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Batteries and otherelectricity storage technologies are key to making the transition awayfrom fossil fuels possible.
According to the International Energy Agency (IEA),meeting the world’s climate and renewable energy goals will requireapproximately 10,000gigawatt hours of energy storage technology, includingbatteries.
Tohelp the world meet that goal, Electrovaya Inc. (OTCQB: EFLVF)is developing a range of proprietary lithium-ion batteries that arelow-cost, long-lasting and easy to scale to meet the energy needs ofanything from an electric vehicle to an industrial energy storagesystem.
Lithium-Ion Batteries – AMuch-Needed Game Changer In Energy Storage
Lithium-ion batterieshave become a major catalyst in the energy transition. They makeelectric vehicles more efficient and cost-effective, provide betterstorage capacity for renewable energy on the grid and generally act asa safer, less environmentally hazardous option for powering consumerproducts of all kinds.
Before these, the last great leap in battery innovationoccurred over a century ago in 1859 when the lead-acid battery wasinvented providing the first rechargeable battery on the market. Thisis the type still found in most combustion engine cars today.
While they can berecharged, lead-acid batteries are bulky, slow to charge and accountfor an estimated 44% to 70% of lead contamination in the environment.They also need to be replaced more often because the average lead-acidbattery cycle life — the number of times it can be fully charged andthen discharged before degrading — is between 300 and 550 cycles.
On the otherhand, lithium-ion batteries can last for thousands of cycles.Electrovaya’s patented infinitybatteries , for example, boast one of the longest lifespans inthe industry, with tests showing they can operate for over 25 yearswith one cycle per day. That’s a cycle life of over 9,000.
Lithium-ion batteriesare also more energy dense. Electrovaya’s infinity batteriesgenerate around 200-watt hours per kilogram of battery weight comparedto just 25to 35 watt-hours per kilogram of a lead-acid battery.
While safer thanlead-acid batteries, lithium-ion batteries tend to overheat, which canlead to thermal runaway or combustion — as happened in 2014 when Boeing Co. ’s (NYSE: BA) 787 fleet was grounded after theplanes’ batteries started catchingfire . Electrovaya has addressed this by adding a proprietaryceramic separator to its infinity battery that provides better thermalprotection to prevent fire propagation.
As a result of this innovation, the companycan offer a battery platform that’s safer, more efficient, andlonger lasting than many other batteries on the market. While theinitial cost of infinity batteries is a little higher, the substantialincrease in battery life brings the total cost of ownership down 55%,according to the company’s estimates.
Electrovaya Is Already Working On The Next Big Leap In EnergyStorage Technology
To advance the tech even further, many researchers are workingon developing solid-state batteries — designs that rely on solidrather than liquid electrolytes to conduct electricity. Getting rid ofliquid electrolytes means the battery wouldn’t have the same leakageor overheating risks that current designs have.
It also makes even moreenergy-dense batteries possible, meaning they can be both lighter andmore powerful. The solid-state tech being developed at NASA, forexample, has yielded a battery that generates 500 watt-hours per kilogram and weighs up to 40% less than aliquid-based battery of the same capacity. Contemporary AmperexTechnology Co. Ltd. ’s (SHE: 300750) latest Kirin batterytechnology, as another example, is rated at 160 watt-hours perkilogram.
Using aproprietary solid composite electrolyte, Electrovaya is working onsolid-state battery technology of its own that uses lithium metal tocreate a more compact, energy-efficient design. In April, the company announced a major breakthrough: Coin-cell samples of the proprietary designreached 300 cycles with minimal degradation.
Electrovaya says theseresults acted as a proof of concept that a scaled version of thesolid-state battery could potentially meet the energy requirements ofelectric vehicles. The company is now in the process of establishing amanufacturing process with the goal of beginning preproduction onlarge-format cells by next year.
Earlier this month, Electrovaya also announcedplans to build its firstU.S. gigafactory — a 137,000-square-foot plant with acurrent potential capacity of one gigawatt-hour per year — in NewYork next year. The new factory is expected to increaseElectrovaya’s production capacity and improve supply chain securityto keep production costs down.
About ElectrovayaInc.Electrovaya Inc. (TSX:EFL) (OTCQB:EFLVF) is a pioneering leader inthe global energy transformation, focused on contributing to theprevention of climate change by supplying safe and long-lastinglithium-ion batteries without compromising energy and power.Electrovaya is a technology-focused company with extensive IP,designs, develops, and manufactures proprietary lithium-ion batteries,battery systems, and battery-related products for energy storage,clean electric transportation, and other specialized applications.Company's Infinity line of batteries is focused on commercialvehicles and its Solid State Technology under Development is focusedon passenger vehicles. To learn more about how Electrovaya is poweringmobility and energy storage, please explorewww.electrovaya.com.
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