Battery Tech is Evolving from EV's to Electronic Devices to Space - Safety Concerns Drive Future Innovation
Point Roberts, Washington and Delta, British Columbia--(Newsfile Corp. - July 22, 2021) - Investorideas.com, a leading investor news resource covering EV and battery stocks releases a special report on battery technology innovation as EV car manufacturers, electronic device companies and space agencies look for more efficient, safe and effective battery options.
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In a report on the global lithium battery market, Reportlinker said, "Safety concerns towards lithium-ion batteries is the major challenge faced by the lithium-ion batteries market. Lithium-ion batteries generate large amounts of energy, associated with the risk of explosion or fire."
Continued: "For example, several Tesla Model S sedans caught fire after battery shield getting damaged by road debris. Therefore, inadequate safety in lithium-ion batteries hindering the lithium-ion batteries market's growth."
KULR Technology Group Inc. (NYSE American: KULR), a leading developer of next-generation lithium-ion battery safety and thermal management technologies believes they have a solution.
At the recently announced ringing of the closing bell on the New York Stock Exchange in celebration of the successful completion of its recent up-listing to the NYSE American exchange, KULR CEO Michael Mo said, "We couldn't be more excited about our prospects serving the world of e-mobility and energy storage at a time when the world is entering into an electrification revolution. We will continue to innovate with our space-proven technologies to make batteries and electronics cooler, lighter and safer."
From the news: The Company develops, manufactures and licenses next-generation carbon fiber thermal management technologies for batteries and electronic systems. Leveraging the company's roots in developing breakthrough cooling solutions for NASA space missions and backed by a strong intellectual property portfolio, KULR enables leading aerospace, electronics, energy storage, 5G infrastructure, and electric vehicle manufacturers to make their products cooler, lighter and safer for the consumer.
KULR's team has included some top level directors such as Dr. Joanna D. Massey, who joined the Company as an independent director back in February.
Dr. Massey has extensive experience advising executive teams at Fortune 500 companies, startups and non-profit organizations. A seasoned C-level communications executive and consultant, she has over 25 years' experience in the media and digital technology industries, strategizing on global brand reputation management as Head of Communications at Condé Nast Entertainment and Senior Vice President of Corporate Communications at Lions Gate Entertainment and at The Hub Network, a joint venture between Discovery, Inc. and Hasbro, Inc.. She also held Senior Vice President positions in communications and media relations at CBS Corporation and Viacom, Inc., now ViacomCBS Inc.. She also previously served as managing director at Golden Seeds, an early-stage investment firm with over $125 million in investment in more than 170 female-run businesses. Dr. Massey currently serves as a corporate consultant working at the intersection of communications and neuroscience with her firm JDMA Inc.
General Stayce D. Harris was also recently added to its board of directors. Harris also serves as Chairperson of the company's Compensation Committee.
General Harris is a retired United States Air Force Reserve Lieutenant General who last served as the Inspector General of the Air Force. She previously served as the Assistant Vice Chief of Staff and Director, Air Staff, Headquarters United States Air Force and prior as 22nd Air Force Commander (US Air Force Reserve) at Dobbins Air Reserve Base, GA. Harris made history becoming the first African American woman to command an Air Force operational flying squadron, wing and numbered Air Force and served as the first woman Inspector General of the Air Force. Harris is an experienced pilot with over 10,000 flight hours safely transporting passengers and cargo worldwide for United Airlines and was a pilot for nearly 30 years before retiring from the company in 2020.
Harris serves as a director of The Boeing Company, an independent director/trustee, BlackRock Fixed-Income Mutual Funds, and is a member of the board of councilors for Viterbi School of Engineering, University of Southern California, the board of directors for Direct Relief and a trustee of the Falcon Foundation, United States Air Force Academy.
On June 30, 2021, KULR shared its breakthrough recycling and prototype battery transportation solutions with industry and government leaders at the 11th Annual Battery Safety Summit.
From the news: KULR recently received two US Department of Transportation (DoT) special permits for the transport of recycled batteries and prototype lithium batteries up to 2.1 kilowatt-hour (kWh). When shipping lithium batteries up to 2.1 KWh, the special permit allows exceptions from shipping papers and employee safety training. The special permit authorizes these exceptions based on using KULR's specially designed thermally protective packaging which incorporates the Company's patented Thermal Runaway Shield (TRS) technology. KULR's special permits mark an important development for the Company as it continues to secure logistical partners for air, maritime, and ground cargo transportation of lithium batteries.
From the news: The Thermal Runaway Shield (TRS), has been shown in multiple tests to prevent or minimize the dangerous fires and explosions that can occur after a lithium-ion cell enters into a thermal runaway event. KULR's TRS technology was selected by NASA to transport to and store batteries aboard the International Space Station.
