Honeycomb Battery Company and Nubia Brand International Corp. Announce Closing of Business Combination

DALLAS, TX., Feb. 02, 2024 (GLOBE NEWSWIRE) — Honeycomb Battery Company (“Honeycomb”), a leading battery materials supplier, today announced the completion of its previously announced business combination with Nubia Brand International Corp. (“Nubia”), a special purpose acquisition company led by an African-American/Latino sponsor group. The transaction was approved at a special meeting of Nubia’s stockholders on December 14, 2023.

Upon the completion of the business combination, the combined company was renamed Solidion Technology Inc. (“Solidion”). Beginning on Monday, February 5, 2024, Solidion’s common stock is expected to begin trading on the NASDAQ Global Market under the new ticker symbol “STI.”

Dr. Bor Jang, the Executive Chairman of Solidion, commented: “Today represents a momentous achievement for our company. Having developed a cost-effective process for mass-manufacturing green graphite anode materials from sustainable biomass sources, Solidion’s years of in-depth R&D and manufacturing experience in graphite and other anode and cathode materials put it in a unique position to capitalize on the rapidly changing EV battery materials market. As a public company with enhanced access to capital, we plan to continue building on our extensive battery IP portfolio to further expand the range of advanced battery materials we offer and help transform the EV battery space into a solid-state battery industry.”

Jaymes Winters, the Chief Executive Officer of Solidion, added: “We believe Honeycomb’s track record of performance and expertise in battery technologies, combined with the investment by Nubia and the continued acceleration of the EV battery market, will allow Solidion to extend its leading industry position, and we are looking forward to seeing what we can accomplish in this new phase of the company’s existence.”


Arbor Lake Capital Inc. served as financial and capital markets advisor to Honeycomb. Benesch, Friedlander, Coplan & Aronoff LLP is serving as legal counsel to Honeycomb.

EF Hutton LLC, is serving as capital markets advisor to Nubia. Loeb & Loeb LLP is serving as legal counsel to Nubia.

About Solidion Technology, Inc.

Headquartered in Dallas, Texas with production facilities in Dayton, Ohio, Solidion’s core business includes manufacturing of battery materials and components, as well as development and production of next-generation batteries for energy storage systems and electric vehicles for ground, air, and sea transportation. Recognized as a global IP leader in both the high-capacity anode and the high-energy solid-state battery, Solidion is uniquely positioned to offer two lines of battery products: (i) advanced anode materials (ready for production expansion); and (ii) three classes of solid-state batteries, including Silicon-rich all-solid-state lithium-ion cells (Gen 1), anodeless lithium metal cells (Gen 2), and lithium-sulfur cells (Gen 3), all featuring an advanced polymer- or polymer/inorganic composite-based solid electrolyte that is process-friendly. Solidion’s solid-state batteries can be manufactured at scale using current lithium-ion cell production facilities; this feature enables fastest time-to-market of safe solid-state batteries. Solidion batteries are designed to deliver significantly extended EV range, improved battery safety, lower cost per KWh, fastest time-to-market, and next-gen cathodes (potential to replace expensive nickel and cobalt with sulfur (S) and other more abundant elements). For more information, visit

Cautionary Statement Regarding Forward-Looking Statements

This press release contains certain forward-looking statements within the meaning of the federal securities laws with respect to the proposed transaction between Honeycomb and Nubia. These forward-looking statements generally are identified by the words “believe,” “project,” “expect,” “anticipate,” “estimate,” “intend,” “strategy,” “future,” “opportunity,” “plan,” “may,” “should,” “will,” “would,” “will be,” “will continue,” “will likely result,” and similar expressions. Forward-looking statements are predictions, projections, and other statements about future events that are based on current expectations and assumptions and, as a result, are subject to risks and uncertainties. Many factors could cause actual future events to differ materially from the forward-looking statements in this document, including but not limited to: (i) the lack of a third party valuation in determining to pursue the transaction, (ii) the effect of the announcement or closing of the transaction on Solidion’s business relationships, operating results and business generally, (iii) risks that the transaction disrupts current plans and operations of Solidion and potential difficulties in Solidion employee retention as a result of the transaction, (iv) the outcome of any legal proceedings that may be instituted against Honeycomb or against Nubia related to the transaction, (v) the ability to maintain the listing of Solidion’s securities on a national securities exchange, (vi) volatility of the price of Solidion’s securities due to a variety of factors, including changes in the competitive and highly regulated industries in which Solidion operates, variations in operating performance across competitors, changes in laws and regulations affecting Solidion’s business and changes in the combined capital structure, (vi) the ability to implement business plans, forecasts, and other expectations after the completion of the transaction, and identify and realize additional opportunities, and (vii) the risk of downturns and a changing regulatory landscape in the highly competitive EV battery industry. The foregoing list of factors is not exhaustive. You should carefully consider the foregoing factors and the other risks and uncertainties described in the “Risk Factors” section of Nubia’s definitive proxy statement filed with the SEC November 8, 2023, and other documents filed by Solidion from time to time with the SEC. These filings identify and address other important risks and uncertainties that could cause actual events and results to differ materially from those contained in the forward-looking statements. Forward-looking statements speak only as of the date they are made. Readers are cautioned not to put undue reliance on forward-looking statements, and Solidion assumes no obligation and does not intend to update or revise these forward-looking statements, whether as a result of new information, future events, or otherwise. Solidion does not give any assurance that it will achieve its expectations.

