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Batteries/Rechargeables Magnesium 050805

 Idea One, through its subsidiary Advanced Technology Upgrading, Ltd. (“ATU”), builds the world’s first successful lab-tested magnesium rechargeable battery.  The Company, in cooperation with   Professor Doron Aurbach of Israel’s Bar Ilan University and Tadiran Batteries Ltd., are developing the next generation of battery technology based on a magnesium battery.

Idea One and Professor Aurbach have tested and patented the chemistry for rechargeable magnesium battery systems that can be recycled thousands of times with very low capacity fading.  Laboratory tests have verified that the battery can  recharged over 3,000 times and can produce up to 1.1 to 1.3 Volts per a single cell, with energy density comparable to existing systems.  The battery’s overall performance has been independently verified by the U.S. Department of Energy.   The battery is expected to be commercially available in less than a year for many applications, including uninterruptible electric power for computer networks, electricity for storage for power generation plants and utilities, electric vehicles and portable powered devices.  

Aurbach and his team are currently looking for ways to increase the energy density of their magnesium batteries.  Idea One anticipated that with additional research, the energy density of rechargeable magnesium batteries can be increased by 50%, and there may be the possibility of developing magnesium batteries with working potentials higher than 1.5V and theoretical energy density higher than 200 Wh/Kg, making them ideal for use as an electric vehicle battery.  

Sona Development Corp. of British Columbia, Canada expects to introduce this patented  technology to commercial markets and will complete a private placement of between $1.5 and $3.0 million before acquiring Idea One.