EQONIC, a UK-based battery technology company, has made a breakthrough that could redefine the energy storage industry by lowering material costs and making energy storage more affordable, according to Charged EVs.
"While others were rushing to market with incremental improvements, we took a different path: develop breakthrough technology first, then build the business around it," said Jas Kandola, founder and CEO of EQONIC Group.
"The result is technology that costs 70% less … than traditional lithium batteries while being completely safe and sustainable," Kandola added.
As Kandola told Forbes earlier this year, EQONIC sought to address several major concerns in the existing battery supply chain, including battery safety, end-of-life sustainability, and the environmental impact of mining for rare-earth materials.
To achieve this, EQONIC used only abundant materials to develop the battery, so no sodium, lithium, or rare-earth metals were involved.
Lithium mining can inflict a significant environmental toll, and the absence of it in this system represents a significant advancement in battery creation.
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The company has said that all materials used are inherently non-flammable, greatly reducing any fire risk. Considering how many garbage truck and landfill fires are caused by the improper disposal of lithium batteries, this feature could be game-changing.
Additionally, EQONIC designed its new battery with total recyclability in mind from the outset. This could potentially address another key concern for these types of systems and reduce the pollution they create, thereby lowering pollution-related health issues in our communities.
This battery system has a target manufacturing cost of £50 ($67) per kilowatt-hour at scale, roughly half the current industry average, potentially resulting in significant savings for companies, cities, and individuals.
To help keep costs down and avoid competing with larger companies, EQONIC forewent building a factory of its own and instead planned to secure partnerships and license its technology to bring its innovations to a wider consumer market.
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Though it's unclear when this technology could hit the commercial market, its creation is an important step toward more sustainable battery manufacturing.
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