KODK - Kodak invests in Wildcat Discovery Technologies developing EV super cell battery

• Eastman Kodak ( NYSE: KODK ) has acquired a minority stake in Wildcat Discovery Technologies, a technology company that uses proprietary high-throughput methods to rapidly develop new battery materials.
• Wildcat is developing a breakthrough EV “super cell” designed to provide a greater than 90% improvement in energy density over currently available best batteries.
• The company's investment will be used to support rapid development of the new technology, with the goal of having the “super cell” ready for commercialization in two years.
• The company will also provide coating and engineering services in collaboration with Wildcat to develop and scale film coating technologies.
• Wildcat has granted Kodak certain rights to negotiate a production or licensing arrangement with Wildcat when and if Wildcat’s technology reaches commercial readiness.
• “This investment in Wildcat reflects Kodak’s commitment to building new businesses by leveraging our existing skills and infrastructure. Coating substrates is a critical aspect of manufacturing batteries and no one is better at coating than Kodak,” said Jim Continenza, Kodak’s Executive Chairman and CEO. “We are excited about the opportunity to collaborate with an innovator like Wildcat to provide more powerful, safer solutions for applications such as energy storage and EV batteries and participate in this rapidly growing market.”
• Shares up 3.4% PM.

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