Tesla may need paid $3 for Canadian startup’s cleaner, cheaper battery patents

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Tesla could have bought a number of patents from a small Canadian startup outlining cleaner, extra reliable batteries for simply $3.

Documents obtained by TechCrunch reveal that Tesla acquired the patents from Canadian firm Springpower International. Following this report, the firm’s web site has gone almost solely clean and solely options the message “Questions?”

TechCrunch experiences that Tesla bought the patents solely two weeks earlier than its September 2020 Battery Day occasion. The public document associated to the acquisition states the next:

“Therefore, for $3.00 and good and valuable consideration, the receipt and sufficiency of which is hereby acknowledged, the parties agree as follows…”

One patent outlines a technique for recirculating the chemical options used to make lithium-ion batteries. Manufacturing the cathodes for EV batteries sometimes generates a big quantity of contaminated water, together with poisonous chemical substances, steel particles, and ammonia. This new system can be extra environmentally pleasant and environment friendly, based on the doc. Drew Baglino, Tesla’s senior vice-president of engineering, described an identical system on stage throughout Battery Day.

TechCrunch means that Tesla seemingly bought the startup outright and didn’t simply purchase its patents. For instance, a number of Springpower staff’ LinkedIn profiles point out that they now work at Tesla.

That mentioned, the electrical automobile big hasn’t revealed any new acquisitions.

During Battery Day, Tesla CEO Elon Musk revealed that the corporate’s developments within the battery area will permit it to promote a $25,000 USD (about $30,000 CAD) EV in roughly three years.

Source: TechCrunch 

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Written by Gideon


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