Dear battery enthusiast,
Welcome to Battery Associates’ February Newsletter. We have summarised some of the month’s most relevant battery news, highlighting technology and research development, and updates from Battery Associates.
Battery Newsletter structure:
Battery Industry Highlights
B.A Editorial
Battery Insiders Podcast
B.A Updates & Events
Battery Industry Highlights
In this section, we have summarised relevant battery news from the past month.
On February 28, Agratas, a division of Tata Group's global battery business, confirmed plans to build Britain's largest 40 GWh battery factory in Somerset, UK. With a multi-billion pound (Over USD $5.12 billion) investment, the UK facility construction will be done in phases, with the battery production set to begin in 2026. JLR and Tata Motors will be Agratas’ first customers. Agratas also plans to create batteries for other applications, including two-wheelers and commercial vehicles, as well as commercial energy storage solutions. The project is expected to create more than 4,000 job opportunities in the region.
B.A Commentary: When Tata Sons announced their first overseas lithium-ion battery production facility in the UK on July 19, 2023, the specific location of the plant was not disclosed. However, this February, the battery division announced Somerset, UK, as the site for its production plant. The UK government has committed financial support for this project through The Automotive Transformation Fund (ATF), but the exact funding details have not been disclosed. It is expected that the specifics of government support to Tata Sons will be made available in due course.
On February 10, JSW Group announced an investment of ₹40,000 crores (USD $4.8 billion) to establish 50 GWh battery and electric vehicle (EV) manufacturing facilities in Odisha, India. This investment includes two individual facilities in Cuttack and Paradip. EVs and EV batteries will be manufactured in the ₹25,000 crores (USD $3 billion) facility in Cuttack, and the EV components will be manufactured in the ₹15,000 crores (USD $1.8 billion) facility in Paradip. This should create 11,000 total jobs (4,000 in Cuttack and 7,000 in Paradip).
B.A Commentary: JSW Group, a prominent conglomerate in India, operates across diverse sectors, including: steel, infrastructure, energy, cement, paints, and more. With this recent investment, JSW Energy is branching out into the battery and electric vehicle (EV) industry. On December 1, 2023, JSW Group partnered with Chinese SAIC Motor Corp. Ltd. (the parent company of MG Motor India) to establish a joint venture aimed at EV manufacturing in India. As part of the agreement, JSW will maintain a 35% ownership stake in the operations of this Indian joint venture. Notably, JSW Group did not participate in the production-linked incentive scheme introduced by the Government of India.
On February 12, ACC, backed by its three major shareholders Stellantis, Mercedes-Benz, and Saft (a TotalEnergies subsidiary), secured €4.4 billion (USD $4.79 billion) in debt from a consortium of commercial banks to expedite the construction of its European battery facilities. ACC is a known European player in the development and production of battery cells for Electric Vehicles (EVs). In December 2023, ACC commenced production for Stellantis at its Billy-Berclau Douvrin Gigafactory (France) as scheduled, marking the beginning of construction for the second block at the French site, followed by plans for the first block in Germany and a double block in Italy.
B.A Commentary: Following the success of Northvolt's recent loan arrangement, ACC, a European battery manufacturer, successfully secured €4.4 billion in debt financing to expedite the construction of its European battery manufacturing facility which has started production batteries from December 2023. Notably, both Northvolt and ACC have entered into substantial binding agreements with automakers, providing assurance for their loans. However, this level of certainty is not uniformly extended to all battery manufacturers across Europe who do not have such backing. While the European Investment Bank (EIB) is allocating significant capital to accelerate pilot-scale initiatives in Europe, there is a need for commercial and public banks to also contribute to bolstering the European ecosystem. The question remains: Can all companies provide adequate securities for loans, or does this pose a potential challenge?
On February 1, the Volvo Group finalized its acquisition of the battery business from Proterra Inc. and Proterra Operating Company Inc. This acquisition, valued at USD $210 million, includes a development center for battery modules and packs in California, as well as an assembly factory in Greer, South Carolina. On August 7 of last year, Proterra filed for Chapter 11 bankruptcy protection in the US.
B.A Commentary: Volvo intends to maintain Proterra as an ongoing enterprise, delivering customised services to select clientele. Lars Stenqvist, CTO of Volvo Group emphasises, ''These assets and the skills and competence of the Proterra team are a great complement to our current footprint and enables us to accelerate our battery-electric roadmap even further”
On February 22, the US Department of Energy (DOE) unveiled a significant move in the electric vehicle (EV) sector, announcing two direct loans, (both conditional commitments for the time being), totaling USD $710 million.SK Siltron CSS, LLC, based in Bay City, Michigan, would receive a substantial loan of approximately USD $544 million. This funding aims to bolster American manufacturing of high-quality silicon carbide (SiC) wafers, which are pivotal components for EV power electronics. Additionally, American Battery Solutions (ABS) would receive a loan of USD $165.9 million. This financing is intended to support the expansion of an advanced battery pack assembly facility, enhancing capabilities to cater to various electric vehicle applications across light, medium, and heavy-duty categories, as well as industrial equipment. ABS's facilities in Springboro, Ohio, and Lake Orion, Michigan, stand to benefit significantly from this financing initiative.
