Faradion’s next-generation materials will be suitable for most kinds of energy storage applications, but particularly the so-called “large format” applications such as:
Stationary Energy Storage
- Off–grid storage associated for instance with domestic photovoltaic installations enabling electricity generation to be matched more efficiently to demand so resulting in significant long-term savings
- Grid storage
Renewable Energy Storage
- Large scale energy storage will allow a much greater usage of currently under-utilised renewable technologies such as wind and solar power
- Uninterrupted power supplies
- Emergency lighting
- Electric vehicles (EV/BEV)
- Hybrid electric vehicles (HEV)
- Plug-in hybrid electric vehicles (PHEV)
- Regenerative braking
Markets for lithium and sodium batteries
Li-ion devices are the dominant battery in many sectors of the consumer electronics market and they are now making an entry into emerging markets such as stationary storage (on and off grid) and electric vehicles. Despite their excellent energy densities, the main disadvantage of Li-ion batteries is their price and, for emerging, large volume, markets such as electric vehicles (EVs), a significant cost reduction is required in order for this technology to be fully competitive with gasoline and diesel fuelled vehicles.
Faradion, with its low-cost Na-ion technology, believes it will be able to provide a large, step-reduction in cost over Li-ion batteries, which is particularly important considering society’s ever-increasing energy requirements. In addition to being an enabler for electric vehicle technology, Na-ion batteries could lead the way towards flexible low cost energy storage coupled to the electricity distribution system. This type of large-scale energy storage will allow a much greater utilisation of renewable technologies such as wind and solar power by matching electricity generation more efficiently to demand.