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Sodium-Ion Batteries: A New Competitor to Lithium-Ion in Energy Storage
One significant barrier to the widespread adoption of batteries has been cost. Even though lithium-ion batteries have spurred the growth of electric vehicles, their price remains high—around $140 per kilowatt-hour for a battery pack. This costliness makes it impractical to equip every home with a large battery for blackout protection. Consequently, manufacturers are now exploring sodium-ion batteries as a more cost-effective complement to lithium-ion technology.
When produced on a similar scale, sodium-ion batteries are projected to be far cheaper, mainly because their raw materials are significantly less expensive. However, sodium-ion batteries are currently not suitable for electric vehicles due to their size and weight. Additionally, they require different electronics for charging and discharging, which complicates their implementation.
Despite these challenges, a startup has made noteworthy progress in resolving these issues by utilizing a new chemistry that incorporates sodium-chromium-oxide and tin. These innovative batteries are comparable in size to lithium-iron-phosphate cells, sometimes even smaller. Moreover, their power output matches that of lithium-ion batteries, allowing the use of existing electronic management systems. Another advantage is that the materials used are widely available; for instance, chromium is produced in twice the quantity as copper annually.
The company, which emerged from research conducted at UC San Diego, also focuses on safety. Unlike lithium-ion batteries prone to thermal runaway and catching fire, sodium-ion batteries developed by this startup can withstand internal temperatures of several hundred degrees Celsius without igniting, making them ideal for use in buildings, hospitals, and data centers.
Efficient and Scalable Production
Rather than investing in the construction of new factories, the company plans to partner with existing smaller battery manufacturers, similar to how TSMC produces chips for tech giants. These manufacturers can produce the startup's batteries using their current equipment, with sufficient capacity to operate at a megawatt-hour scale.
Target Markets and Future Expansion
The company's initial focus will be on providing energy storage solutions for buildings and small campuses. However, they are also eyeing the market for light electric vehicles, such as scooters and motorcycles, which are prevalent in regions like India and Southeast Asia. These areas experience high temperatures that can cause lithium-ion batteries to overheat and catch fire, thus presenting a significant opportunity for sodium-ion technology.
To bring their sodium-ion batteries to market, the startup has secured a $12 million Series A funding round led by Transition VC and Ritz Venture Capital, among others. The goal is to start selling their cells within the next five years, aiming for a fast and impactful market entry.
