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Kodak Announces Investment in Company Developing EV “Super Cell” Battery
Rhea-AI Impact
(Neutral)
Rhea-AI Sentiment
(Very Positive)
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Rhea-AI Summary
Kodak has announced a minority investment in Wildcat Discovery Technologies, aimed at developing advanced battery materials. This collaboration will focus on a new "super cell" that promises over 90% improvement in energy density, potentially accelerating EV adoption. Kodak will also provide coating and engineering services to support Wildcat's technology commercialization in two years. Kodak is enhancing its pilot coating facility for EV batteries, with a production capacity of 80 million square meters annually. This move underlines Kodak's strategy to leverage its coating expertise in the growing battery market.
Positive
Kodak's minority investment in Wildcat could boost its portfolio in the battery sector.
Development of a "super cell" with 90% improvement in energy density may accelerate EV market growth.
Kodak's existing expertise in coating technology is being leveraged for battery production.
Kodak's pilot facility expansion with a new machine enhances production capacity to 80 million square meters per year.
Negative
None.
Minority stake in Wildcat Discovery Technologies reflects Kodak’s commitment to leveraging existing strengths to drive growth
ROCHESTER, N.Y.--(BUSINESS WIRE)--
Eastman Kodak announced today it has taken a minority stake in Wildcat Discovery Technologies (Wildcat), a technology company that uses proprietary high-throughput methods to rapidly develop new battery materials. Wildcat is developing a breakthrough EV “super cell” designed to provide a greater than 90 percent improvement in energy density over today’s best batteries, which could further accelerate the widespread adoption of EVs.
Kodak’s investment will be used to support rapid development of the new technology, with the goal of having the “super cell” ready for commercialization in two years. Kodak has also entered into an agreement to provide coating and engineering services in collaboration with Wildcat to develop and scale film coating technologies which are critical for the safety and reliability of the next generation of EV battery technology. Wildcat has granted Kodak certain rights to negotiate a production or licensing arrangement with Wildcat when and if Wildcat’s technology reaches commercial readiness.
Kodak’s investment represents the continued expansion of our Advanced Materials & Chemicals group as we capitalize on our expertise in coating technology, developed over decades of film manufacturing, to pursue opportunities in the growing battery market. Over the past several years, Kodak has been using its pilot coating facility to coat materials on substrates for EV/energy storage batteries and fuel cells for a variety of customers. Kodak is expanding the capacity and capability of this pilot facility with a new small-scale coating machine that will be fully operational in early 2023. In addition, the Company has announced it has repurposed a full‐scale production coating machine to manufacture coated substrates for cathode and anode assembly in the EV/energy storage battery market. Kodak has begun providing coated material to a battery manufacturer and is in the process of ramping production levels, the maximum capacity of which is up to 80 million square meters per year.
“This investment in Wildcat reflects Kodak’s commitment to building new businesses by leveraging our existing skills and infrastructure. Coating substrates is a critical aspect of manufacturing batteries and no one is better at coating than Kodak,” said Jim Continenza, Kodak’s Executive Chairman and CEO. “We are excited about the opportunity to collaborate with an innovator like Wildcat to provide more powerful, safer solutions for applications such as energy storage and EV batteries and participate in this rapidly growing market.”
About Kodak
Kodak (NYSE: KODK) is a leading global manufacturer focused on commercial print and advanced materials & chemicals. With 32,000 patents earned over 130 years of R&D, we believe in the power of technology and science to enhance what the world sees and creates. Our innovative, award-winning products, combined with our customer-first approach, make us the partner of choice for commercial printers worldwide. Kodak is committed to environmental stewardship, including industry leadership in developing sustainable solutions for print. For additional information on Kodak, visit us at kodak.com, or follow us on Twitter @Kodak and LinkedIn.
What is Kodak's recent investment in Wildcat Discovery Technologies about?
Kodak has taken a minority stake in Wildcat Discovery Technologies to support the development of new battery materials, including a breakthrough EV "super cell".
How will Kodak's investment impact the EV battery market?
Kodak's investment aims to enhance energy density in EV batteries, potentially accelerating their adoption in the market.
What technology is Kodak focusing on with Wildcat Discovery?
Kodak is focusing on coating and engineering services to develop and scale film coating technologies for EV batteries.
What is the production capacity of Kodak's pilot coating facility?
Kodak's pilot coating facility is capable of producing up to 80 million square meters of coated materials annually.
When is Kodak expecting commercialization of Wildcat's technology?
Kodak expects Wildcat's technology to be ready for commercialization within two years.
