Demand for lithium-ion batteries in energy storage systems and electric vehicles is set to skyrocket and the West must step up its recycling efforts if it is to escape China’s chokehold on the supply chain, says an industry expert.
By 2030, it is expected there will have been a more than sixfold increase in demand for lithium-ion batteries, up from 700GWh today to around 4.7TWh.
The West’s relationship with China is fraught. Hayward highlighted China’s move in October to place export controls on graphite, another key battery material, as an example of how securing a country’s supply chain is key to its energy security.
Alkemy Capital Investments plc (LON:ALK) is focussed on developing projects in the energy transition metals sector. Tees Valley Lithium is developing a state of the art lithium hydroxide plant at Teesside, UK. Tees Valley Graphite is developing the UK’s first natural graphite active anode material processing facility at the ‘plug-and-play’ Wilton International Chemicals Park.