Lithium Exploration Group to introduce new lithium battery technology to end fires and explosions like headset on flight to Melbourne
Friday, Mar 17, 2017
Lithium Exploration Group Inc. (USOTC: LEXG) announced that the company has a solution in the works that would put an end to the lithium battery fires made famous by the Galaxy 7 and reiterated in yesterday's headset explosion on a flight from Beijing to Melbourne. The technology is part of a portfolio of patented lithium related technologies to be acquired as part of an overall, comprehensive lithium solution. LEXG announced entering into a $1.2 million contract earlier this year to provide access to is Sonic Cavitation Technology as part of a full spectrum lithium solution ranging from exploration and mining to battery production. The patent portfolio acquisition is now pending legal review and finalization, having been through an intensive technology review.
"It is exciting that the acquisition of the portfolio we have reviewed is almost final. That piece is critical to the next steps in finalizing the licensing contract that we have been discussing for months," commented CEO Alex Walsh. "With the addition of the energy storage technology that we are working on from our end we are in advanced discussions with the IP acquisition partner about an expansion of the original $1.2M contract into a potential JV with our shareholders. We should have a lot more color on this by middle of next week and will update shareholders as details come to fruition."
For more information, please visit: http://lithiumexplorationgroup.com/