Good stuff Captain

Here's the transcript. Some very good stuff in it:

AnteoTech lands QLD govt funding for silicon batteries

Company news

18h ago

Key points:

• AnteoTech is working towards increasing silicon in batteries to improve EV range by 40% and charging time by half while reducing costs

• AnteoTech has received a government grant of up to $1.39 million from the Queensland Critical Minerals and Battery Technology Fund

• The company is working on major collaborations, including next-generation EV batteries and leading wearable technology, aiming for potential commercial agreements in the second half of 2024

David Radford, CEO of AnteoTech (ADO), spoke about the company being a world leader in pursuing increased silicon content in batteries, enhancing electric vehicle (EV) range by 40% and halving the charging time. The enhancements are achieved by thinning the anodes and making them silicon-richer, enhancing energy concentration and charging efficiency in lithium-ion batteries. AnteoTech's solution is easily incorporated into existing lithium-ion batteries, and won the manufacturing innovation award in Australia in 2022 for its ease of inclusion into new technologies.

AnteoTech has recently received an award of up to $1.39 million from the Queensland Critical Minerals and Battery Technology Fund. This recognition comes as the company is working on multiple projects, including partnerships with globally recognised electric vehicle companies. Through these collaborations, AnteoTech is advancing towards having its technology integrated into the next generation of electric vehicle batteries. This could result in a significant opportunity given their lead product, Antioch's, costs roughly $400 per litre while almost a litre is needed per car battery.

Furthermore, AnteoTech is in partnership with leading consumer companies that deal with wearable technology, such as electric watches and earbuds. A materials transfer agreement was recently signed with a notable company in Europe to assess the use of Antioch's in these products. Potential commercial agreements are expected in the second half of the year, making 2024 a significant year for the company. David highlighted that sourcing silicon for their anodes is not a problem, as they utilise widely accessible low-grade metallurgical silicon. AnteoTech also aims to provide cost-effective solutions, claiming to reduce costs by more than $500 per battery for electric vehicle manufacturers.

Find the full unedited transcript of this interview below:

AnteoTech, a revenue stage company providing solutions for clean energy and life sciences, has been awarded a government funding. In Queensland, up to $1.39 million will be allocated to antibiotic under the Queensland Critical Minerals and Battery Technology Fund to discuss AnteoTech CEO David Radford joins me now. David, thank you so much for joining us.

0:23

Thank you Danielle, it's a pleasure to be here. Okay. Maybe let's break it down because clean energy space very popular for some investors. Uh, can you just give a little bit more color before we get to this announcement of what antibiotic specializes in? Sure. Danielle, we're, uh, we're a leading company in the move to including higher silicon in in batteries and what this means for the consumer, if you drive in an electric vehicle, we can basically increase the range of that vehicle by up to about 40%. So if you're if you're Tesla says it can do 400 K, we've got a technology that can add 40, 40% more kilometers onto that. Um, by making anodes higher silicon, we're also able to make them much thinner, which we believe will halve the charging time of the battery. So, uh, significant benefits and increase their

1:23

energy concentration and charging time for, uh, for the lithium ion batteries. That's absolutely fascinating. And is that within the context of the lithium battery technology or is it a completely different battery technology, like, is it a add on and complement or something new? No, it's uh, it's a very easily incorporated product into existing lithium ion batteries. So very easy. No change to manufacturing processes, easily adaptable. Um, and uh, it's it's been designed that way. And in fact, in 2022, we want a manufacturing innovation award here in Australia for its ease of incorporation into new technologies. Within that context, um, let's intertwine now the contract that you've won and how that's going to benefit the company, because I'd love to flesh out which stage are you at in terms of commercialization,