Solidion Technology, Inc. Contacts

For Investors

[email protected]

For Media

[email protected]

Honeycomb Generates Buzz via SPAC Merger

Honeycomb Generates Buzz via SPAC Merger

SPACs are back with a flurry of activity. Among the latest deals, Global Graphene Group announced that its subsidiary Honeycomb Battery Company will be taken public via a $700 million merger with a SPAC named Nubia Brand International Corp. The combined company will be listed on the NASDAQ.

Honeycomb aims to capitalize on the exponential growth in demand for batteries to power electric vehicles. According to the joint press release, “HBC is excited to have this opportunity to move forward and expand the production of silicon-rich anode materials that will greatly improve the driving range of EVs. HBC is ranked among the best in silicon-anode IP and among the global leaders in solid-state battery IP; we plan to quickly move forward with its full-scale commercialization. Our goal is to enable EVs to drive farther, charge faster, operate safer, and cost less.”

According to the MIT Technology Review, “Every year the world runs more and more on batteries.” Last year, electric vehicles surpassed 10% global vehicle sales and are projected to account for 30% by the end of 2029. Demand for batteries mirrors this explosive growth.


While traditional lithium-ion batteries have been around since the 1990s and currently dominate the industry, Honeycomb seeks to rethink their makeup in order to improve their performance while reducing costs.

Honeycomb seeks to accomplish this via two different technological advancements. First, while traditional lithium-ion batteries rely on a liquid electrolyte to move charge, companies are developing solid-state batteries that instead use ceramics and other solid materials. If successful, these solid-state batteries not only store more energy in smaller spaces but also charge faster. Proponents of solid-state batteries also claim that they are safer because they avoid the flammable solvents of traditional batteries.

Second, Honeycomb is also pursuing an alternative to lithium-ion batteries’ use of graphite to hold the ions: silicon. Proponents of silicon anodes claim they charge faster and enjoy higher energy density.


The U.S. Federal Government has sought to bolster such companies’ endeavors. Specifically, the Inflation Reduction Act of 2022 budgeted approximately $370 billion for green energy and climate, of which billions are targeted at battery manufacturing. The Act is expected to provide grants and loans for US-based battery manufacturers while also using tax credits to steer automakers to source batteries and materials from US companies. “New battery technology breakthrough is happening rapidly,” reports S&P Global. According to Matterhorn’s comprehensive M&A database, which harnesses AI to track current and historical deals, Honeycomb is represented by law firm Benesch Friedlander Coplan & Aronoff LLP and financial adviser Arbor Lake Capital Inc. The SPAC Nubia Brand International is advised by Loeb & Loeb LLP.

5G is Here. Are You Ready?

Consumer electronics, especially cell phones, are a normal part of our daily lives. Most people depend on their cell phone, tablets, laptops and more to manage their work and personal lives. We use these devices to stay connected to our family and friends, now more than ever before. And graphene can give those devices a longer, safer battery life, to keep you connected to what matters most to you.

Have you ever noticed that your electronics tend to heat up with extended use? For example, if you’re talking on your phone long enough, your phone will start to get hot. That’s the battery inside your device working hard. 5G technology will put even more of a strain on your devices since it will enable you to run larger applications with faster speeds. Your poor device battery will overheat fast.

Graphene can eliminate that issue. A thin layer of graphene incorporated into your device’s battery will keep the battery cool. And that will keep your device safe. Take a look at this video we filmed using our graphene-enabled solutions for device batteries. In this video, we put an everyday nail through a lithium-ion battery, typically used in cell phones. The battery quickly ignites. Then we show the same nail penetrating a lithium-ion battery that includes a layer of our FireShield™ electrolyte technology, which does not ignite the battery. FireShield makes the battery safe.

Our graphene-enabled battery solutions also work to extend the battery life of your devices, and allow them to quickly recharge. Goodbye waiting around for your cell phone to recharge! Quick recharge times mean less electricity is used to charge your devices, helping the environment. Our solutions make your devices more user friendly, and so much safer.

Let’s talk about our graphene-enabled battery solutions and how we can improve consumer electronics.

