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Coretec Group Inc. (OTCMKTS:CRTG) Stock Consolidates: Company Submits Full Utility Patent

Ash K , , , ,

Shares of Coretec Group Inc. (OTCMKTS:CRTG) have been trading within a narrow range over the past few sessions.

Market Stats

On Monday, CRTG stock ended flat at $0.0475 with more than 81K shares, compared to its average volume of 242K shares. The stock moved within a range of $0.0440 – 0.0490 after opening trading at $0.0470.

The Coretec Group Files Full Utility Patent for Development of Advanced Silicon Anodes

The Coretec Group, Inc., (OTCMKTS:CRTG) has filed a full utility patent on their provisional patent for the development of advanced silicon anodes using cyclohexasilane (CHS) and other silanes. It has been filed on February 24, 2022, and builds on a provisional patent filed a year back.

The company, focused on developing engineered silicon and 3D volumetric displays, takes a major step by filing this utility patent – it protects their work on the battery initiative they embarked on last year. The application covers the use of CHS to produce a wide variety of silicon anodes for use in lithium-ion batteries.

According to CEO Matthew Kappers, this patent is necessary for protection while they work on developing the battery. Creating their own silicon anode is an important part of the process, in order to explore the use of CHS to develop a battery with excellent density and enhanced cycling stability.

All next-generation lithium-ion batteries need high energy and power density, quick charging, and ability to maintain long-term cycling stability. The key players in this industry are actively pursuing the use of silicon as material for an electrode, thanks to its natural abundance and capacity to store more lithium, as compared to conventionally used graphite.

Key Quote

“This patent provides us the necessary protection as we develop our battery,” said CEO Matthew Kappers. “Developing our own silicon anode is an essential component of our battery development. This initiative will explore the use of CHS to develop a battery with higher density and improved cycling stability.”

Traders Corner

CRTG stock is trading below the 20-Day and 50-Day Moving averages of $0.0506 and $0.0526 respectively. Moreover, the stock is trading below the 200-Day moving average of $0.0859.