The future of electric vehicles depends on how to make batteries cheaper and more efficient, so everyone
(TSLA) battery manufacturer
(QS) are committed to making them more advanced and looking for new technologies to solve problems such as cost and availability of raw materials. In fact, it turns out that a useless mineral – wacky gold – may end up being the answer the battery industry needs to mint money in the future.
Solid Power, a solid-state battery company, announced on Friday that it has received the Intelligence Advanced Research Projects Activity (IARPA) award for the research and development of nickel- and cobalt-free all-solid-state battery cells. The award should bring the company about $ 13 million.
The company is working on solid-state batteries with an iron sulfate cathode. Some iron sulfates are better known as fool’s gold due to their shiny appearance.
“Iron sulfide cathodes have been the focus of Solid Power since its research at the University of Colorado at Boulder,” Solid Power CTO Josh Buettner-Garrett said in a company press release. “This material is not only cheap, but also allows [life]… ”
All batteries – solid or conventional – have cathodes and anodes that facilitate the movement of electrons. In this context, solid-state means that the battery does not have a liquid electrolyte, like a conventional lithium-ion battery cell. Solid state batteries promise faster charging times, better safety, lower costs, and longer range for electric vehicles.
Automotive-grade solid-state batteries have yet to be created, but the potential is enormous.
All battery manufacturers are working to develop efficient, low-cost batteries that minimize the use of cobalt and nickel cells. They are more expensive than, say, iron, which can also be used. Cobalt is predominantly mined in the Democratic Republic of the Congo, which does not respect human rights.
“Moving to a pyrite cathode can provide a huge cost advantage over traditional lithium-ion batteries at the cell level, while still delivering very high specific energy that can be used in a wide variety of applications,” Solid Power CEO Doug Campbell told the press. -release of the company. … IARPA [program] naturally fits Solid Power given our history of working with this chemistry. ”
Many battery and car marker manufacturers invest in solid state batteries. QuantumScape (QS) may be the most familiar to solid state investors. Quantum stocks are worth over $ 10 billion. However, two other solid-state players are in the process of merging with special acquiring companies.
Decarbonation plus acquisition III
(DCRC) teams up with Solid Power. And
Acquisition of Ivanhoe Capital
(IVAN) merges with SES.
The IARPA deal will bring Soild Power some cash and technical expertise. But the SPAC merger will bring in about $ 600 million for the development of the company’s business plan. Solid Power has no significant sales yet. Revenue is expected to be around $ 1 billion by 2027.
The decarbonization merger and the Ivanhoe merger are not yet complete. When they are, the two combined companies essentially become battery companies. Investors can buy SPAC shares now, and if the merger is complete, investors will own the solid-state battery players.
Decarbonation SPAC stock does little in the premarket.
Dow Jones Industrial Average
futures are down about 0.4%.