Tesla Inc. has been, for quite some time, one of the few EV companies in town but that is changing as new entrants to market compete. Safety is becoming a larger factor. The regulatory risk in Tesla's largest market, the US, has heightened considerably given a series of mishaps regarding the safety of Tesla's EV batteries.
A recent article chronicles the tangible rise in concern from the regulatory agencies, culminating with the new 'souped-up' Plaid Model.
"Unlike '19 and '20, Tesla is far from the only EV in town, be it Boston, Beijing, or Barcelona. There is significant potential for a valuation derating due to sliding market share, particularly from Tesla's main growth vector, China."
The company is expected to publish its Q2 2021 results after the markets close on Monday, July 26. The EV company has already provided delivery figures for the quarter, noting that it sold a record 201,250 vehicles, a sequential increase of 9% and a year-over-year increase of about 130%.
The Company plans to open up its network of superchargers to other electric vehicles later this year, CEO Elon Musk said recently on Twitter.
Enovix Corporation, the leader in the design and manufacture of next generation 3D Silicon™ Lithium-ion batteries, recently announced a contract award with General Technical Services under DOTC-17-01-INIT1218 Advanced Power Systems Technologies with the Department of Defense to demonstrate safe and efficient advanced lithium-ion battery technology to the U.S. Army. This contract was awarded in conjunction with Inventus Power, a leading provider of advanced battery and power systems that specializes in the design and manufacture of Li-ion battery packs, smart chargers, and efficient power supplies. The application for the Enovix batteries is the WarFighter centralized power source, used to power worn and carried equipment within the soldier ensemble. Enovix believes that the total U.S. wearable military battery market is approximately $350M annually based on currently established military programs.
"President Biden's recent executive order calls for a comprehensive review of US supply chains to identify vulnerabilities and risks, and lithium-ion batteries are imperative to our military and national security," said Cam Dales, General Manager and Chief Commercial Officer at Enovix. "In addition to our demonstrated product performance and ability to manufacture at scale, we understand that the Department of Defense greatly values our ability to produce our advanced lithium-ion batteries in the U.S. in order to secure the supply chain for mission-critical power sources to power the most advanced defense force in history."
From the news: US soldiers carry more than 60 pounds of gear including more than 15 pounds of batteries to power critical equipment-from weapons to newer technologies using smartphones, tablets, and GPS-and traditionally those batteries have been developed and sourced internationally. Since 2011, the US Army has been provided with slim and light batteries that can last through a three-day mission, solving two issues that soldiers were previously faced with: carrying too much weight and having an efficient power source.
Kandi Technologies Group, Inc., another player in the battery space, recently announced the expansion of its battery cell business with the acquisition of a leading cell producer in Jiangxi Province, China. Kandi is a leader in electric vehicles and associated parts, including the cell business of subsidiary Ankao and the intelligent battery exchange system, so this acquisition is a natural fit to its vertical integration strategy. The company to be acquired, Jiangxi Province Huiyi New Energy Co., Ltd., produces approximately 90 million 18650 lithium-ion rechargeable cells annually. The cells have a variety of applications, especially in consumer products. Kandi intends to further grow its cell business by using the newly acquired technology to address many new applications, eventually including EV battery packs.
Mr. Hu Xiaoming, Chairman and CEO of Kandi commented, "With the rapid growth of new forms of electric propulsion mobility, the battery industry is literally in its infancy. Whether it is classic pure-EV automobiles, recreational products like hoverboards, or the air transportation of the future, eVTOLS, the need for powerful, safe, and reliable battery storage will grow exponentially over the coming decades. Kandi already has significant expertise in electric propulsion, so this acquisition is the first step to take our expertise and market presence to the next level. Jiangxi Huiyi is already a high volume, profitable producer. Under Kandi's ownership, we intend to grow volume and market share by leveraging their technology to address many emerging applications."
CNBC recently reported on some of the recent vehicle fires from the Chevy Bolt EV and Telsa Plaid, saying, "The fire is the most recent to highlight an ongoing concern of automakers and vehicle safety watch dogs as companies release an influx of new electric vehicles in the coming years. Automakers have continually touted the environmental benefits of EVs, however, the lithium-ion batteries that power the vehicles can be dangerous and result in significant chemical fires if something goes wrong."
With so many new electric vehicles, devices and yes...now spaceships all coming down the industrial pipeline at breakneck speed, battery developers are realizing the need to up their game with regards to innovation and efficiency. Safety can no longer take a backseat to speed to market as the number of EV's coming to market raises serious concerns.
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