Battery X Metals’ Portfolio Company LIBRT Engages Leading Patent Law Firm to File Patents for Innovative EV Battery Diagnostic and Rebalancing Software and Hardware
Battery X Metals’ Portfolio Company LIBRT Engages Leading Patent Law Firm to
File Patents for Innovative EV Battery Diagnostic and Rebalancing Software and
Hardware
News Release Highlights:
• Battery X Metals' portfolio company, LIBRT, engages a leading Canadian patent law firm to file
patents for innovative EV battery state of health (SOH) diagnostic and rebalancing software and
hardware.
• LIBRT's Prototype 2.0 is intended to integrate future patent-pending diagnostic and rebalancing
technologies.
• LIBRT’s advanced SOH diagnostic and rebalancing software and hardware is designed to extend
the operational lifespan and optimize performance of electric vehicle (EV) batteries.
VANCOUVER, British Columbia – October 2, 2024 – Battery X Metals Inc. (CSE:BATX) (OTCQB:BATX F)
(FSE:R0W, WKN:A3EMJB) (“Battery X Metals” or the “ Company”) is pleased to announce that effective
October 1 2024, its portfolio company, Lithium-ion Battery Renewable Technologies Inc. (“ LIBRT”), has
engaged a leading Canadian patent law firm (the “ Leading Patent Law Firm”) to assist with filing patents
for its innovative EV battery state of health (SOH) diagnostic and rebalancing software and hardware.
Future Patent Filings for Lithium-ion and EV Battery Health Diagnostics and Rebalancing Innovations
With the support of the Leading Patent Law Firm, LIBRT plans to file patents for three key innovations,
which encompass both software and hardware components designed to enhance LIBRT’s lithium-ion and
EV battery diagnostic and rebalancing machine capabilities. These innovations are:
1. Software: Advanced algorithms to assess the state of health (SOH) and optimize the lifespan of
EV batteries.
2. Hardware: Proprietary equipment to implement rebalancing processes, ensuring optimal battery
cell performance.
3. Process Concept: A comprehensive system integrating both software and hardware designed to
provide a complete solution for battery diagnostics and rebalancing.
Development of Prototype 2.0 – Advancing Lithium-Ion and EV Battery Health Diagnostics and Lifespan
Extension through Rebalancing
Further to the Company’s news release dated September 27, 2024, LIBRT’s next phase of product
development is Prototype 2.0, which is intended to integrate the software and hardware advancements
described herein. Prototype 2.0 represents the culmination of several years of research and development
and builds on the company’s successfully developed initial prototype. It is designed to improve the
management of lithium -ion and EV batteries by providing advanced SOH diagnostic accuracy and
rebalancing capabilities to assess capacity and extend the lifespan of electric vehicle (EV) batteries.
Prototype 2.0 intends to introduce several key enhancements, including:
• Advanced SOH diagnostic modules that assess the maximum available capacity of EV battery cells. These
modules are expected to facilitate the repurposing of used EV batteries into second-life applications.
• Rebalancing technology that optimizes battery performance by restoring balance between individual
battery cells, designed to extend their operational life and energy output.
• Improved design and user interface, featuring a more compact form factor, refined aesthetics, and
enhanced ease of use for technicians and consumers alike.
• Additional technical enhancements including deciphering tools, connectivity tablets, airtightness testing
modules, and components that ensure commercial readiness.
LIBRT believes Prototype 2.0 will mark a significant milestone in the company's product development
lifecycle.
Market Opportunity
The Problem: Rising EV Adoption Brings New Challenges
The global transition to clean energy is rapidly accelerating, with batteries playing a pivotal role in reducing
fossil fuel dependence1. Demand for lithium-ion batteries is projected to skyrocket by 670% by 2030 2, as
global energy storage needs surge from 700 GWh in 2022 to 4.7 TWh2. EV will drive much of this demand2,
requiring 4,300 GWh by 20302. Regulatory initiatives, such as the US Inflation Reduction Act and Europe’s
"Fit for 55" program, along with the EU’s 2035 ban on internal combustion engine vehicles 1, are
accelerating this growth.
Yet, the rapid expansion of EV adoption brings new challenges. By 2031, nearly 40 million EVs, plug -in
hybrids, and hybrids worldwide will surpass their manufacturer warranties 3, leaving owners susceptible
to battery degradation. As a result, the demand for advanced battery diagnostics and renewal
technologies will grow, extending battery lifespans and promoting the sustainability of electric
transportation. The company believes this technology will offer a cost-effective, environmentally friendly
alternative for EV owners by reducing the need for expensive battery replacements.
