AnteoTech [ASX:ADO] Shares Jump on Lithium Performance Results
AnteoTech [ASX:ADO] shares jumped as high as 20% in early trade on Monday after announcing the performance of its AnteoX product was ‘validated by two global battery companies’.
AnteoTech, the surface chemistry stock who also dabbles in COVID rapid antigent test kits, is up 25% this week.
Despite the spike, ADO shares are still down 70% year to date.
AnteoTech’s AnteoX: Validated
Today’s announcement was nothing to do with COVID testing equipment, but instead with the company’s lithium binder reinforcement technology, AnteoX.
Its ‘drop-in cross-linker additive’, AnteoX, was tested by two ‘respected and recognised global companies’ — ENAX and an unnamed company.
ENAX and the anonymous ‘global battery manufacturer’ each tested ADO’s additive for lithium-ion battery anodes.
ADO said the results confirmed ‘AnteoX’s performance enhancing properties, particularly in silicon-rich and high energy anode designs’.
ADO further said that it has now passed a first evaluation and validation stage.
Anteotech reported that ENAX’s testing showed a ‘substantial uplift in electrochemical performance’.
ENAX found that ADO’s product reduced the amount of binder added to the anode by 4% and increased active material added to the anode by 2.1%.
While ADO labelled the results significant, what will the commercial market make of them?
Will these improvements be enough to see manufacturers switch from their existing suppliers to AnteoTech?
AnteoTech’s Head of Energy Manuel Wieser said:
‘Having proven AnteoX in our laboratories it is exciting to see the independent validation of AnteoX from two respected battery companies, this marks an important development milestone for AnteoTech. Whilst there is further development and validation work to be done with both companies, the energy team is very pleased with the results to date. These collaborations are ongoing, and we would like to thank both parties for their roles in our technology development to this point. We will continue to provide further updates as the collaborations advance to the next stage.’
Now, the world where most of us drive EVs is still ahead of us, meaning the world will need plenty of battery materials to get us there.
Plenty of materials and plenty of innovations in extraction, processing, and manufacturing.
Our small caps expert Callum Newman recently penned a report on battery material stocks.
He thinks there are ASX stocks flying under the radar who could be the next ‘chosen ones’ — stocks tipped by Tesla to be their battery materials supply partners.
Callum thinks that one of the three battery stocks in his latest report ‘could be one of the most exciting nickel projects in the world. I’m not kidding’.
To find out more, read Callum’s latest battery materials report, ‘Elon’s Chosen One’, here.
For Money Morning