BattFlex Technologies, Inc. (BFT) is an innovative, advanced, and flexible lithium ion battery company, with unique nanofiber and graphene technology. This technology can provide unprecedented flexibility of high-capacity lithium ion batteries for use in lighter, thinner, and bendable devices, such as smart watches, flexible cellphones, and medical devices. BFT has finished its first generation prototype development, and is expecting significant revenue growth in 2017.
BattFlex Technologies's compelling value proposition is a new patented method to make high-capacity and flexible electrodes that provide lighter weight and better flexibility in batteries, allowing them to be repeatedly bent, while being 20-25% lighter and thinner than the existing, thus providing exceptional capability to make lighter, thinner, and bendable devices for the consumer.
BFT has received tremendous recognition from the industry and the government. The company has received over $250,000 in seed funding from The People's Republic of China, and the founding team has been awarded and recognized as an Overseas Chinese Elites and Distinguished Experts. The first generation prototype was successfully developed and released in China December 2015, where it was placed and tested in the wearable device market.
The next phase would consist of developing flexible cellphones and individual soldier fighting-systems using BFT's flexible high-capacity lithium ion batteries, where demands for flexibility and higher energy density are paramount.
Once the battery is fully qualified it would then be available to the wearable device companies.
BFT has quoted over 1 million units in annual sales and is working with top name OLED manufacturers to develop flexible cellphones.
Angle-Round Equity Capital Raise – To address growing demand and accelerate the product development process, BFT is raising up to 1 million USD of equity capital. BFT will use the proceeds of this angle-round investment to cover working capital as the product finishes R&D, qualification at key customers, and marketing.
Superior Technology with a Sustainable Cost Advantage: BFT's flexible lithium ion battery combines with nanofiber and graphene technology, presenting an exceptional flexibility compared to state-of-the-art lithium ion batteries. Due to the nature of nanofiber and graphene as well as the proprietary manufacturing process, BFT is able to manufacture its products at a dramatically lower cost while offering the capability of repeated bending or even rolling. The revolutionary battery manufacturing greatly reduces the equipment capital investment, improves the production yield, and reduces the manufacturing cost compared to slurry coating. BFT's versatile technology platform is currently covered by 2 Chinese and international patent applications. More patents are in preparation.
Disruptive Products Positioned for Substantial Growth: The need of flexible batteries has raised significantly in recent years. The current major demand is from smart wearable devices. With new demand coming from flexible cellphone companies such as LG, Samsung, and from individual soldier fighting-systems, the market will continue to grow and demand higher levels of performance from batteries, positioning BFT for substantial growth, with revenue projected to reach over 11 million USD with net margins of 3.5 million USD by the end 2018.
BFT uses a combination of high-capacity battery materials with nanofibers and graphene to create a thin and flexible electrode sheet with high conductivity and mechanical flexibility. The flexible technology platform has allowed products for lithium ion batteries, supercapacitors, and lithium ion capacitors. BFT has already filed two Chinese and international patents, covering the core combination of nanofiber and graphene with high-capacity battery materials in product, process and application patents.
The development of flexible electrodes with nanofiber and graphene using a high volume, low cost manufacturing process is complete. The electrodes can be easily rolled with a radius of 1cm and present a capacity of 10mAh/cm2. The use of nanofibers and graphene is crucial to achieve such flexible batteries, it also eliminates the need of metallic foils as current collectors, which further reduces the unnecessary battery weight and manufacturing cost. The initial cycling test indicates 300 life cycles. The material system at the current stage is lithium cobalt oxide and graphite. We are focused on applying our patent pending, high volume low cost manufacturing process to high voltage lithium cobalt oxide cathode and silicon anode. Migration to this new material system will significantly improve the energy density. In addition, polymer electrolyte or solid-state electrolyte will be implemented to further improve the safety of batteries. BFT has its developmental lab in Optical Valley, Wuhan China.
BFT has received many inquiries from wearable device manufacturers from around the world, and has R&D nearing the final stage. Some applications are drop-in replacements with inflexible batteries in use, while others will empower new product designs. These comprehensive tests take place at major customers and are expected to translate into meaningful revenue streams (over 10 million USD weighted revenues) by the end 2018. BFT expects that these first reference clients across various applications will provide BFT with the opportunity to demonstrate the merits of its technology. BFT has also been working with OLED partners to develop the first all-flexible cellphone which will come to fruition over the next several years.