- Saint Jean Carbon (SJL) has acquired Solid Ultrabattery Inc. for an aggregate purchase price of C$1,320,000
- Dr. Zhongwei Chen, Canada Research Chair at the University of Waterloo, will be leading the R&D efforts at Solid Ultrabattery
- Saint Jean Carbon is a publicly-traded carbon science company
- Saint Jean Carbon Inc. (SJL) opened trading at $0.165 per share
Saint Jean Carbon (SJL) has completed the acquisition of Solid Ultrabattery Inc.
Solid Ultrabattery is a private Ontario-based company involved in the research and development of solid-state batteries.
Saint Jean funded the acquisition by issuing 22 million common shares at a price of $0.06 per share for an aggregate purchase price of C$1,320,000.
Dr. Zhongwei Chen, Canada Research Chair at the University of Waterloo, is a leading researcher in solid-state battery technology. His company, Solid Ultrabattery, is currently validating the technology as he continues to advance his formulations to commercialization. The goal is to develop a state-of-the-art battery design that exceeds the performance of existing technologies.
Dr. Chen was appointed to the Board of Directors of Saint-Jean on the closing of the acquisition and will continue to lead the research and development (R&D) efforts at SUB. Saint Jean Carbon, in close collaboration with Dr. Chen, is currently planning to commission a prototype battery R&D facility near the Waterloo region.
Saint Jean Carbon is a publicly-traded carbon science company, with specific interests in energy storage and green energy creation and green mining methods.
Saint Jean Carbon Inc. (SJL) opened trading at $0.165 per share.
