LEXINGTON,Mass.,Aug. 21,2024 -- CAMX Power LLC (CAMX) and Panasonic Energy Co.,Ltd. (Panasonic Energy),a Panasonic Group Company,announce that Panasonic Energy has taken a license from CAMX to the latest GEMX® platform of cathode active material for lithium-ion batteries.

The GEMX® platform is based on fundamental inventions of CAMX for which more than 30 patents have been granted globally,including the US,EU,Korea,Japan and China. The GEMX inventions,through molecular engineering,place cobalt,aluminum,etc. at the critical places of the cathode particles resulting in the use of less cobalt,yet with greater stability,higher performance and lower cost for all classes of nickel-based cathode materials including high-manganese. Its derivative products have been branded as gNMC®,gNMCA®,gNCA®,and gLNO®.

"Instead of attempting production ourselves,CAMX,through license agreements like these can have its inventions rapidly and more broadly come to market for the benefit of society," continued Sahin.

"With a 100-year history of innovation in batteries spanning battery cell technology and business operations,Panasonic Energy has been the power and the powerhouse behind EV and thus the key enabler of the EV revolution now rapidly spreading across the globe. The addition of the Kansas plant to the Sparks,NV gigafactory will keep Panasonic Energy as the premier cell maker," said Sahin,the president and founder of CAMX. "Cell costs account for a third of an EV cost and about half the cell cost is the cathode. Having Panasonic Energy add GEMX to its cathode choices is a great privilege for CAMX," continued Sahin.

About Panasonic Energy

Panasonic Energy Co.,Ltd.,established in April 2022 as part of the Panasonic Group's switch to an operating company system,provides innovative battery technology-based products and solutions globally. Through its automotive lithium-ion batteries,storage battery systems and dry batteries,the company brings safe,reliable,and convenient power to a broad range of business areas,from mobility and social infrastructure to medical and consumer products. Panasonic Energy is committed to contributing to a society that realizes happiness and environmental sustainability,and through its business activities the Company aims to address societal issues while taking the lead on environmental initiatives. For more details,please visithttps://www.panasonic.com/global/energy/

About CAMX Power

Headquartered near Boston,Massachusetts,CAMX Power LLCwww.camxpower.com developslithium-ion battery materials.Its flagship offer,globally patented GEMX Cathode Platform,reduces cobalt to less than 5%,improves performance,significantly enhancing emobility™and eportability™ energy storage offers by the major cell and material makers.With Panasonic Energy joining EcoPro BM,Umicore,L&F,LG Energy Solutions (LGES),EV Metals,and Samsung SDI as licensees of GEMX,this multi-product cathode platform has become more central to EV batteries.

For developmentCAMX operatesa material synthesis facility,a pilot plant for scalability,and advancedcell-making facilities. Its business and technology model is to mature early-stage technologies to be de-risked,IP-protected and scaled-up or scale up ready; then license them,with deep technology transfer,to large manufacturing partners for them to extend,make and sell these technologies,achieving greater,quicker impact for the betterment of society and the environment.

Media inquiries

CAMX Power

Terry Lundstrom

Terry@camxpower.com

+19784845000