The company’s paper-thin battery contains none of the toxic elements used in conventional batteries and its cutting edge carbon nanotube and cellulose-based technology makes it entirely biodegradable. Roughly 5 billion batteries are purchased in the U.S. alone, leaving 146,000 tons of battery waste behind. Given that the worldwide personal battery use is a growing $63 billion industry, the potential of this revolutionary non-toxic technology could be enormous.
In addition, there are reports that China, who accounts for more than 93 percent of production of rare earth metals, is planning to further restrict export quotas. Rare earth metals are vital to new technologies and clean energy applications including electric car batteries, wind turbines and low-energy light bulbs. Regardless of the possible exporting restrictions, demand for rare earth metals is rapidly outpacing supply and industry experts are predicting an annual shortfall by 2015.
Fraser Cottington, chief executive officer of Vendum Batteries, stated, “With a huge increase in demand for clean energy applications and the possibility of China shutting off further resources, Vendum is positioning itself to gain significant market share.” Mr. Cottington continued, “The industry outlook is appealing and we intend to capitalize on these strong growth prospects by offering a non-toxic, biodegradable alternative to rare earth metals.”
For more information, please visit www.vendumbatteries.com.