Whatis the relevance of Anteo’s battery data?Answer: Batteries...

Whatis the relevance of Anteo’s battery data?

Answer: Batteries utilising Anteo X have muchgreater energy density – more fuel.

It is bemusing to see a company release data for prototypeAnodes that far exceed the dreams of leading battery companies and it gets no recognitionfrom the press, or stock market for its achievements. When we think ofcompanies like Sila offering a 17% improvement valued at 3.6bnUSD and ADO at218mAUD there is a real paradox.

No other company is within cooee of Anteo. Their dreams arefor 20% Si Anodes in the years to come. Anteo’s leading prototype has 70% Si,producing over 2,000mah/g. Its closer to market anode produces over 1,000mah/g.So, what is the relevance of this data in the world of us run of the millpunters??

We have a couple of electric appliances at home (DJI droneand Stihl Whipper snipper), so I looked up their data which is publiclyavailable; and for one of the leading electric car manufacturers (Kia) and didan analysis of the benefit Anteo anodes bring to the table. This was done onthe assumption that the Cathode and other elements of a battery can cope with theextra energy density of the Anteo prototypes. I had my calculations checked byan engineer friend of mine and the logic by a PhD with battery expertise. Theoutcome is set out in the table below.

	Battery	Purpose	Capacity	Range		Anteo >1,000mah/g	Range	Anteo 70% Si	Range
1	DJI Model MBI 1480mah 11.4v	drone	16.87Wh	15 mins		86.2Wh	1.33hr	172.4Wh	2.5hr
2	Stihl Ap 300	whipper snipper	227Wh	30 mins		1,786Wh	3.9hrs	3,573Wh	7.8hrs
3	Kia EV6	car	77.4kWh	426km		481.8kWh	2,652km	963.5kWh	5,303km

What doesthis data tell us?

That weight, range and size issues resulting from the anodeare overcome. Imagine small consumer drones that can stay in the air for 1hr20mins. As a person that can be using a whipper snipper for hours at a time 30minsis not enough. It is much easier to refill the petrol tank. A battery that lasts4hrs would be ideal. Then there is the holy grail of markets, cars. We live in regionalAustralia, so an electric car with over 1,000km range would be a no brainer. Eventhe Anteo 1,000mah/g advanced prototype appears to meet these criteria easily.There must be some reasons why Anteo is not being run over by companies wishingto adopt its anodes. I can see two:

1.The issueof battery capacity is moved from the anode to the cathode. The best prototypecathode I could find produces 560Wh/kg, for over 800 cycles. Simple logic saysthat if an Anteo anode is combined with the cathode in a 1:2 ratioanode:cathode then for the advanced prototype a vehicle range of over 1,300kmis achievable and for the 70% Si anode, this doubles. I am sure there are otherissues but this solution would address the major one; capacity of anode andcathode.

2.Anotherissue may be the number of cycles the anode is functional for. The advanced Anteo1,000mah/g prototype we know lasts for at least 400cycles in testing (i.e. cycle = fully charged - fully flattened). Wealso know that our phones shut down before they get very low. We know that Kiaand more and more E-car makers recommend operating between 20% and 90%, thequick charge range. That is because batteries do not degrade nearly as quicklyif a battery is not run down to nil nor charged to the maximum. Using the 2Anteo prototypes I would be happy with over 900kms normal operating range and 1,800kmsfor the 70% Si model.

This set of information is emphatic. The Anteo anode ishighly relevant for use here and now. It is applicable for many applicationsnow.

The Paradox

The severe discount of the Anteo corporate value, especiallywhen compared with US entities like Sila is for two reasons:

1.The USmarket for ‘risk’ capital values high risk tech investments with a large upside,highly. Their VC industry has sufficient capital to both properly capitalise anentity and to succeed on 1 out of 10 investments.
By comparison, Australian risk capital is very used to funding and valuing miningexploration companies.
Hence, risk ventures such as Anteo tend to be undervalued in Australia until runsare on the board. CSL is a classic example.

2.Anteo hasbeen close a number of times but has not got passed 10 not out. Hardly testbatting material yet. It does have real pedigree to offer with itsunderstanding and capability in material science at the nano level evident byboth its Covid product and battery anode prototypes.
Currently it is demonstrating very real potential to be a regular scorer ofover 100 and it is doing constructive things to improve its batting technique:

a.It isbuilding business development capability in both Battery and Life Science whichhave been severely lacking for far too long. Something that should have been addressedin Dec 2020.

b.It is replacingthe Chairman and CEO, who were beyond their station and did not recognise thefact. Thus, failing to achieve tangible goals. We must always remember Kerry Packer’s greateststrength was to surround himself with people that had greater capability thanhe had.

c.It isdoing the hard yards running more trials for its Covid test, for the upliftedrequirements of the EU and TGA, that will demonstrateits true capability for POC use that many tests today can only dream about. Note Covid will be around for many many years.

d.I stronglysuspect it is utilising its battery data to move discussions forward with potentialpartners, otherwise why disclose it.