The Solution: Pioneering a New Era of Lithium-ion & EV Battery Longevity
LIBRT’s proprietary technology addresses this challenge by diagnosing and extending the lifespan of EV
batteries. This innovation is designed to enhance the sustainability of electric transportation and provide
EV owners with a more cost -effective, environmentally friendly ownership experience by reducing the
need for costly battery replacements. LIBRT’s core technology, validated by the National Research Council
of Canada (NRC)4, focuses on two key areas: battery health diagnostics and cell rebalancing. This approach
is designed to mitigate the degradation of effective capacity in battery packs and address imbalances
within battery cells, improving battery longevity.
1 EnergyX
2 McKinsey & Company
3 IEA
4 Internal NRC Validation Report, dated March 8, 2022
About Battery X Metals Inc.
Battery X Metals Inc. (CSE:BATX) (OTCQB:BATXF) (FSE:R0W, WKN:A3EMJB) is committed to advancing the
clean energy transition by developing proprietary lithium-ion battery technologies and exploring domestic
resources for battery and critical metals. It’s portfolio company Lithium -ion Battery Renewable
Technologies Inc. (LIBRT)1 is developing proprietary technology to diagnose the health and extend electric
vehicle (EV) battery lifespan. Battery X Recycling Technologies Inc., its wholly -owned subsidiary, has
partnered with a global Top 20 university to develop a proprietary eco-friendly battery-grade material
recovery technology from black mass.
Battery X Metals also owns 100% of the Y Lithium Project in Saskatchewan (5,855 hectares), the Nunavik
Leaf River Project (3,500 hectares) and Abitibi Reservoir-Dozios Project (3,500 hectares) in Quebec, and
the NI 43 -101 compliant Belanger Property in Red Lake, Ontario (2,100 hectares). The Company has an
equity stake in Premier Silver Corp., which owns the Mallay Mine & Processing Plant in Peru, part of the
10,562.4-hectare Tres Cerros Au-Ag Project.
1 49% owned portfolio company
About Li-ion Battery Renewable Technologies Inc.
Li-ion Battery Renewable Technologies Inc. is a development-stage battery technology company based in
Vancouver, BC, focused on becoming a leader in lithium-ion battery diagnostics and renewal technologies.
LIBRT utilizes innovative and proprietary technology to diagnose and extend the lifespan of electric vehicle
(EV) batteries . Its battery cell rebalancing technology addresses capacity degradation caused by cell
imbalances, helping to extend battery life, reduce the need for costly replacements, keep batteries out of
landfills, and minimize the demand for mining critical metals . Additionally, LIBRT is developing advanced
diagnostic equipment for EV battery services.
On Behalf of the Board of Directors
Massimo Bellini Bressi, Director
For further information, please contact:
Massimo Bellini Bressi
Chief Executive Officer
Email: [email protected]
Tel: (604) 741-0444
Disclaimer for Forward-Looking Information
This news release contains forward -looking information and statements as defined under applicable
Canadian securities laws. Forward-looking information typically includes statements with forward-looking
terminology such as "expects," "believes," "anticipates," "plans," "intends," "foresees," "potential," "will,"
"may," and similar expressions. Such forward -looking information may include, but is not limited to,
statements regarding: (i) the anticipated filing of patents related to its EV battery diagnostic and
rebalancing technologies; (ii) the development and integration of LIBRT’s patent-pending innovations into
Prototype 2.0; (iii) the expected performance and benefits of LIBRT’s software and hardware solutions in
extending EV battery lifespan and enhancing performance; (iv) LIBRT’s commercialization strategies and
future market opportunities for its EV battery diagnostic and rebalancing technologies; and (v) other
statements regarding the Company's plans, strategies, and objectives. Forward -looking information is
based on certain material assumptions made by man agement and considered reasonable at the time of
publication. These assumptions include, without limitation, the successful development and testing of
LIBRT’s technologies, the availability of sufficient financial resources, market acceptance of the
technologies, favorable patent filing outcomes, and continued collaboration with industry partners. While
the Company considers these assumptions reasonable, they inherently involve significant risks and
uncertainties that could cause actual results or events to differ materially from those projected in the
forward-looking information. Factors that may cause actual results to differ materially from forward -
looking information include, but are not limited to: technical challenges related to product development
and testing, delays in patent filings or approval, market competition, changes in regulatory environments,
availability of financing, and broader economic or market conditions. Readers are cautioned not to place
undue reliance on forward-looking statements, which are based on expectations as of the date of this news
release and are subject to change without notice. The Company does not undertake any obligation to
publicly update or revise any forward-looking information, except as required by applicable securities laws.