In our future electrified world, the demand for battery storage is projected to be enormous, reaching to upwards of 2 to 10 terawatt-hours (TWh) of annual battery production by 2030, from less than 0.5 TWh today. However, concerns are growing as to whether key raw materials will be adequate to meet this future demand. The lithium-ion battery – the dominant technology for the foreseeable future – has a component made of cobalt and nickel, and those two metals face severe supply constraints on the global market.
Now, after several years of research led by Lawrence Berkeley National Laboratory (Berkeley Lab), scientists have made significant progress in developing battery cathodes using a new class of materials that provide batteries with the same if not higher energy density than conventional lithium-ion batteries but can be made of inexpensive and abundant metals. Known as DRX, which stands for disordered rocksalts with excess lithium, this novel family of materials was invented less than 10 years ago and allows cathodes to be made without nickel or cobalt.
Cadence Minerals plc (LON:KDNC) provides mining services. The Company focuses on finding lithium and other technology minerals in new places, as well as offers extracting services.
