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5E Advanced Materials Executes Research Agreement to Enhance Solar Energy Systems

September 07, 2022 07:00 ET | Source: 5E Advanced Materials, Inc.

HIGHLIGHTS​

• 5E to collaborate with Boston College, a leading university with world renowned boron chemistry expertise
• Research aims to develop a novel boron-based solar energy capture, conversion, and storage system
• Research aligns with 5E’s strategy of IP creation in future facing boron-enabled applications

HOUSTON, Sept. 07, 2022 (GLOBE NEWSWIRE) -- 5E Advanced Materials, Inc. (Nasdaq: FEAM) (ASX: 5EA) (“5E,” “We,” “Our,” or the “Company”, an exploration stage boron and lithium company with U.S. government Critical Infrastructure designation for its Fort Cady asset, today announced its research collaboration agreement with Boston College for the advancement of boron-based materials research in solar energy systems. Under the terms of the agreement, 5E will provide funds to and collaborate with Boston College in exploring and developing novel boron-based materials that have the potential to integrate solar energy capture, conversion, and storage into a single closed system. This research has the potential to create intellectual property and commercialization pathways for 5E as it pertains to the manufacturing of boron enhanced solar energy systems.

Solar energy is expected to play an important role in serving the increasing demand for a carbon-neutral global economy. The IEA expects solar energy to account for 60% of the increase in global renewable capacity in 2022 and the National Renewable Energy Laboratory (NREL) forecasts that solar energy could provide up to 45% of the electricity in the U.S. by 2050. Scalable, efficient technologies in solar energy capture, conversion, and storage will be important factors in economically supplying increasing demand.

This research agreement has the potential to create boron-based materials that serve the accelerating, future-facing solar marketplace. This agreement also aligns with 5E’s strategy to become a global leader in boron specialty and advanced materials by collaborating with innovative leaders such as Boston College.

Commenting on the research agreement, Boston College Professor, Shih-Yuan Liu, said:
“Boron is an extremely versatile element with fascinating elemental and chemical properties. We have been developing boron-based compounds for applications across biomedical research and catalysis to optoelectronic materials and are excited to focus on solar energy applications given decarbonization implications. This research has the potential to create boron advanced materials that capture the energy of sunlight and directly convert it into a storable high-energy fuel.
We are pleased to work with 5E on this endeavour since their thought leadership and vertically integrated business allow for a smooth transition from basic research to prototype development and large-scale production.”

Commenting on the research agreement, 5E CCO and CTO, Dr. Dinakar (Dino) Gnanamgari, said:
“There is an ever-increasing global call for a decarbonized future, and solar energy will be a major part of the solution. To achieve success, however, will require enhanced, scalable technologies for solar energy capture, conversion, and storage. We believe our research agreement with world renowned university, Boston College, has the potential to create such an efficient solar energy platform using boron advanced materials.”