BlackRock CEO says the climate crisis is about to trigger ‘a fundamental reshaping of finance’
In an annual letter to CEOs published Tuesday, BlackRock chief
executive Larry Fink said: “Climate change has become a defining factor
in companies’ long-term prospects.â€
“But awareness is rapidly changing, and I believe we are on the edge of a fundamental reshaping of finance,†he added.
BlackRock’s assets under management totaled almost $7 trillion in the third quarter of 2019.
The chief of the world’s largest money
manager believes the intensifying climate crisis will bring about a
fundamental reshaping of finance, with a significant reallocation of
capital set to take place “sooner than most anticipate.â€
In an annual letter to CEOs published Tuesday, BlackRock Chief Executive Larry Fink
said: “Climate change has become a defining factor in companies’
long-term prospects … But awareness is rapidly changing, and I believe
we are on the edge of a fundamental reshaping of finance.â€
Fink’s comments come as business leaders, policymakers and investors prepare to travel to Davos, Switzerland for the World Economic Forum next week.
The theme at this year’s January
get-together, which is often criticized for being out of touch with the
real world, has been designated as “Stakeholders for a Cohesive and
Sustainable World.â€
“Climate change is almost invariably the
top issue that clients around the world raise with BlackRock. From
Europe to Australia, South America to China, Florida to Oregon,
investors are asking how they should modify their portfolios,†Fink
continued.
“And because capital markets pull future
risk forward, we will see changes in capital allocation more quickly
than we see changes to the climate itself.â€
“In the near future — and sooner than most anticipate — there will be a significant reallocation of capital,†he added.
‘Defining issue of our time’
Alongside 20 other young climate
activists, Sweden’s Greta Thunberg has called on all of those attending
the World Economic Forum in the Swiss Alps to stop the “madness†of
ongoing investments in fossil fuel exploration and extraction and
“completely divest†from fossil fuels.
In an op-ed for The Guardian,
published Friday, Thunberg — who was catapulted to fame for skipping
school every Friday to hold a weekly vigil outside Swedish parliament in
2018 — said global leaders must also “end all fossil fuel subsidies.â€
Protesting against political inaction
over climate change, the 17-year-old sparked an international wave of
school strikes — also known as “Fridays for Future†— with millions of
other children following suit in cities around the world last year.
The United Nations has recognized climate
change as “the defining issue of our time,†with a recent report
calling the crisis “the greatest challenge to sustainable development.â€
‘Climate change is different’ to other crises
“Over the 40 years of my career in
finance, I have witnessed a number of financial crises and challenges —
the inflation spikes of the 1970s and early 1980s, the Asian currency
crisis in 1997, the dot-com bubble, and the global financial crisis,â€
BlackRock’s Fink said.
“Even when these episodes lasted for many
years, they were all, in the broad scheme of things, short-term in
nature. Climate change is different.â€
“Even if only a fraction of the projected
impacts is realized, this is a much more structural, long-term crisis.
Companies, investors, and governments must prepare for a significant
reallocation of capital,†he added.
Australia has drawn global attention in
recent months, with the country currently experiencing one of its worst
bush fire seasons on record.
Record high temperatures and drought exacerbated by the climate crisis have ignited blazes that have killed more than two dozen people and destroyed 2,000 homes since September.
Posted by AGORACOM-JC
at 8:09 AM on Wednesday, January 15th, 2020
PUREVAPTMÂ Gen2 reactor was modified to test if it could produce Nano-powders
A key milestone was reached when the proof of concept test successfully produced spherical nano-powders from silicon metal as raw material, with a primary size <500 nanometre (<0.5 µ)
GEN2 PUREVAPTM USED TO SYNTHESIZE SPHERICAL NANO POWDERS (SIZE <0.5 µ) FROM SILICON (Si)
The PUREVAPTM Gen2 reactor was modified to test if it could
produce Nano-powders. A key milestone was reached when the proof of
concept test successfully produced spherical nano-powders from silicon
metal as raw material, with a primary size <500 nanometre (<0.5
µ).
