Kodak is repurposing old machines once used to coat 35mm film to produce materials needed in the manufacturing of electric vehicle and energy storage batteries.

In addition, the company has purchased a minority stake in California-based Wildcat Discovery Technologies, who is developing a super cell for EVs.

Kodak Executive Chairman and CEO Jim Continenza said its old machines were ‘‘probably a $70 million or $80 million machine, and we were selling it extremely cheap, for less than $2 million.

“And it’s like, ‘No, we’ve got to put this back to work. This is an incredible piece of equipment.’ And we realised, accidentally, George Eastman made a battery company, he just didn’t know it. It’s identical to making film and coating on batteries.”

Kodak will be able to use this converted technology for a wide range of battery production.

“It’s not just EV batteries,” Continenza said.

“There’s home storage and there’s different technologies, we’re looking at doing some solid-state stuff for others. We’re also doing hydrogen, hydrocell. So it’s not just limited in there because we know how to manufacture these things.”