Kodak shares defy market downtrend on news of EV battery investment

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Shares of Eastman Kodak Co. climbed 1.0% in morning trading Wednesday, to buck the selloff in the broader stock market, after the commercial print and advanced materials company said it took a minority stake in a maker of components for batteries used for electric vehicles. Financial terms were not disclosed, but Kodak said it took the stake in Wildcat Discovery Technologies, which is developing an EV “super cell” that can provide greater than 90% improvement in energy density over current batteries. Kodak said the investment it made comes with the goal of having Wildcat’s “super cell” ready for commercialization in…

This article was originally published by Marketwatch.com. Read the original article here.

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