B.A Commentary: The loans, (once finalised), will be extended through LPO's Advanced Technology Vehicles Manufacturing (ATVM) Loan Program, aimed at bolstering domestic manufacturing of advanced technology vehicles, qualifying components, and materials that enhance fuel efficiency. Established under the Energy Independence and Security Act of 2007, the Advanced Technology Vehicles Manufacturing (ATVM) Loan Program has thus far allocated USD $8 billion to various projects. Notable recipients of ATVM loans include Nissan, Ford, Tesla, and Ultium Cells.
On February 15, Panasonic Energy and General Motors signed a binding agreement to procure 18,000 tons each of anode active material per year from Nouveau Monde Graphite (NMG). This will come from the planned Phase-2 integrated production, covering the entire process from ore to battery materials. With both agreements, NMG has reached approximately 85% of its planned active anode material production capacity at its Phase-2 Bécancour Battery Material Plant.
B.A Commentary: Nouveau Monde Graphite (NMG) secured USD $87.5 million, alongside its anchor customers Panasonic Energy and General Motors, its strategic partner Mitsui, and its long-time investor Pallinghurst, to accelerate its Phase-2 Bécancour Battery Material Plant. In tranche 1 investment, Panasonic and General Motors (GM) will each invest USD $25 million, totaling USD $50 million, while the remaining USD $37.5 million is contributed by other investors mentioned above. NMG aims to aggregate a total of USD $275 million in future funds for its Phase 2 project, subject to meeting specified requirements outlined by the clients.
B.A Exclusive summary
Canada's Strategic Push in Battery Upstream Industry Gains Momentum
The COVID-19 pandemic prompted Western nations to reassess their supply chain strategies, especially concerning critical minerals essential for energy storage. In response, Canada aims to position itself as a responsible upstream industry. Initiatives like the Inflation Reduction Act 2022 in the U.S. and the European Critical Raw Minerals Act 2023, combined with increasing EV adoption, make the Canadian upstream industry an attractive opportunity for both U.S. and European battery value chain companies. This led to at least CAD $1 billion in investments for EV battery mineral extraction and manufacturing between 2020 and June 2022.
In December 2022, the Canadian government unveiled its Critical Minerals Strategy, earmarking CAD $1.5 billion from the Strategic Investment Fund (SIF) to bolster critical minerals projects, emphasising advanced manufacturing, processing, and recycling. This strategic initiative has catalysed accelerated investments in Canada's upstream battery industry.
Notable commitments include GM and Posco's CAD $500 million joint venture in Quebec for cathode active material production; Nouveau Monde Graphite's CAD $15 million investment in lithium extraction; Electra Battery Materials' CAD $84 million for cobalt, nickel extraction, and battery recycling; and BASF's acquisition of land for its Canadian battery plant.
Recent developments in the last month (February 2024) further underscore Canada's ascendancy in the global battery market. Panasonic Energy and General Motors have inked a binding agreement to procure 18,000 tons each of anode-active material from NMG, (read the above news summary for more information), solidifying Canada's position as a preferred supplier in the EV revolution. Meanwhile, Electrova's receipt of a CAD $5 million grant from the Government of Canada for the construction of North America's first cobalt sulfate refinery underscores the nation's commitment to vertical integration in battery supply chains.
With funds still available for critical mineral-related projects in Canada, the Canadian government is eager to attract both domestic and international investment into the battery upstream industry. For more detailed information on fund availability, please refer to the following link.
EU Battery Regulation Services
Visit our updated EU Battery Regulation Briefings website (batteryregulation.eu).You are able to request an expert call and also access our AI-powered tool to understand the passed EU Battery Regulation. For any additional questions, please do not hesitate to reach out via info@batteryregulation.eu.
Website: Link
Battery Insiders Podcast Summary
Battery Associates runs a monthly podcast called Battery Insiders. Battery Insiders covers the role of batteries for sustainable development and battery-relevant topics featuring a range of battery experts and enthusiasts. Our podcast also includes the recordings of the Battery Revolution Clubhouse sessions co-hosted live by Mariam Awara. Battery Insiders is hosted by Bhavya Jha and Dr. Simon Engelke.
Talk on: Insights on Energy Transformation & Clean Tech Investments
Speaker: Dr. Qianran (Katherine) He, Investment Associate at TDK Ventures
Session Summary: The podcast episode features insights on energy transformation and clean tech investments and notes the growing trend of private investment in clean tech despite macroeconomic challenges. Dr. Qianran (Katherine) He discusses the different regions' contributions to the climate space, highlighting China's early leadership in electrification, the US's strength in technology innovation but lag in manufacturing, and Europe's fast-paced regulatory mandates and openness to supply chain integration. The episode also touches on the importance of startups understanding state-of-the-art technology and not reinventing solutions already available in top-tier manufacturers. Listen to the full conversation here.
