in China, Japan, Korea, Europe and the U.S.
The company also made some achievements in the energy sector with the development of a cross-linked binder, increased business development activity to broaden market reach, and identifying potential new collaborations.
AnteoTech has also been working to produce a water-based binder system that will enable low-cost industrial-scaled usage and create improved electrode cohesion for application in anodes containing active materials such as silicon and graphite.
In future development work, the cross-linked binder system will be used to interact with AnteoTech’s silicon composites to tightly link the composite particles to the electrode structure.
So far, the company has been able to achieve control over cross-linking behaviour for standard water-based battery binders, demonstrate battery processability and electrode coating.
During the quarter, AnteoTech produced several different silicon samples which have now been sent to collaborators for a four-month evaluation period.
Feedback regarding performance and handling characteristics of the composite is expected to be used for collaborators to continue to enhance the composite as necessary.
Next phase development of the silicon composite is underway with the focus to increase the level of porosity (absorbent) of the particle.
Increasing the porosity will provide cavities in the article that will help control the expansion of silicon experienced when it’s charged.
It is expected this development will take time and AnteoTech is actively pursuing partnership development discussions with collaborators.
Despite the solid quarter, AnteoTech’s share price is down 3.33 per cent with shares trading for 2.9 cents apiece at market close.