Strategic Elements caps off another quarter of progress for its self-charging battery and detection technologies
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Venture technology firm Strategic Elements (ASX:SOR) was able to shrug off COVID-19 restrictions to make further progress on two of core tech platforms in the September quarter: Australian Advanced Materials, which focuses on self-charging battery technology and Stealth which focuses on robotics and automation technology.
Among a number of operational highlights, the company’s centrepiece achievement was the successful testing of its Battery Ink technology, which has potential to be used to extend the lives of batteries in wearable electronic devices.
Strategic Elements is hoping this technology can be a major disruptor to the wearable electronic devices market – specifically the skin patch segment – which is full of products with short battery lives.
The wearable electronics has taken off in recent years, becoming a US$10 billion market in 2019 and expected to be US$40 billion by 2030.
Strategic Elements was able to achieve these testing results despite the University of New South Wales, where it is working on Battery Ink, having restricted access due to Sydney’s lockdown.
But managing director Charles Murphy told shareholders restrictions have eased in recent days and this will be positive for the company.
“This will enable us to increase resources available to the development team for the Q4 milestone, allow us to further enhance our printing capabilities and investigate the performance of an expanded range of battery ink cells for applications in addition to electronic skin patches,” he said.
The company’s other major business is Stealth Technologies, which specialises in autonomous vehicles and the development of advanced detection systems.
The company’s product suite includes a sophisticated sensor system that targets the elimination of weeds to improve agriculture processes. It is also being used to detect and sense chemical, biological, radiological and nuclear agents for defence applications.
In July, it signed a collaboration with Defence Science Technology Group (DSTC) – part of the Australian Department of Defence – and the University of Western Australia to build an autonomous drone carrying vehicle and conduct a live demonstration to the army.
But Stealth isn’t completely turning its back on weed detection.
The company also successfully improved the hardware and software components of its technology, reducing the size and weight of sensors which would enable it to be used on a broader range of farm equipment.
Strategic Elements finished the quarter with $6.9 million in cash and although it had net expenditure of $1 million, it only incurred $25,000 in direct costs on its battery technology thanks to a collaborative grant.
Shares in the company are up by nearly 90% in the last 12 months.
This article was developed in collaboration with Strategic Elements, a Stockhead advertiser at the time of publishing.
This article does not constitute financial product advice. You should consider obtaining independent advice before making any financial decisions.