STI) Prepared to Secure the US EV Battery Supply Chain

Nubia Brand International Corp. Completes Merger with Honeycomb Battery Company ; New Company to Be Renamed Solidion Technology Inc.

Solidion Technology Inc (NASDAQ:STI)

DALLAS, TEXAS, UNITED STATES, February 5, 2024 /EINPresswire.com/ — In a groundbreaking move, Solidion Technology, Inc. has emerged as a key player in the battery industry through a strategic merger of Honeycomb Battery Co. (HBC) and Nubia Brand International (Nubia), a special purpose acquisition company (SPAC). HBC’s cofounders began the journey of developing new battery technologies in 2006 and established HBC in 2015, which became a fully-owned subsidiary of Global Graphene Group (G3) in 2016. HBC was carved out from G3 and combined with Nubia on February 2, 2024.

Solidion has an impressive intellectual property portfolio, holding over 525 patents globally, with 355 in the United States and 170 in various foreign jurisdictions. This strategic portfolio of patents, covers key technologies for next-generation batteries for electric vehicles (EV) and energy storage systems (ESS). Notably, Solidion gained recognition by winning the prestigious R&D100 award in 2018 for their Silicon Anode Material, a testament to their innovation.

The extensive battery IP portfolio uniquely positions Solidion to provide a diverse range of advanced battery materials. Solidion’s anode material offerings span from sustainable graphite to silicon oxide (SiOx), silicon (Si), and protected lithium metal anode, delivering specific capacities ranging from 300 to an extraordinary 3,500+ mAh/g (milliamp-hour per gram). This comprehensive capability strengthens Solidion’s status as currently the sole North American company capable of providing such a wide range of cutting-edge anode materials.

Additionally, Solidion’s expertise in solid-state batteries has positioned the company as one of the top two US leaders in solid-state electrolytes, according to a KnowMade Report in December 2021. Solidion is further recognized as a top startup in the lithium-ion battery silicon anode space, as indicated in a KnowMade report in April 2022. This remarkable evolution continues with the company achieving the number one rank in the world for sodium-ion battery IP value, surpassing major competitors, according to a 2023 Nikkei Economics report.

Solidion expects to be in a position to provide solid-state batteries that can be manufactured at scale using current lithium-ion cell production facilities. This all-solid-state battery platform technology is well-positioned to help transform the EV battery space into a solid-state battery industry. Solidion batteries are designed to deliver significantly extended EV range, improved battery safety, lower cost per KWh, fastest time-to-market, and next-gen cathodes (potential to replace expensive nickel and cobalt with sulfur (S) and other more abundant elements).

Solidion is a convergence of innovation, strategic vision, and a commitment to shaping the future of energy storage. With a rich history and a forward-looking approach, Solidion is set to play a pivotal role in the evolution of battery technologies, offering innovative solutions to power a sustainable world.

About Solidion Technology, Inc.

Headquartered in Dallas, Texas with production facilities in Dayton, Ohio, Solidion’s core business includes manufacturing of battery materials and components, as well as development and production of next-generation batteries for energy storage systems and electric vehicles for ground, air, and sea transportation. For more information, visit www.solidiontech.com.

Cautionary Statement Regarding Forward-Looking Statements

This press release contains certain forward-looking statements within the meaning of the federal securities laws, which generally are identified by the words “believe,” “project,” “expect,” “anticipate,” “estimate,” “intend,” “strategy,” “future,” “opportunity,” “plan,” “may,” “should,” “will,” “would,” “will be,” “will continue,” “will likely result,” and similar expressions. Forward-looking statements are predictions, projections, and other statements about future events that are based on current expectations and assumptions and, as a result, are subject to risks and uncertainties. Many factors could cause actual future events to differ materially from the forward-looking statements in this document, including but not limited to: (i) the lack of a third party valuation in determining to pursue the transaction, (ii) the effect of the announcement or closing of the transaction on Solidion’s business relationships, operating results and business generally, (iii) risks that the transaction disrupts current plans and operations of Solidion and potential difficulties in Solidion employee retention as a result of the transaction, (iv) the outcome of any legal proceedings that may be instituted against Solidion, Honeycomb or Nubia related to the transaction, (v) the ability to maintain the listing of Solidion’s securities on a national securities exchange, (vi) volatility of the price of Solidion’s securities due to a variety of factors, including changes in the competitive and highly regulated industries in which Solidion operates, variations in operating performance across competitors, changes in laws and regulations affecting Solidion’s business and changes in the combined capital structure, (vi) the ability to implement business plans, forecasts, and other expectations after the completion of the transaction, and identify and realize additional opportunities, and (vii) the risk of downturns and a changing regulatory landscape in the highly competitive EV battery industry. The foregoing list of factors is not exhaustive. You should carefully consider the foregoing factors and the other risks and uncertainties described in the “Risk Factors” section of Nubia’s definitive proxy statement filed with the SEC November 8, 2023, and other documents filed by Solidion from time to time with the SEC. These filings identify and address other important risks and uncertainties that could cause actual events and results to differ materially from those contained in the forward-looking statements. Forward-looking statements speak only as of the date they are made. Readers are cautioned not to put undue reliance on forward-looking statements, and Solidion assumes no obligation and does not intend to update or revise these forward-looking statements, whether as a result of new information, future events, or otherwise. Solidion does not give any assurance that it will achieve its expectations.

Jaymes Winters
Solidion Technology Inc
+1 972-918-5120
[email protected]
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