€2.86M funding from Tekes for Picodeon

FergusUncategorized

Press Release

Ii, Finland

Tekes, the Finnish Funding Agency for Innovation, provides €2.86M funding to Picodeon for next generation Lithium Ion Battery (LIB) Separator Coating equipment production.

Picodeon have developed advanced Pulsed Laser Deposition (PLD) technology for the LIB industry. Using a high speed roll to roll process, and a 1 meter wide web, Picodeon will deliver their new platform to produce 20 nanometre to 2 micron thick Ceramic Coating layers, in late 2016. The company is working with key development partners in separator manufacturing and Lithium Ion Battery manufacturing as it develops its coating technology that will increase battery safety, lower costs, improve battery lifetime and energy density.

Fergus Clarke, Picodeon’s CEO said “We are delighted to have Tekes support as we commercialize our technology. This funding will accelerate our time to market and provide a solution that our customers are very excited about as they cannot wait to get their first production systems.”

The market for Separators in the Lithium Ion Battery industry is ready for explosive growth with demand expected to grow from 800 million sq. metres in 2015 to greater than 2,500 million sq. metres in 2025. Currently only 10% of separators are coated, this is expected to grow to over 80% in 2025 giving rise to huge demand for advanced separator coating equipment.

www.picodeon.com                                      www.tekes.fi

Contact :

Fergus Clarke, CEO, Picodeon,

Fergus.clarke@picodeon.com,

+358 40 631 8746