Minority stake in Wildcat Discovery Technologies reflects Kodak’s commitment to leveraging existing strengths to drive growth
ROCHESTER, N.Y.--(BUSINESS WIRE)--Jul. 13, 2022--
Eastman Kodak announced today it has taken a minority stake in Wildcat Discovery Technologies (Wildcat), 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 percent improvement in energy density over today’s best batteries, which could further accelerate the widespread adoption of EVs.
Kodak’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. Kodak has also entered into an agreement to provide coating and engineering services in collaboration with Wildcat to develop and scale film coating technologies which are critical for the safety and reliability of the next generation of EV battery technology. Wildcat has granted Kodak certain rights to negotiate a production or licensing arrangement with Wildcat when and if Wildcat’s technology reaches commercial readiness.
Kodak’s investment represents the continued expansion of our Advanced Materials & Chemicals group as we capitalize on our expertise in coating technology, developed over decades of film manufacturing, to pursue opportunities in the growing battery market. Over the past several years, Kodak has been using its pilot coating facility to coat materials on substrates for EV/energy storage batteries and fuel cells for a variety of customers. Kodak is expanding the capacity and capability of this pilot facility with a new small-scale coating machine that will be fully operational in early 2023. In addition, the Company has announced it has repurposed a full‐scale production coating machine to manufacture coated substrates for cathode and anode assembly in the EV/energy storage battery market. Kodak has begun providing coated material to a battery manufacturer and is in the process of ramping production levels, the maximum capacity of which is up to 80 million square meters per year.
“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.”
Kodak (NYSE: KODK) is a leading global manufacturer focused on commercial print and advanced materials & chemicals. With 32,000 patents earned over 130 years of R&D, we believe in the power of technology and science to enhance what the world sees and creates. Our innovative, award-winning products, combined with our customer-first approach, make us the partner of choice for commercial printers worldwide. Kodak is committed to environmental stewardship, including industry leadership in developing sustainable solutions for print. For additional information on Kodak, visit us at kodak.com, or follow us on Twitter @Kodak and LinkedIn.
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Kurt Jaeckel, Kodak, +1 585-490-8646, firstname.lastname@example.org