2023 Target Achieved and Record Milestone in our Lithium Metal Battery Development

The battery pouch cells were manufactured using the Company's proprietary technology, which incorporates composite electrolytes to enhance cycle life and battery stability. These cells were assembled with the Company's custom electrolytes and membranes, combined with the high-energy cathode NMC811 and lithium metal, resulting in fabrication of the advanced battery cells.

In summary, the lithium metal pouch cells have demonstrated substantially improved performance with 370 cycles at nearly 100% capacity. These results significantly surpass the previous findings from coin cell data, which showed 400 cycles at 81.8% capacity and were reported earlier this year.