Cost Savings

Providing lithium-ion performance at lead-acid prices. As one of the commodity components for numerous lithium-ion battery-types, cobalt has increased 129% in 2017, as a direct result of demand from the lithium-ion battery business.  In addition lithium prices have continued to increase, with Bloomberg predicting that both these factors will have an impact on Lithium-ion battery pack prices in 2018.

Faradion’s sodium-ion batteries do not use lithium, cobalt or copper and therefore are not susceptible to changes in the prices of these materials, unlike lithium-ion batteries.

Faradion’s sodium-ion technology is anticipated to cost 30% less than Li-ion.

This is achieved by a combination of:

  • Using highly-abundant sodium as the ion in the battery
  • The absence of expensive cobalt in the active materials
  • Readily available anode materials
  • Inexpensive electrolytes
  • The use of aluminium current collectors for both electrodes

The potential savings have been highlighted by Sir Mark Walport, Chief Scientific Adviser to HM Government and Head of the Government Office for Science.

In his recent review of the case for a new UK battery research institution, he commented that sodium technology “could bring down prices substantially”. See here for his review in full.

In addition, sodium-ion cells are produced on existing Li-ion cell manufacturing lines, requiring no additional asset investment.

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