Coherent Commences Review of Strategic Alternatives for Its Lithium Sulfur Battery Platform
Coherent Corp. (NYSE: COHR) has announced a strategic review of its battery technology platform, which features innovative cathode, electrolyte, and cell technologies centered on sulfur immobilization. The platform has achieved industry-leading performance and is protected by 4 issued and 13 pending patents. The technology has received multiple funding awards from the U.S. Department of Energy Vehicle Technologies Office and IARPA. This review follows the company's strategic portfolio assessment completed in August. Coherent will not provide further updates until a material development occurs.
Coherent Corp. (NYSE: COHR) ha annunciato una revisione strategica della sua piattaforma tecnologica per batterie, che presenta innovative tecnologie per catodi, elettroliti e celle basate sull'immobilizzazione del zolfo. La piattaforma ha raggiunto prestazioni leader del settore ed è protetta da 4 brevetti rilasciati e 13 in attesa. La tecnologia ha ricevuto diversi premi di finanziamento dal U.S. Department of Energy Vehicle Technologies Office e IARPA. Questa revisione segue la valutazione strategica del portafoglio aziendale completata ad agosto. Coherent non fornirà ulteriori aggiornamenti fino a quando non si verificherà uno sviluppo significativo.
Coherent Corp. (NYSE: COHR) ha anunciado una revisión estratégica de su plataforma tecnológica de baterías, que cuenta con innovadoras tecnologías de cátodos, electrolitos y celdas centradas en la inmovilización de azufre. La plataforma ha logrado un rendimiento líder en la industria y está protegida por 4 patentes otorgadas y 13 pendientes. La tecnología ha recibido múltiples premios de financiamiento de la U.S. Department of Energy Vehicle Technologies Office y IARPA. Esta revisión se realiza después de la evaluación estratégica del portafolio de la empresa completada en agosto. Coherent no proporcionará más actualizaciones hasta que ocurra un desarrollo material.
Coherent Corp. (NYSE: COHR)는 황 고정화를 중심으로 한 혁신적인 음극, 전해질 및 셀 기술을 특징으로 하는 배터리 기술 플랫폼에 대한 전략적 검토를 발표했습니다. 이 플랫폼은 업계 최고의 성능을 달성했으며, 4개의 발급된 특허와 13개의 대기 중인 특허로 보호받고 있습니다. 이 기술은 미국 에너지부 차량 기술 사무소와 IARPA로부터 여러 차례 자금 지원을 받았습니다. 이번 검토는 8월에 완료된 회사의 전략적 포트폴리오 평가에 이어 진행됩니다. Coherent는 중요한 발전이 있을 때까지 추가 업데이트를 제공하지 않을 것입니다.
Coherent Corp. (NYSE: COHR) a annoncé un examen stratégique de sa plateforme technologique de batteries, qui comprend des technologies innovantes pour les cathodes, les électrolytes et les cellules centrées sur l'immobilisation du soufre. La plateforme a atteint des performances de pointe dans l'industrie et est protégée par 4 brevets délivrés et 13 en attente. La technologie a reçu plusieurs prix de financement de la U.S. Department of Energy Vehicle Technologies Office et IARPA. Cet examen fait suite à l'évaluation stratégique du portefeuille de l'entreprise, réalisée en août. Coherent ne fournira pas d'autres mises à jour jusqu'à ce qu'un développement significatif se produise.
Coherent Corp. (NYSE: COHR) hat eine strategische Überprüfung seiner Batterietechnologieplattform angekündigt, die innovative Kathoden-, Elektrolyt- und Zelltechnologien zur Immobilisierung von Schwefel umfasst. Die Plattform hat branchenführende Leistungen erzielt und ist durch 4 erteilte und 13 anhängige Patente geschützt. Die Technologie hat mehrere Förderpreise vom U.S. Department of Energy Vehicle Technologies Office und IARPA erhalten. Diese Überprüfung folgt auf die strategische Portfoliobewertung des Unternehmens, die im August abgeschlossen wurde. Coherent wird keine weiteren Updates bereitstellen, bis eine wesentliche Entwicklung eintritt.
- Platform has secured multiple DOE VTO and IARPA funding awards
- Strong intellectual property portfolio with 4 issued and 13 pending patents
- Technology has achieved industry-leading performance in sulfur cathode cells
- Strategic review could indicate potential divestment or restructuring of battery platform
- Company's silence on future updates until material development suggests extended period of uncertainty
Insights
The strategic review of Coherent's lithium sulfur battery technology platform represents a potential pivot point for the company's future direction. The technology's significance lies in its sulfur immobilization breakthrough, which has historically been a major challenge in battery development. With 4 issued and 13 pending patents, plus backing from significant government agencies like DOE VTO and IARPA, the intellectual property portfolio holds substantial value.
The timing of this strategic review, following their August portfolio assessment, suggests a broader corporate restructuring effort. The company's decision to explore alternatives could lead to various outcomes including licensing, joint ventures, or complete divestiture. The technology's potential applications in electric vehicles and energy storage make it an attractive asset for strategic buyers or partners in the rapidly growing battery sector.
PITTSBURGH, Oct. 28, 2024 (GLOBE NEWSWIRE) -- Coherent Corp. (NYSE: COHR), a global leader in materials, networking, and lasers, today announced that it is evaluating strategic alternatives for its battery technology platform.
The platform encompasses a suite of cathode, electrolyte, and cell technologies built around the breakthrough sulfur immobilization technology developed by Coherent over the past decade. Cells based on immobilized sulfur cathodes have achieved industry-leading performance, finally unlocking the potential of sulfur as a battery cathode. These innovations have been recognized with multiple funding awards from the U.S. Department of Energy Vehicle Technologies Office (DOE VTO) and the Intelligence Advanced Research Projects Agency (IARPA), and are protected by 4 issued and 13 pending patents.
The announcement is a result of the strategic portfolio assessment that the company completed in August of this year.
Interested investors are encouraged to contact Tim Challingsworth, Vice President, Strategy and Corporate Development at tim.challingsworth@coherent.com. The company does not anticipate making further public comments regarding this matter until a material development occurs.
About Coherent
Coherent empowers market innovators to define the future through breakthrough technologies, from materials to systems. We deliver innovations that resonate with our customers in diversified applications for the industrial, communications, electronics, and instrumentation markets. Coherent has research and development, manufacturing, sales, service, and distribution facilities worldwide. For more information, please visit us at coherent.com.
Media Contact:
Amy Wilson
Corporate Communications & Investor Relations
corporate.communications@coherent.com
FAQ
What is Coherent Corp (COHR) reviewing in its strategic alternatives announcement?
How many patents does Coherent (COHR) have for its battery technology?
Which government agencies have provided funding for Coherent's (COHR) battery technology?
When did Coherent (COHR) complete its strategic portfolio assessment?
