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Lockheed Martin Enters Strategic Partnership with Elcora Advanced Materials to Support the Development of Li-Ion Anode Technology
Halifax, Nova Scotia--(Newsfile Corp. - November 29, 2017) - ELCORA ADVANCED MATERIALS CORP. ...
About this update from Elcora Advanced Materials Corp.
[{"type":"text","content":"Lockheed Martin Enters Strategic Partnership with Elcora Advanced Materials to Support the Development of Li-Ion Anode TechnologyHalifax, Nova Scotia--(Newsfile Corp. - November 29, 2017) - ELCORA ADVANCED MATERIALS CORP. (TSXV: ERA) (FSE: ELM) (OTCQB: ECORF), (the \"Company\" or \"Elcora\"), is pleased to announce it has signed a Memorandum of Understanding (MOU) agreement with Lockheed Martin Canada, which represents Lockheed Martin's first battery technology investment in Canada. This strategic partnership supports the growing energy demand for Lithium-Ion battery storage solutions applied to commercial, industrial, utility and military applications. As renewable energy capacity increases, so does the need for energy storage. The installation of renewable energy sources (e.g. solar and wind power) continues to grow and capturing energy when it's produced and releasing it when is needed can be challenging. To this end, many commercial, industrial, and utility customers are turning to Li-ion battery-based energy storage systems. These systems offer stable, reliable access to electricity while significantly reducing cost.Elcora is well positioned to take advantage of this expanding Li-ion battery market by offering high-quality graphite anode powder for use in Li-ion batteries. The graphite produced in Elcora's mine in Sri Lanka has been proven in several different Li-ion chemistries to offer both high power, and high energy capabilities at a competitive cost. The MOU formally establishes a working relationship and guidelines to support/identify opportunities within Lockheed Martin business units; including their energy division to assist in maximizing and achieving sales objectives.\"We are extremely pleased to announce this newly formed strategic partnership with Lockheed Martin. Lockheed Martin is a dominant leader in aerospace, defense, energy and advanced technologies with worldwide interests,\" said Troy Grant, CEO of Elcora Advanced Materials. \"Through this ongoing arrangement, Elcora will complement Lockheed Martin's global initiatives. We are grateful for this opportunity.\"\"Lockheed Martin Canada is pleased to support the initiatives of Elcora Advanced Materials,\" said Rosemary Chapdelaine, Vice-President and General Manager of Lockheed Martin Canada. \"The future of renewable energy is here and Elcora is leading th...