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Platinum Group Metals Ltd. Subsidiary Lion Battery Technologies Granted Second US Patent New Provisional Patent Filed for PGMs in Lithium Batteries
Vancouver, British Columbia and Johannesburg, South Africa--(Newsfile Corp. - January 19, 2021...
About this update from Platinum Group Metals Ltd.
[{"type":"text","content":"Platinum Group Metals Ltd. Subsidiary Lion Battery Technologies Granted Second US Patent New Provisional Patent Filed for PGMs in Lithium BatteriesVancouver, British Columbia and Johannesburg, South Africa--(Newsfile Corp. - January 19, 2021) - Platinum Group Metals Ltd. (TSX: PTM) (NYSE American: PLG) (\"Platinum Group\" \"PTM\" or the \"Company\") and subsidiary Lion Battery Technologies Inc. (\"Lion\") reports that the U.S. Patent and Trademark Office has issued a second patent to Florida International University (\"FIU\") related to platinum group metals (\"PGMs\") being used in lithium batteries. Under a sponsored research agreement (\"SRA\"), Lion has exclusive rights to all technology being developed by FIU with Lion funding, including granted patents.The new patent, the second one granted to FIU relating to Lion's research, was issued on December 8, 2020 entitled \"Battery Cathodes for Improved Stability\" with patent number US 10,862,103 B2. The patent covers a preparation method using PGM catalysts in carbon materials for use as cathodes in lithium batteries, including lithium-ion, lithium-air, and lithium-sulfur batteries. The new patent broadens protection for US patent 10,734,636 B2 issued to FIU on August 4, 2020 covering the composition of carbon cathodes containing PGMs. Both patents are assigned to FIU and licensed by Lion.In addition to the above new patent, a further provisional patent application has also been filed for specific application of PGMs in most lithium batteries, including current lithium ion chemistries. As a result of the advancement in PGM battery research work conducted by FIU and Lion, the Company and Anglo American Platinum Limited, Lion's co-founder, have each approved additional investment in Lion. After this further investment, the Company will own a 53.7% interest in Lion.Dr. Bilal El Zahab, the project leader at FIU commented, \"We are pleased to receive the second, broader method patent for our research work and we are excited about our new innovations having potential application to most current, state of the art lithium ion battery chemistry on the market.\"R. Michael Jones CEO of Platinum Group said, \"PGMs have many applications in green technologies, including clean emissions equipment for internal combustion engines, hydrogen fuel cell applications for power generation in cars an...