24.6 C
Belgrade
Supported byspot_img
spot_img

LG Energy Solutions Ventures into Lithium Metal Battery Development with Investment in Sion Power

Member of Europium Groupspot_img
Supported byspot_img

LG Energy Solutions announced its intention to purchase equity in lithium metal battery developer Sion Power, as part of a US$75M raising by the company. The Sion Power early-stage funding round saw not only LG Energy Solutions invests via its subsidiary LG Technology Ventures, but also from Hillspire LLC operated by former Google CEO Eric Schmidt.

Sion Power is developing the Liceron battery technology, which uses a lithium metal anode instead of a silicon-carbon base anode as is standard for Li-ion technologies. The improvements to energy density that lithium metal anodes could provide is significant, with Liceron batteries reported by Sio Power to show energy densities of up to 500Wh/kg. Improved energy density and effective vehicle range is important for automotive applications, where range anxiety remains a barrier to entry for some consumers.

Sion Power began the production of Liceron cells for commercial testing in mid-2023, with 18,000 pouch cells targeted for use in EV applications being produced. After initial commercial testing, Sion Power plans to see their cells used in commercially sold electric vehicles by 2027. The use of lithium as the main component in the anode, as well as a key component of the cathode, has the potential to significantly increase lithium demand in automotive applications. However, questions remain about the cost of cell/pack production which could slow the uptake of these technologies.

Supported by

 

Source: Project Blue

Supported byElevatePR Digital

Related News

Mali signs lithium mining agreement with Ganfeng, eyes revenue boost

Earlier this week, Mali's economy minister announced a significant deal with China's Ganfeng Lithium regarding the operation of the Goulamina lithium mine. Under the...

Weardale Lithium proposes advanced extraction plant in County Durham, UK

Weardale Lithium Limited, a natural resources company based in County Durham, UK, has recently filed a planning application with Durham County Council. This application...

EU nations present critical minerals investment strategies at Raw Materials summit

Representatives from leading nations disclosed their plans for critical minerals public funds at this year's Raw Materials Summit in Brussels, aiming to attract investment...

Final legal discussions underway for EU-Serbia lithium trade partnership

Commissioner Maroš Šefčovič revealed that the final legal obstacles are being addressed before the EU-Serbia trade partnership, focused on sourcing lithium from the Jadar...
Supported by
Supported by
Supported by
error: Content is protected !!