Scanning electron microscope (SEM) images taken of the spherical nano-powders produced by the GEN2 PUREVAPTM
SPHERICAL NANOSCALE SILICON POWDERS KEY TO HIGHER ENERGY DENSITY LI-ION BATTERIES
Spherical Silicon Metal Nano-Powders have been identified
as a key factor that will allow the manufacturing of high-performance
Li-ion batteries using Silicon Metal (Si) anodes needed to deliver on
the research
promises of an almost tenfold (10x) increase in the specific capacity
of the anode, inducing a 20-40% gain in the energy density of Li-ion
batteries. Current manufacturing methods for Silicon Metal Nano-Powders
are expensive, not very scalable and not commercially feasible with US$
30,000/kg1 selling prices. HPQ and PyroGenesis are working to change
that with our new approach.
MASSIVE ENERGY STORAGE DEMAND CANNOT BE MET UNLESS SILICON ANODES REPLACE GRAPHITE
The Li-ion battery is the dominant technology in energy storage while graphite, a fairly low energy density material compared to other anode materials, is the dominant anode material in for Li-Ion batteries.
Present anode technology limits the use of Silicon Metal (Si) powders to a blended form with graphite, resulting in less than 10 wt% Si in Li-ion batteries. This explains the limited performance improvement achieved to date.
A recent report
by Wood Mackenzie Power projects that energy storage deployments are
estimated to grow 1,300% from a 12 Gigawatt-hour market in 2018 to a 158
Gigawatt-hour market in 2024. This is why, even at these low content
levels, demand for Silicon Metal powders is estimated to represent an
addressable market of US $ 1B by 20222 expanding at a CAGR of 38.9% between 2019 – 2024.
HPQ AND PYROGENESIS WELL POSITIONED TO ASSUME FIRST MOVER ADVANTAGE IN THE MARKET
Building upon the success of the modified Gen2 PUREVAP™ proof of concept test, PyroGenesis is designing additional process improvements to the modified Gen2 PUREVAP™ Reactor
in order to demonstrate the commercial potential of the high yield, low
cost process we are developing to produce Spherical Silicon Metal (Si)
nano-powders for the Li-ion batteries markets.
This represents a unique multibillion-dollar business opportunity
that could subsequently lead to the wide scale adoption of our Material
in the battery market. If this occurs, HPQ and PyroGenesis would then
be well positioned to assume a dominant market position. In Q1 2020,
the plan is to have the fully modified Gen2 PUREVAPTM reactor
operational to validate that our approach both works and is scalable
while also producing samples for industry participants and research
institutions.
“PyroGenesis has a long the track record of taking
high-technology projects from proof of concept to global commercial
scalability, so if anybody has the knowhow to use the silicon metal
produced by HPQ PUREVAP™QRR and make spherical Silicon Metal (Si)
nano-powders for use as high-capacity anode materials in the next
generations Li-ion batteries, it is them,†said Bernard Tourillon, President and CEO HPQ Silicon. “Silicon Metal’s potential to meet energy storage demand is undeniable and generating massive investments, as well as, serious industry interest, so our timing could not be better.â€
“We are delighted by the PUREVAP™ Gen2’s recent test results from
which it has established a very important proof of concept for the
production of spherical nano powders for the Lithium-ion batteries
market,†said M. P Peter Pascali, President and CEO of PyroGenesis Canada Inc. “The
success of this testing paves the way for an interesting business
opportunity for both PyroGenesis and HPQ. The goal is to significantly
increase the performance of Li-ion batteries, currently in demand, using
silicon metal (Si) anodes, at a competitive cost. The potential from
the battery and energy storage markets alone is estimated, on first
review, to be quite significant.â€
About Silicon Metal
Silicon Metal (Si) is one of today’s strategic materials needed to
fulfil the renewable energy revolution presently under way. Silicon does
not exist in its pure state; it must be extracted from quartz, one of
the most abundant minerals of the earth’s crust and other expensive raw
materials in a carbothermic process.
