Partnership to enable development of the
lowest cost, longest range EV batteries replacing graphite and
silane-based silicon with metallurgical silicon for the first
time.
SAN
LEANDRO, Calif. and LONDON, March 12,
2024 /PRNewswire/ -- Coreshell, a US-based
battery technology company and Ferroglobe PLC (NASDAQ: GSM), a
world leading producer of silicon metal and ferroalloys, today
announced the signature of a memorandum of understanding. Together,
Ferroglobe and Coreshell expect to produce the first battery-ready
metallurgical silicon for the development of low-cost, high-range
EV batteries in compliance with the U.S. Inflation Reduction Act.
The partnership will enable the leapfrogging of silane-based
silicon and the replacement of graphite in EV batteries, which have
bottlenecked the auto industry since the introduction of electric
vehicles, creating cost and range limitations.
Electric vehicles suffer from significant cost disadvantages for
consumers and automakers alike, with batteries comprising 30-40% of
the total cost of electric cars[1]. Car
manufacturers are interested in using silicon in batteries because
it can store up to 10 times more energy in the anodes than
graphite. This could potentially result in a 30 percent increase in
driving range.
Coreshell's proprietary battery technology, featuring a unique
nanomaterial electrode coating, is the only proven solution to
mitigate the degradation of micrometric silicon, preventing its
rapid loss of life while still allowing lithium ions to pass
through. Ferroglobe's proprietary metallurgical purification
process to produce up to 99.995% silicon is cost-effective and does
not use any chemical reagent, a key technology for producing
affordable silicon active material. These innovations enable, for
the first time, the development of lithium-ion batteries with
metallurgical silicon dominant anodes that meet product
requirements for lifetime across a range of applications.
"We believe battery-grade, micrometric silicon is the fastest
path to decarbonizing the mobility industry," said Benoist Ollivier, Chief Technology &
Innovation Officer of Ferroglobe. "When the right battery
technology partner and the leading supplier of silicon to the U.S.
come together, breakthroughs can happen. Coreshell is a leading
technology company that has been able to solve the raw
metallurgical silicon degradation problem and unlock the true
performance of this element. We are thrilled to partner with the
battery material innovators at Coreshell and play our part in
accelerating the transition to clean energy in the automotive
industry for everyone."
"Silicon stores 10 times the energy of graphite and it is
available in sufficient quantity and quality. It is the only viable
pathway to low-cost, long-range electric vehicle batteries that can
be scaled rapidly using a 100% domestic supply chain," said
Jonathan Tan, CEO of Coreshell. "The
issue to date is that no one has been able to unlock the power of
metallurgical silicon, and the high cost and scaling challenges of
highly engineered or silane-based synthetic Silicon anodes have
prevented the industry from benefiting from its true potential.
With Ferroglobe's silicon and Coreshell's technology, we have
unlocked that power. We are simplifying silicon and stripping out
the costs so we can deliver the lowest cost, long range EV
batteries in existence."
About Ferroglobe
Ferroglobe is a leading global
producer of silicon metal, silicon-based and manganese-based
ferroalloys serving a customer base across the globe in dynamic and
fast-growing end markets, such as solar, automotive, consumer
products, construction and energy. The Company is headquartered in
London. For more information,
visit www.ferroglobe.com.
About Coreshell
Coreshell is an advanced battery
solutions company that increases the range of electric vehicles
while bringing down costs — so the world can transition to clean
energy in time. Easily applied onto the surface of the electrodes
in lithium-ion batteries during the manufacturing process,
Coreshell's technology has proven to extend capacity of these
batteries by 30 or more percent - while reducing costs for
automakers. Headquartered in California, Coreshell partners
include multinational battery manufacturers and auto OEMs committed
to zero emissions and paving the future of
transportation.
Ferroglobe - INVESTOR CONTACT:
Alex Rotonen,
CFA
Vice President, Investor Relations
Email: investor.relations@ferroglobe.com
Ferroglobe - MEDIA CONTACT:
Cristina Feliu
Vice President, Communications & Public Affairs
Email: corporate.comms@ferroglobe.com
Coreshell - MEDIA CONTACT:
Nadia Jamshidi
Media Relations
Email: nadia@goodnature.ventures
[1] IEA. Global Supply Chains of EV Batteries.
(2022)
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SOURCE Coreshell Technologies