Thursday, 15 October 2015 08:30 AM
Company Update
TARRYTOWN, NY / ACCESSWIRE / October 15, 2015 / alpha-En Corporation (PINKSHEETS: ALPE), an innovative clean technology company focused on enabling next-generation battery technologies by developing and bringing to market pure, state of the art materials produced in an environmentally sustainable manner, issued the following Letter to Shareholders from its Chairman and Chief Executive Officer, Jerome I. Feldman.
Dear Fellow Shareholders:
This is an exciting time for alpha-En, and I believe it is the ideal time to write this letter and provide an update on a number of significant developments and achievements that I believe will transform alpha-En Corporation and our long-term growth prospects. Although our efforts to scale a technology that we thought was promising in 2011 did not yield productive results, we remained vigilantly focused on our strategy and have continued to prudently manage our investments and resources. As a result, we are now positioned to capitalize on what I believe is a major technological breakthrough.
In 2013, our R&D team invented an innovative process to produce high-purity lithium metal for use in batteries that is highly differentiated from what is currently available in the market. Demand for higher purity lithium is growing exponentially as manufacturers in a wide variety of industries are working to develop the next generation of battery technology to more efficiently power electric cars, mobile devices and a new wave of energy storage applications.
Our highly differentiated and proprietary process to produce high purity lithium uses a fraction of the energy needed for conventional production processes. In addition, the absence of toxic chemicals in our process has significant environmental benefits, and dramatically lowers our production costs to produce a higher purity lithium metal, free of contaminants and non-conductive impurities.
Our team has taken this innovation from the lab and advanced it through multiple independent "proof-of concept" validations, while simultaneously securing broad intellectual property rights through K&L Gates, a top-ranked law firm which the National Law Journal named to its "IP Hot List" of the top practices in the U.S.
Earlier this year, we expanded our R&D efforts to include a program at the City University of New York (CUNY), in its newly constructed laboratory in the Advanced Science Research Center (ASRC). Professor Stephen O'Brien, the head of our Scientific Research Committee, is leading a team of researchers who have successfully replicated our results to produce consistently high-purity lithium metal. We recently received additional third party validation from a highly regarded institution which gives us confidence that we are well positioned to make further progress.
Along with the CUNY team, we are preparing for "early commercialization," which means we will be able to deliver small samples of our product to prospective customers and research partners. We are meeting with an increasing number of potential customers in the battery space as well as strategic corporate and research partners that have shown interest in developing next-generation batteries using our lithium metal. Not only does our new process produce results that exceeded our expectations, we fulfilled our corporate mission to produce high-purity lithium metal in an environmentally friendly manner.
In 2012, we made the conscious decision to reduce our public company expenses as it was clear our efforts to scale a technology that we thought was promising did not yield productive results. As a top priority, we are working actively with our auditors and legal counsel to bring current the company's filings with the SEC and complete other organizational improvements to enhance our standing as a public company. We are taking steps to increase our transparency with the investment community and expect that our communications over the coming weeks and months will highlight our commitment to build confidence in our company and enhance shareholder value.
Today, we are focused on ramping production to commercial scale which we anticipate we will achieve in the second half of 2016. Our addressable market is substantial, rapidly growing and we have a highly differentiated product which we believe will position us to capitalize on a significant market opportunity. We are excited about the future and the potential to support next-generation rechargeable batteries by providing what we believe could be an enabling material.
While much of my professional life has been spent introducing new technologies to the market, we are embarking on an opportunity that has the potential to be the most impactful and exciting of my career. I look forward to sharing further progress with you, our shareholders as we execute on our long-term growth strategy.
Sincerely,
Jerome I. Feldman
Chairman of the Board and Chief Executive Officer
About alpha-En Corporation
alpha-En Corporation (OTCQB: ALPE) is an innovative clean technology company focused on enabling next generation battery technologies by developing and bringing to market pure, state of the art materials produced in an environmentally sustainable manner. For more information, please visit http://alpha-encorp.com.
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SOURCE: alpha-En Corporation