Vancouver, BC, Canada, March 22, 2023 (GLOBE NEWSWIRE) -- First Tellurium Corp. (CSE: FTEL, OTC: FSTTF) (the “Company” or “First Tellurium”), reports that increasing incidents of lithium-ion battery fires, including a recent five-alarm fire in New York City caused by an electric bicycle battery, are reinforcing the need for solid-state, lithium-tellurium (LiTe) batteries that are far safer and do not catch fire. The new LiTe batteries are under development by First Tellurium strategic partner Fenix Advanced Materials and the University of British Columbia Okanagan (UBCO), and were featured in a Global TV News segment in early 2022.
NBC News noted that firefighters throughout the U.S. are expressing concern about the increasing number of fires due to lithium-ion batteries. Philadelphia Fire Commissioner Adam Thiel stated that firefighters have their hands full with the emergence of lithium-ion battery fires.
“It’s not just the ignition source (the batteries), it’s also the fuels,” said Thiel. “We are really concerned. These types of fires burn hotter and faster than ever before. It’s not just exponential growth, it’s logarithmic growth.”
As a result of the New York fire, city Mayor Eric Adams signed new safety standards for lithium-ion batteries into law on March 20. Earlier this month, Congressman Ritchie Torres announced a new bill mandating federal safety standards for lithium-ion batteries.
"These (fires) are extremely dangerous,” said Mayor Adams, “and I'm really calling on our national government to look at how do we restrict the sales of these batteries.”
Along with the LiTe battery’s far higher charging capacity, much smaller size and battery life up to 400% that of lithium-ion batteries, a key advantage of LiTe batteries is their safety.
“Lithium-tellurium batteries are ultra-safe,” said Don Freschi, CEO of Fenix Advanced Materials. “One version of our newest lithium-tellurium battery use a gel polymer electrolyte, which eliminates the flammable liquid organic electrolyte used in most EV lithium batteries.”
UBC Okanagan Principal’s Research Chair in Energy Storage Technologies Dr. Jian Liu, stated, “All-solid-state, lithium-tellurium batteries enable higher energy output with an improved safety rating inside a smaller form-factor, thereby expanding its possible applications.”
Liu added, “The high purity of the tellurium along with the mineral’s overall attributes makes it ideal as a rechargeable battery material.”
“We continue to see tellurium’s value as a critical metal reinforced,” said First Tellurium President and CEO Tyrone Docherty. “As the New York fire shows, it’s not just electric vehicle batteries catching fire. Making batteries that are safer, more powerful and longer lasting opens up many new applications on the horizon.”
About First Tellurium Corp.
First Tellurium’s unique business model is to generate revenue and value through mineral discovery, project development, project generation and cooperative access to untapped mineral regions in Indigenous territory with sustainable exploration.
Our Klondike tellurium-gold property in Colorado and polymetallic Deer Horn Project in British Columbia anchor a diversified search for metals, working in alliance with Indigenous peoples, NGOs, governments and leading metals buyers. This is the future of mineral exploration—generating revenue by exploring responsibly and leveraging diverse partnerships.
First Tellurium proudly adheres to, and supports, the principles and rights set out in the United Nations Declaration on the Rights of Indigenous Peoples and in particular the fundamental proposition of free, prior and informed consent. First Tellurium is listed on the Canadian Stock Exchange under the symbol “FTEL” and on the OTC under the symbol “FSTTF”. Further information about FTEL and its projects can be found on www.firsttellurium.com.
On behalf of the board of directors of First Tellurium Corp. “Tyrone Docherty” Tyrone Docherty President and CEO | For further information please contact: Tyrone Docherty 604.789.5653 tyrone@firsttellurium.com |
| Twitter: https://twitter.com/TelluriumCorp |
Neither the Canadian Securities Exchange nor its regulations services accept responsibility for the adequacy or accuracy of this release.
Forward-looking information
All statements included in this press release that address activities, events or developments that the Company expects, believes or anticipates will or may occur in the future are forward-looking statements. These forward-looking statements involve numerous assumptions made by the Company based on its experience, perception of historical trends, current conditions, expected future developments and other factors it believes are appropriate in the circumstances. In addition, these statements involve substantial known and unknown risks and uncertainties that contribute to the possibility that the predictions, forecasts, projections and other forward-looking statements will prove inaccurate, certain of which are beyond the Company’s control. Readers should not place undue reliance on forward-looking statements. Except as required by law, the Company does not intend to revise or update these forward-looking statements after the date hereof or revise them to reflect the occurrence of future unanticipated event.
