Electric Vehicles and Energy Storage to Power the Lithium Market
NEW YORK, February 7, 2018 /PRNewswire/ --
According to data compiled by Grand View Research, the lithium-ion battery market is expected to reach $93.1 billion by 2025, growing at a CAGR of 17%. Lithium-ion demand is expected to grow substantially due to the rapid growth in electric vehicles (EVs) and portable rechargeable electronic devices. Currently, rechargeable devices control majority of the lithium-ion market, but it is expected that EVs will become the largest contributor to the lithium market in the coming years. Energy storage system is expected to witness the fastest growth over the forecast period at a CAGR of 21% from 2017 to 2025 owing to the developments in wind and solar PV in countries including Germany, China and U.S. MGX Minerals Inc. (OTC: MGXMF), Ford Motor Company (NYSE: F), Sociedad Quimica y Minera de Chile S.A. (NYSE: SQM), Orocobre Ltd. (OTC: OROCF), Lithium Americas Corp. (NYSE: LAC)
The popularity for lithium-ion batteries is due to its high energy density and high safety level ratings. The batteries are popular in applications that require light but high energy density solutions. According to Bloomberg New Energy Finance, "Demand for the metal won't slacken anytime soon-on the contrary, electric car production is expected to increase more than thirtyfold by 2030."
MGX Minerals Inc. (OTC: MGXMF) also listed on the Canadian Securities Exchange under the Ticker 'XMG'. Just earlier today the company announced breaking news that, "that 100% wholly-owned subsidiary ZincNyx Energy Solutions, Inc. ("ZincNyx") has received notice of publication of its patent describing metal-air fuel cells under the Patent Cooperation Treaty (PCT/CA2016/051080). The patent application has entered the National Phase and numerous international jurisdictions are designated for filing. ZincNyx currently owns 20 United States patents covering metal air batteries and fuel cells. Key technical features of the referenced patent application include:
- An apparatus for encouraging the settling of metal-air particles in the
electrolyte (anode) chamber of a fuel cell.
- A serpentine arrangement for flowing electrolyte through the anode chamber of the fuel
cell.
- A stack of bipolar cells oriented in a horizontal or vertical arrangement.
- A method for charging a fuel cell with a bed of metal particles
ZincNyx technology has been developed around the utilization of zinc as the anode fuel, which offer numerous advantages over other forms of metals due to its unique attributes which include high energy density, abundant availability, low cost, and ease of storage and handling. The regenerative system does not require fuel replacement and offers scalable energy capacity through simple introduction of additional fuel tanks. Additionally, because the energy and power capabilities of the system have been completely decoupled, investigation into its viability within much broader sectors beyond mass storage are currently underway, including introduction into both mobile and maritime environments as an alternative to diesel engines.
Ford Motor Company (NYSE: F) is a global company based in Dearborn, Michigan. The company designs, manufactures, markets and services a full line of Ford cars, trucks, SUVs, electrified vehicles and Lincoln luxury vehicles, provides financial services through Ford Motor Credit Company and is pursuing leadership positions in electrification, autonomous vehicles and mobility solutions. On January 16, 2018, the company detailed plans to improve operational fitness, refocus capital allocation and accelerate the introduction of smart vehicles and services. Presenting at the Deutsche Bank Global Auto Industry Conference in Detroit, the company provided preliminary results for full-year 2017, issued guidance for 2018 and outlined plans to accelerate investment in electric vehicles and sport utility vehicles. Ford also will expand its electrified vehicle lineup with a total of 40 vehicles globally, which will include 16 full battery electric vehicles by 2022. To support this, the company announced that it now plans to invest more than $11 billion in electrification from 2015 to 2022. The company also reiterated that it is on track to deliver a full battery electric performance SUV that offers at least a 300-mile range, for launch in 2020.
Sociedad Quimica y Minera de Chile S.A. (NYSE: SQM) is an integrated producer and distributor of lithium, iodine, specialty plant nutrients, potassium-related fertilizers and industrial chemicals. On December 20, 2017, the company informs that the Company and its subsidiary SQM Australia Pty have finalized the purchase of 50% of the assets of the Mount Holland Lithium Project in Australia. This purchase is from MH Gold Pty Ltd, Montague Resources Australia Pty Ltd y Kidman Resources Limited as the result of compliance of the conditions established in the purchase agreement agreed by the Sellers and informed to the Superintendencia de Valores y Seguros on September 11, 2017. SQM Australia and the Sellers have also signed a joint venture agreement describing the development, construction and mining operations, concentration and refining plants for the production of lithium carbonate and lithium hydroxide. This joint venture agreement will also allow for the exploration and exploitation of Sellers's lithium rights which are not included in the Agreement.
Orocobre Ltd. (OTC: OROCF) is building a substantial Argentine based industrial chemicals company through its portfolio of lithium, potash and boron assets. In partnership with Toyota Tsusho Corporation (TTC) and JEMSE, Orocobre has built and is now operating the world's first commercial, brine-based lithium operation constructed in approximately 20 years, with a Stage One design production rate of 17,500tpa lithium carbonate for sale to industrial, technical and battery markets. Orocobre and has defined a growth strategy to double current lithium carbonate production capacity at Olaroz to 35ktpa and to construct a 10ktpa lithium hydroxide plant in Japan. The Company also owns Borax Argentina S.A, a well-established boron chemical and mineral producer with extensive operations and a 50-year production history.
Lithium Americas Corp. (NYSE: LAC), through a Joint Venture with Sociedad Quimica y Minera de Chile (SQM), is developing the Cauchari-Olaroz brine deposit in Jujuy, Argentina. Through its wholly-owned subsidiary, Lithium Nevada Corp., the company is developing one of North Americas' largest lithium deposits in northern Nevada. The company intends to become a major supplier of lithium products to the energy storage and electrified vehicle markets. Lithium Americas envisions a world evolving with advances in clean energy. Lithium-ion technology is at the forefront of an environmental shift and the company intends, through its Cauchari-Olaroz and Lithium Nevada projects, to supply the critical element for the energy revolution.
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