Xponential Battery Materials (XBM) has successfully expanded our biomass-based Li-Sulfur cathode battery material portfolio to now include lignin byproducts sourced from a major U.S. manufacturer. In recent tests, our lignin-based cathodes have delivered performance results comparable to our showcase tannin-based cathode porous carbon host materials, underscoring the potential of lignin in next-generation sustainable US battery material supply chain solutions. The Company continues to develop processes to take most any type of biomass byproduct material and process it into a valuable porous carbon battery material.