Lightyear Technologies Enters Agreements with Catalyst and Battery Manufacturers
NORTH VANCOUVER, BC -- Lightyear Technologies Inc., a cutting edge nanotechnology company, has joined two major corporations in the catalyst and storage battery fields in agreements that will bring Lightyear’s revolutionary product closer to commercial applications.
"These are two of the areas where we believe our nanomaterials can make a huge difference, and we are now involved with companies that are leaders in their fields," said David Rendina, President and CEO of Lightyear. "These are big steps toward commercializing Lightyear’s technology in the catalyst and metal hydride battery industries."
Nanotechnology is the science of building products at a molecular level. Lightyear’s product is called Two Dimensional Material (TDMTM), so-called because it exists as sheets that are only one molecule thick. Lightyear is the first company in the world capable of producing nanomaterials in commercial quantities at its production facility in North Vancouver, B.C.
The latest agreements are with a world leading manufacturer of catalysts used in oil refining and Chung Pak Battery Works Ltd., a subsidiary of The Chung Pak Group based in Hong Kong.
In addition to these new agreements, the Phelps Dodge Corporation made a strategic investment last month in Lightyear to support Lightyear’s catalyst material testing at the National Centre for Upgrading Technologies in Devon, Alberta, the company’s first step in this product’s commercial development
Lightyear contends that by applying its expertise in nanotechnology to catalysts it may save the oil refining industry up to $30 billion over the next five years and help produce cleaner-burning fuels.
The agreement with Chung Pak Battery Works Ltd. incorporates the use of TDM in commercial size batteries, such as those used in hybrid electric vehicles. Lightyear purchased a hybrid electric Toyota Prius last year, and has been establishing performance baselines against which the TDM-enhanced battery packs can be compared.
Founded in 1999, Lightyear Technologies Inc. is a world leading developer of nanotechnology materials and applications. Lightyear’s proprietary Two Dimensional Material (TDMä ) represents a platform technology with wide-ranging commercial and environmental applications including catalysts, batteries for the electric and hybrid electric vehicle industry, hydrogen storage and novel water treatment solutions.
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