Safire and Oak Ridge National Laboratory Enter Exclusive Licensing Agreement To Commercialize Breakthrough Battery Safety Technology

Safire Technology Group, Inc. (Safire), a venture-backed company developing
and manufacturing Lithium-ion (Li-ion) battery safety technology announced
it has signed an exclusive licensing agreement with Oak Ridge National
Laboratory (ORNL). Under the agreement, Safire has the exclusive right to
commercialize the ORNL-invented breakthrough battery technology, SAFe Impact
Resistant Electrolyte (SAFIRET), the world’s first patented and proprietary
drop-in safety additive for Li-ion batteries.

SAFIRE is a revolutionary drop-in electrolyte additive for Li-ion batteries
that prevents fire and explosion by automatically transforming the liquid
electrolyte to a solid state instantaneously upon kinetic impact, such as an
electric vehicle crash. The additive provides a safe, low-cost solution for
electric vehicles, electric Vertical Takeoff and Landing (eVTOL) aircrafts,
and defense equipment, resulting in increased safety and stability, higher
performance, and projectile and ballistic protection.

“SAFIRE will transform the car industry, particularly as we pivot towards
electric vehicles,” said John Lee, co-founder and CEO, Safire. “The additive
is easy to add to any existing battery-making process and provides users
with a safer alternative that is lighter and more effective than
conventional battery protection, resulting in higher performance and lower
total cost of ownership.”

“Today’s announcement further strengthens our long-term collaboration with
ORNL and allows us to begin commercial testing,” added Mike Grubbs,
co-founder, Safire. “We are also exploring new partnerships and identifying
prototyping opportunities with automotive, e-bike, and eVTOL manufacturers.”

The collaboration between Safire, formerly known as BTRY, and ORNL is mutual
and ongoing. Originally developed by Gabriel Veith and his colleagues at
ORNL through initial funding from the U.S. Government (ARPA-E), Safire was
formed as a direct result of these efforts and a commercialization
initiative launched by Fedtech. Through its agreement with ORNL, Safire has
received exclusive authorization on five patents to begin commercial sales
of the technology.

“Seeing a technology grow from a seed project through invention, patenting,
development and licensing is fulfilling and an honor for our team,” said
Mike Paulus, director of technology transfer, ORNL. “We look forward to
working with Safire through the prototype process and into manufacturing.”

To learn more about Safire and its relationship with ORNL, please visit
safire.co. Parties interested in testing the technology or partnering with
Safire should email partnerships@safire.co.

ORNL is managed by UT-Battelle on behalf of the U.S. Department of Energy.

ABOUT SAFIRE TECHNOLOGY GROUP, INC

Safire Technology Group, Inc. (Safire) is a venture-backed company
developing batteries that help prevent fire and explosion in kinetic
impacts, such as electric vehicle crashes. The company’s core technology,
SAFe Impact Resistant Electrolyte (SAFIRE), is the world’s first patented
and proprietary drop-in additive for Lithium-ion batteries that prevents
fire and explosion through an instantaneous liquid-to-solid transformation
upon kinetic impacts, such as electric vehicle crashes. Safire has been
awarded an exclusive license to five patents to date through its partnership
with the technology’s inventor, Oak Ridge National Laboratory. Learn more at
safire.co and follow the company on LinkedIn.