In a news release, blockchain and battery technology company Extreme Vehicle Battery Technologies Corp. (ACDC:CSE) announced that it has launched its "Battery Revival Program." The firm explained that the program will utilize its proprietary artificial intelligence (AI) technology on used batteries, which can then be repurposed and used in future applications including energy storage systems (ESS) and electric vehicles (EV).
Extreme Vehicle Battery Technologies noted that it is rolling out this new program at a point in time when the growth of electronic waste materials has become a major concern worldwide. The firm cited a report from Thomson Reuters that noted that e-waste reached a record 53.6 million tonnes in 2020 and is expected to increase by 100% over the next 30 years. The company also reported that only 17.4% of this waste is recycled according to a global e-waste report commissioned by the United Nations (U.N). The report from the U.N. went on to say that this "tsunami of e-waste" has made e-waste management a top priority as current disposal methods are unsustainable and are causing unmeasurable environmental damage.
The company advised that its AI driven technology allows it to carry out a rapid and proprietary testing program to quickly and thoroughly analyze used batteries which can then either be refurbished back to 100% or reused in future ESS production.
Extreme Vehicle Battery Technologies' President and CEO Bryson Goodwin stated, "Our patented and industry leading technology will allow us to refurbish and return to use used batteries, which could be a phenomenal win for efforts to reduce waste and curb the release of toxic components into the environment. We intend to apply or proprietary AI integrated BMS technology to manufacture and sell state-of-the-art ESS products."
"As the world is drowning in waste, we all need to look for better, safer and cleaner alternatives. The surge of electric vehicles is bringing with it a wave of used batteries. Most EV batteries are deemed non-functional when they lose functionality in 20% of their fuel cells. Think of the waste," Goodwin added.
EV Battery Technologies noted that in addition to the obvious benefits to the environment, the firm will be able to enjoy massive cost savings in producing ESS products. The company explained that the largest cost in ESS is the batteries, so by using recycled batteries it will achieve significant cost savings.
The company pointed out that its AI technology provides it with the capability to use recycled batteries in its own ESS manufacturing process which it turn will make it one of the industry's greenest battery technology companies.[NLINSERT]
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