BioSolar Inc. has signed a joint development agreement with a Spanish subsidiary of Ferroglobe PLC to develop and market silicon anode materials for use in lithium ion batteries.

The Santa Clarita alternative energy manufacturer, which has created technology for improving the storage capacity and extending the life of lithium ion batteries, said that Silicio Ferrosolar SLU is a natural fit as a development partner as it can incorporate BioSolar’s silicon additive technology into its own raw silicon materials.

BioSolar Chief Executive David Lee said that Ferroglobe, in London, has a proven track record of supplying silicon materials to the global market.

“We are confident that this partnership and its subsequent results will continue to demonstrate not only higher performance but also better price points, strengthening BioSolar’s commercial viability and market potential,” Lee said in a statement.

Shares in BioSolar (BSRC) closed up almost 3 cents, or more than 90 percent, to about 6 cents on the over-the-counter market.