08:54 AM EDT, 10/28/2024 (MT Newswires) -- Coherent (COHR) said Monday it is considering strategic alternatives for its battery technology platform.

The platform includes cathode, electrolyte, and cell technologies using immobilized sulfur as a cathode material, the company said. The technology is protected by four patents, with 13 pending, Coherent said.

The strategic review of the technology follows a portfolio assessment in August, the company said.

Shares of the company were up more than 2% in recent premarket activity.

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