2:23

revenues, etc.. Great. And, Danielle, firstly, I'd like to, uh, obviously recognize the, uh, the Queensland state. It's tremendous the support they are giving to businesses such as ours. So we're very appreciative of this in terms of, uh, commercialization. We, uh, we have multiple projects underway and we're working with, uh, with some major electric vehicle companies, global companies with highly recognizable brands. Uh, we're working with, uh, with one of these in a very advanced stage that, uh, we believe if we continue to perform as we are, we should be part of their next generation electric vehicle batteries. And, uh, to give you and, uh, and your viewers an idea we would be use using approximately one litre of our lead product and zero per car battery. Well, we, uh, we see a price of this product at about $400 a litre. So, uh, if you're producing

3:22

100,000 cars a year as an example, it's, uh, it's a very big opportunity for us. We're also working with some leading consumer, uh, companies that have wearables such as, uh, the electric watches, the earbuds. Um, and we're, uh, we've just signed a materials transfer agreement with a leading company in Europe, uh, to evaluate the use of our lead product, Antioch's, in these products with a view to entering into a commercial agreement in the second half of the year. So we see 2024 as being a very big year for Antioch Tech. We've got a couple of commercial agreements we're targeting in the second half of the year, obviously working with these partners as we speak, and also a very big opportunity with a leading car manufacturer. So, uh, we are on the cusp of some very significant breakthroughs within the business. Certainly sounds like it. Is there a comparable technology

4:22

out there? I mean, it seems like, um, you know, cracking electric vehicles. I mean, already so much has been achieved. But ultimately the big criticisms are range anxiety for drivers on EVs and speed charging times. So Antioch, if I've understood you, goes a considerable way to solving both of those problems. But are you facing other similar or not similar, but other technologies that are also driving to push efficiency and range? So great question. The answer is we have a leadership position with. Our Antioch's which is our first product. And we've we've recently announced to the market that we have established our first manufacturing plant here in Brisbane. So we believe that the competition for the Antioch's as an additive is very low. We're also working in our own, um, ultra high silicone

5:22

anode. And to give you an example, the electric vehicles currently on the market use about 10% silicon in their batteries. As you put more silicon in, you can have more lithium ions. You get that increased charge density and that ability to make the anode smaller.

5:40

Just before Christmas, we manufactured our first commercial scale anode with 70% silicon. So seven times higher than is is being used commercially. So we are one probably of several solutions that is pushing the boundary at that level. But we have a very cost effective solution to that quandary of moving to Hyacinth. So whilst I wouldn't say we are the outright leader, we are certainly in the lead development pack with some very exciting opportunities ahead of us.

6:15

Just in terms of sourcing silicon. Remind us all. I'm having a bit of a I'm thinking sand silica, but

6:25

it is okay. Well, there's also I don't know by potentially sounds shortages. So just give us some idea in terms of the feedstock into this technology and how you're handling all of that. Because we all know lithium is highly abundant. You know, Elon Musk has made that comment. It's the processing that's the issue for that. What's the what's the feedstock answers for Antioch tech. So we're using a what is effectively a low grade metallurgical silicon that is produced by multiple players globally. So in terms of the feedstock for our silicon anodes, there's there's absolutely no restriction on that. Part of the work that we have been doing over the last six months is the raw materials for our Antioch's product. We are locking in supply chains for that. Um, and that is basic chemical composition that the smarts then are in the formulation of the product. So, um, we

7:25

are using readily available chemistries and then making something very special out of. So, uh, we've looked at producing products that provide a solution in a very cost effective way. So to your point, Danielle, not only are we getting better range, faster charging, but we've also been able to demonstrate that for the electric vehicle car manufacturers, we can pull more than $500 us out of the cost of every battery, which, when you're producing hundreds of millions of cars a year, is significant. Totally. David, I just want to sneak in one weeny question. You've got revenues. When are you looking at being cash flow positive and making some money?

8:09

Look, we, uh, we are very excited about the future. We are not actually giving any guidance on our numbers at this stage because we are early stage revenue. But, uh, as I'm sure you and your viewers would appreciate, uh, with a couple of targeted consumer electronics opportunities in the second half of the year and an opportunity to work with, uh, a couple of major electric vehicle manufacturers with a high price product. Um, you know, it doesn't take long for us to be looking at some very meaningful revenue.