The Strategic Elements Ltd (ASX: SOR) share price is up after news the company’s self-charging batteries can now be made flexible.
The post The Strategic Elements (ASX:SOR) share price is riding on its latest news appeared first on The Motley Fool Australia. –
The Strategic Elements Ltd (ASX: SOR) share price is trading higher today after news the company’s self-charging batteries can be flexible. Its battery technology has been made into a flexible cloth, which can be bent without faulting.
The Strategic Elements share price opened up 3.57% today, trading at 44 cents. However, at the time of writing, the share price has retreated slightly and is currently trading for 42 cents, down 1.19%.
Let’s look further into this morning’s news from Strategic Elements.
The company announced it has made its self-charging batteries into a textile form. In this form, the batteries are put through their paces and can be bent without damaging the battery and causing minimal changes in voltage.
The company said bending strain often caused cracks on functional films, which tends to make flexible electronics malfunction. To make sure its self-charging batteries won’t crack, it was bent over 2000 times. It can bend up to a 6mm radius, which is smaller than the average adults’ finger.
Strategic Elements’ self-charging batteries work by using Battery Ink technology, receiving charge from the humidity in the air and on skin.
As the flexible battery can be charged with skin, it could be perfect for use in electronic skin patches and flexible electronics, said the company.
According to Strategic Elements, the electronic skin patch sector made US$10 billion in 2019. A figure that’s expected to quadruple by 2032.
In addition, Strategic Elements’ Battery Ink technology is being developed in collaboration with CSRIO and the University of New South Wales. It is also partially funded by a Federal Government grant.
The next step is to shrink the batteries. The company’s goal is to make the self-charging batteries 4 times smaller than existing battery ink cells.
Strategic Elements’ share price snapshot
Strategic Elements’ latest news is powering up its share price once more, adding to its fantastic year on the ASX. The company’s share price has currently risen by 81.25% year to date. It is also up 987.5% over the last 12 months.
The company has a market capitalisation of around $158 million, with approximately 378 million shares outstanding.
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The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.