January 24, 2020 2 PM

Stepping up to the Challenges of Battery Technology with InnoEnergy

Analysis show that demand for lithium ion batteries has tripled since 2015, reaching levels initially predicted for 2020. As global lithium demand is set to reach 2.2 million tonnes by 2030, supply is only projected at 1.67 million tonnes during the same period, resulting in a significant market gap. The trend calls for immediate action and InnoEnergy is in the frontline of developments in the industry.

Bo Normark, industrial strategy executive at InnoEnergy, argues that focus will increasingly shift to independence from critical minerals in lithium batteries in the coming years. Improving the cost/performance ratio in batteries is the latest development that keeps the sector abuzz.

“We expect to see a significant improvement in cost and performance with the current technologies. Furthermore, there are new technologies under development promising even higher performance. The most talked about technology is solid state batteries, which have the potential to improve the cost performance of lithium batteries far beyond today’s technologies. Taking all possibilities into account, it is not unlikely that before 2030 we will see another improvement in cost and energy density by a factor of three”, Normark predicted in an analysis published on mining-technology.com. (https://bit.ly/38nUsrh)

InnoEnergy has been at the forefront of the development of energy-saving, eco-friendly, sustainable technologies and is a firm supporter of innovative new solutions with a potential for shaping the future. In addition to financial support and investments, InnoEnergy’s professional network and the vast range of services it offers have played a pivotal role in the research and business growth of its partners. InnoEnergy’s services portfolio includes product enhancement development, and pilots, commercialisation strategies, international market introduction and expansion as well as various funding opportunities.

InnoEnergy’s success stories

Northvolt (Sweden)

Located in the Nordic region of Europe, Northvolt is Europe’s largest lithium-ion battery manufacturer with a current market value of €1.6 billion. In 2019, InnoEnergy - with the support of the EIT and the European Union - invested €5.8 million into Northvolt’s “Revolt” programme, bringing its total capital contribution to €9.3 million. InnoEnergy also supported Northvolt in securing a €350 million loan from the European Investment Bank. Northvolt’s “Revolt” programme aims to implement the latest discoveries in efficient materials recovery methods; the construction of a pilot battery recycling plant is also outlined under the programme, followed by a full-scale version at Northvolt’s site in Skellefteå in 2022.

Skeleton Technologies (Estonia)

Established as a six-person Estonian research team in 2009, Skeleton Technologies, the InnoEnergy-backed manufacturer of graphene-based ultracapacitors, has been recognised as one of the most promising young businesses contributing to energy transition and climate protection The company won the 2018 SET Award in the category of innovative mobility. Ultracapacitors, also known as supercapacitors, are energy storage devices that offer high power density, almost instant charging and discharging, high reliability, and outstandingly long lifetime. Skeleton Technologies received a €4 million investment from KIC InnoEnergy, but funding was not the only benefit of the partnership. In 2017, the Estonian firm unlocked a €15 million loan from the European Investment Bank to scale its technology and ambitions.

“When we talk to people, there are three names that instantly catch their attention: The European Space Agency, Horizon 2020 and InnoEnergy. InnoEnergy has been instrumental in getting us to where we are today”, Egert Valmra, Skeleton’s programme director told innovatorsmag.com.