Free Webinar 10/8 Discussing Latest Si-Anode EV Battery Technology

Did you watch the recent Battery Day event and hear about the latest EV battery technology? Global Graphene Group, an expert in  next-generation battery solutions, wants to share our thoughts on the event and where we see the EV battery market heading.

Join G3’s CEO and co-founder, Dr. Bor Jang, next Thursday, October 8, at 2 p.m. for a free webinar. He will discuss G3’s latest patent awarded for elastic anode battery materials (G3 Elastic polymer-coated Si -9-30-20), as well as our suite of EV battery solutions. Dr. Jang will hold a Q&A session at the end of the webinar. Don’t miss your opportunity to gain insights from one of the industry’s pioneers and experts in battery technology! Register today:

Global Graphene Group Awarded Patent on Elastic Anode Battery Materials

DAYTON, OH, September 30, 2020 – Global Graphene Group (G3), a Dayton, Ohio-based materials science company, was recently awarded a US Patent that is in-line with leading EV OEM technical solution roadmaps. G3’s patent for its elastomer-encapsulated particles of high-capacity anode active materials for lithium batteries (US Patent No. 10,734,642 (08/04/2020)) covers essentially any high-elasticity and ion-conducting polymer for lithium-ion battery anode applications.

G3 plans to capitalize on the explosive growth in EV battery development and is expanding production of its silicon-based anode materials.

G3’s expansion supports the industry’s need for better battery solutions recently discussed by a leading EV OEM. G3’s focus on silicon anodes will drive significant improvements in lithium-ion batteries. Industry-leading EV OEMs indicate elastic and ion-conducting polymer-encapsulated Si technology will be needed to drive EV battery technology that will lower cost and provide higher energy density, extending the EV driving range by 20%. G3’s innovative Si anodes can deliver this and more today as a drop-in technology. Furthermore, G3’s entire suite of battery-enabling technologies can deliver driving range improvements of 50-100% at significant cost savings.

G3 has developed the anode materials that precisely meet battery requirements for next-generation EV batteries as outlined by the industry. G3 is actively seeking to establish partnerships for expanding manufacturing capacity of its advanced anode materials.

Leading EV OEMs are focusing on silicon anodes that have the following features:

  • Low-cost Si particles
  • Elastic, ion-conducting polymer coating on these Si particles
  • Highly elastic binder used in the anode to maintain electrode structural integrity.

“G3’s Si-anode technology meet these criteria,” said Dr. Bor Jang, G3 CEO and co-founder. “Recent announcements by EV OEM’s validate that G3’s Si-anode solutions will be a key enabler for next-generation EV batteries. Our team is excited that the EV industry is focused on the same critical path as we see as foundational using Si-anode improving EV batteries.”

“Electric vehicles will continue to grow global market share over the next decade,” said Adam Quirk, G3 VP of Business Development. “Our EV battery technology, including Si-anode, are very attractive to EV manufacturers. It’s a drop-in solution that can easily be incorporated into existing manufacturing processes. We are engaged with many top-tier OEMs who are now validating our solutions.”

G3 is holding a free webinar on Thursday, October 8 at 2 p.m. Eastern to discuss this and other battery technologies for EVs and the direction of the EV battery market. Registration is open for the webinar online:

Recently, industry leaders stated that the anode material cost could be dropped to $1.20 a kilowatt hour by using new surface stabilization and elastic binder approaches (88% reduction in the anode material cost). G3’s innovative solutions start with silicon and stabilize it with an elastic, ion-conducting polymer that integrates into the electrode with an elastic binder. G3 has the most significant intellectual properties (IPs) in high-capacity anode materials with 80+ US patents (issued or pending), 35 of which are specifically directed at elastic ion-conducting polymer coatings and binders.

The most commonly used material for lithium-ion batteries today is graphite. However, graphite can only store lithium up to 372 mAh/g during a battery charge. In contrast, Si can store lithium up to an amount of 4200 mAh/g), significantly increasing energy density.

About Global Graphene Group
Global Graphene Group, Inc. (G3) is a leading material science and product solutions company focused on graphene and advanced battery technologies. It has an award-winning, best-in-class intellectual property portfolio with more than 470 US patents and applications. In addition, G3 holds many of the world’s firsts in graphene-related breakthroughs that have resulted in cutting edge products. G3, headquartered in Dayton, Ohio, is the holding company for a variety of subsidiaries. Taiwan Graphene Company is the largest volume producer of single-layer graphene globally. It is focused on high volume production of graphene raw materials, enhanced thermal interface materials (films, pastes, inks), and nanocomposite products (both thermoplastics and thermosets). Honeycomb Battery Company is focused on commercializing next generation lithium ion battery electrodes, battery performance solutions enhanced with graphene, and improved battery reliability performance. It produces graphene-wrapped or elastomer-encapsulated nano silicon particles to improve anode stability, prelithiation to reduce capacity loss, significant cost reduction in cost of goods, and has the world’s largest high-capacity silicon anode production line in the US.