Talk on: US battery supply chain and LFP batteries
Speaker: John Kem, President of American Battery Factory
Session Summary: The podcast episode featuring John Kem, President of American Battery Factory provides insights into the challenges and strategies involved in establishing a domestic battery supply chain focused on producing lithium iron phosphate (LFP) battery cells. It explores the competitiveness of LFP batteries, highlighting the importance of electrode design and leveraging U.S. and European technology to compete with overseas production. His discussion with Dr. Simon Engelke & Mariam Awara covered various aspects including technology partnerships, workforce recruitment, and the impact of the Inflation Reduction Act (IRA) on manufacturing and supply chain logistics. Listen to the full conversation here.
Battery Associates Updates & Events
Advanced Battery Power – Battery Power Plant
10 - 11 April 2024
In-Person & Online | Münster
The Advanced Battery Power Conference will feature automotive and energy supply solutions and also offers an excellent platform for companies, research institutes, universities, and individuals to present their work and results in the field of battery technology to a professional audience. Scientists, developers, and engineers from all areas of the battery value-added cycle will meet at the 16th International Advanced Battery Power Conference at the Messe und Congress Centrum Halle Münsterland in Münster. Register here.
Vehicle-to-grid, Vehicle-to-Home & Smart Charging
10 - 11 April 2024
In-Person & Online | Münster
Vehicle-to-grid conference will feature technical and systemic perspectives from industry and business. The conference places five focus topics along the value chain - practical projects, charging infrastructure, vehicles, system integration, and networks. It features selected speakers from important institutions and will provide an opportunity for interactive exchange of business & science. Register here.
Li-Ion Battery Americas 2024
23 - 24 April 2024
In-Person | Las Vegas
Li-ion Battery Americas 2024 is at the forefront of expediting the development of the American EV & Li-ion Battery industry, gathering policy makers, investors, manufacturers, raw materials suppliers, components suppliers, and technical service providers internationally to build business partnerships. Key highlights include inspiring keynote speakers, thought-provoking panel discussions, networking opportunities with industry pioneers, and cutting-edge technology showcases. Be a voice of innovation! If you have valuable insights to share, there's still an opportunity to join the esteemed lineup of speakers. If you are interested in speaking, sign up here. Register now and take advantage of a 10% discount here!
FT Live Future of the Car
7 - 9 May 2024
10th Anniversary Edition
In-Person & Digital | London
The FT Future of the Car Summit returns for its tenth anniversary edition this Spring. Held over three days, the event convenes the most influential players in the automotive sector for newsworthy keynote interviews, lively debates and ample networking opportunities.
Hear from executives from the biggest car companies, CEOs from Peugeot, Nissan, Rivian, SEAT & CUPRA, Bentley Motors, Hyundai, Volkswagen, Mazda and more and connect with investors, tech creators and OEM leaders seeking new partners for future vehicle development.
Key themes will include transitioning to electric and future battery tech, sustainability and alternative fuels and future mobility and evolving supply chains.
The Battery Show EU
18 - 20 June 2024
In-Person | Stuttgart
Get ready to meet 930+ industry leading suppliers at The Battery Show Europe and Electric & Hybrid Vehicle Technology Expo Europe, the largest European tradeshow and conference focused on the latest advanced battery and H/EV technology developments.
Join 19,000+ fellow engineers, executives, thought leaders, professionals and decision-makers at the Messe Stuttgart, Germany on 18-20th June, 2024 for three electrifying days, filled with opportunities to source the latest technologies, develop your industry knowledge of key topics and network with like-minded peers.
BatteryMBA May Cohort
BatteryMBA’s upcoming cohort runs from May 6 to July 27, 2024! BatteryMBA offers a combination of in-depth technical and business knowledge on a range of battery topics aligned with the sector's dynamic growth. BatteryMBA alumni have affiliations with Tesla, Farasis Energy, JLR, Airbus, Hitachi High-Tech Europe, Schlumberger, Bertrandt Group, AMTE Power, the University of Birmingham, the European Parliament, and many others. Enroll here!
The course consists of an exciting battery case study track (with case studies from leading business schools). If you have any queries, reach out to us via email at info@battery.mba. Need-based scholarships and group discounts are available.
Battery Day 2024
Battery Day 2024 will take place on Thursday, September 26, 2024, featuring panels, deep dive sessions, keynotes, and networking breaks to facilitate up-to-date knowledge of different battery technologies, future chemistries, applications, and market insights from leading battery experts. If you are interested in being involved in the event, please contact info@battery.associates.
Battery Associates services
Battery Associates offers consultancy, innovation, and education services on a wide range of topics. Please get in touch if you're interested in any of our services!
About Battery Associates
Battery Associates (B.A) is a community-driven company on a mission to accelerate sustainable battery innovation - join us!
B.A operates as a global network that unites battery experts (BatteryPRO), a platform for innovative projects (BatteryLAB), and a facilitator of training programmes for aspiring battery leaders (BatteryEDU). B.A's educational programmes notably includes BatteryMBA, a 12-week programme training aspiring battery leaders.
We are rapidly becoming a reference community for battery enthusiasts who want to tackle pressing environmental and energy-related challenges. Battery Associates currently unites battery experts working across the battery value supply chain, based in over 20 countries. We're growing, join us in our work!
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