Media Contact:
Amy Maggart – Corporate Communications Administrator
Global Graphene Group
Tel: (937) 751-6784
[email protected]


The Quest for the Million Mile EV Battery is Heating Up

Today is Tesla’s first annual Battery Day. It’s a day to focus on EV technology and what’s next in advancing it towards widespread consumer adoption. We’ve been focusing on how to maximize today’s EV batteries to make them high density, quick charge, affordable and safe for years. At Global Graphene Group, we know that EVs are the future, and our drop-in graphene-enhanced solutions can help EV manufacturers improve their battery function, today.

Elon Musk, Tesla’s CEO, tweeted yesterday that today’s Battery Day announcements will include news on long-term manufacturing of EV’s, including semis, cybertrucks and a roadster.

A leak surfaced recently that a larger cell will be announced during today’s Battery Day. The rumored 4070 cell would be used in batteries for electric semi and cybertrucks. No matter which size the battery cell will be, the heat dissipation will be a more serious problem than the current 2170 cell because heat will need to travel at least twice the distance from the core of the cell.

Heat can be a big spoiler for the EV batteries companies like Tesla are banking on. Heat builds up when batteries are super charged and under continuous driving conditions. That’s exactly what online leaks suggest Tesla has planned with batteries for semi and cybertrucks. While it makes sense to prioritize these types of vehicles in terms of their environmental impact, having delivery trucks and freight carriers with massive batteries driving continuously add up to a potential power disaster.

There’s already evidence of EV batteries losing their power density and becoming unsafe in high heat areas – think Arizona, Texas, Nevada and other areas of the country that tend to heat up. In some of these areas, they experience more than five days per year with temperatures climbing over 100°F. Much of the country experiences temperatures above 80°F throughout the summer months. Those high temps can decrease the battery life dramatically. Lithium-ion batteries have a decreased lifespan under high and continuous heat situations. Vehicles that are heavily used throughout the day with little break and ones driving in tropical weather areas are affected.

Specifically, the corrosion reactions between the battery’s electrolyte and the current collector can be very serious above 113°F. And that is why many EV owners observed reduced charging current when their battery pack reached 113°F during fast-charging in order to prevent the damage. Research shows even just parking outside when the ambient temperature is above 90°F can permanently damage the EV battery. E-trucks are supposed to run for hours continuously every day which will damage the battery pack from heat more than passenger EVs.

So how to EV manufacturers mitigate the high heat issues for their batteries? Of course, a nice cooling system can solve this problem, but it also consumes the energy from the battery and thus shortens the mileage per charge. They could adjust the battery’s power during fast charging when the battery temperature hits the upper temperature limit. But some real data showed up to 50% more time will be needed for fast charging in hot climates, which is a negative for consumers. EV owners could park in the shade or avoid driving during hot days, but that’s not always possible.

While many consider solid-state batteries to be the “holy grail” of EV batteries, but they’re still years away from commercialization. At G3, we have developed a portfolio of graphene-enhanced battery solutions that bridge the gap between today’s lithium-ion batteries and tomorrow’s solid-state.

Our graphene-coated current collector performs much better than bare aluminum current collector, even at temperatures above 131° making it a good fit for military applications under extreme conditions. It would also benefit E-trucks and every EV that needs higher power and real fast-charging. The theory behind this is that HF generated from a chain reaction in electrolyte can damage the surface of the current collector in a Li-ion battery. The corrosion reaction will become more serious when temperatures or voltage are high.

G3‘s graphene-coated Al current collector solves this problem. We did an accelerated cycling test at 55°C between 4.0 and 4.3V, the voltage range the corrosion is serious. You can see that when commercial bare Al was used, the capacity dropped rapidly to <80% capacity retention within 50 cycles.

Our graphene-coated Al current collector can last over hundreds of cycles. 55°C might be considered as an extreme condition but actually the battery can reach this temperature fairly easily. Super-charging, parking under direct sunlight in summer or tropical areas, or continuously driving for hours will let the battery heat to over this temperature and damage the battery permanently. In the future, we will use this product in our cells to improve the cycle life, making it capable of high-power charge/discharge, and giving consumers worry-free parking for days of hot weather. Tesla and other EV OEMs can surely benefit from our graphene-coated current collector.

We’re ready to talk about our EV battery technology. Give us a call at 937-331-9884 or email [email protected] to schedule a time. Our drop-in solutions are ready now and will lower EV battery costs, increase their range and provide a safer battery. Widespread EV adoption is around the corner, and G3 is prepared to be part of the EV revolution.