About HPQ Silicon
HPQ Silicon Resources Inc. (TSX-V: HPQ) is developing, with PyroGenesis Canada Inc.(TSX-V: PYR), a high-tech company that designs, develops, manufactures and commercializes plasma base processes, the innovative PUREVAPTM “Quartz Reduction Reactors†(QRR),
a truly 2.0 Carbothermic process (patent pending), which will permit
the One Step transformation of Quartz (SiO2) into High Purity Silicon
(Si) at prices that will propagate its considerable renewable energy
potential. The Gen3 PUREVAPTM QRR pilot plant that will validate the commercial potential of the process is scheduled to start during Q1 2020.
HPQ, working with PyroGenesis, is also developing a process that can take the High Purity Silicon (Si) made by the PUREVAPTM
and manufacture Spherical Silicon Metal nano-powders for Next Gen
Li-ion batteries. During Q1 2020, the plan is to validate our game
changing manufacturing approach using a modified Gen2 PUREVAPTM reactor to produce spherical Silicon Metal (Si) nano-powders samples for industry participants and research institutions’.
Concurrently, HPQ is also working with industry leader Apollon Solar to develop a manufacturing capability that uses the High Purity Silicon (Si) made with the PUREVAP™
to make Porous silicon wafers needed for solid-state Li-ion batteries.
The first Silicon wafer should be ready to be ship for testing to a
battery manufacture (under NDA) during Q1 2020.
Finally, with Apollon Solar, we are also looking into developing a
metallurgical pathway of producing Solar Grade Silicon Metal (SoG Si)
that will take full advantage of the PUREVAPTM QRR one-step production of Silicon (Si) material of 4N+ purity with low boron count (< 1 ppm).
All in all, HPQ focus is becoming the lowest cost producer of Silicon
Metal (Si), High Purity Silicon Metal (Si), Spherical Si nano-powders
for Next Gen Li-ion batteries, Porous Silicon Wafers for Solid states
Li-ion batteries, Porous Silicon Powders for Li-ion batteries and Solar
Grade Silicon Metal (SoG-Si).
This News Release is available on the company’s CEO Verified Discussion Forum, a moderated social media platform that enables civilized discussion and Q&A between Management and Shareholders.
Disclaimers:
The Corporation’s interest in developing the PUREVAP™ QRR and any
projected capital or operating cost savings associated with its
development should not be construed as being related to the establishing
the economic viability or technical feasibility of any of the Company’s
Quartz Projects.
This press release contains certain forward-looking statements,
including, without limitation, statements containing the words “may”,
“plan”, “will”, “estimate”, “continue”, “anticipate”, “intend”,
“expect”, “in the process” and other similar expressions which
constitute “forward-looking information” within the meaning of
applicable securities laws. Forward-looking statements reflect the
Company’s current expectation and assumptions and are subject to a
number of risks and uncertainties that could cause actual results to
differ materially from those anticipated. These forward-looking
statements involve risks and uncertainties including, but not limited
to, our expectations regarding the acceptance of our products by the
market, our strategy to develop new products and enhance the
capabilities of existing products, our strategy with respect to research
and development, the impact of competitive products and pricing, new
product development, and uncertainties related to the regulatory
approval process. Such statements reflect the current views of the
Company with respect to future events and are subject to certain risks
and uncertainties and other risks detailed from time-to-time in the
Company’s on-going filings with the security’s regulatory authorities,
which filings can be found at www.sedar.com. Actual results, events, and
performance may differ materially. Readers are cautioned not to place
undue reliance on these forward-looking statements. The Company
undertakes no obligation to publicly update or revise any
forward-looking statements either as a result of new information, future
events or otherwise, except as required by applicable securities laws.
Neither the TSX Venture Exchange nor its Regulation Services
Provider (as that term is defined in the policies of the TSX Venture
Exchange) accepts responsibility for the adequacy or accuracy of this
release.
For further information contact Bernard J. Tourillon, Chairman, President and CEO Tel (514) 907-1011 Patrick Levasseur, Vice-President and COO Tel: (514) 262-9239 http://www.hpqsilicon.com Email: [email protected]
1 Source: Quotation from a producer (Confidential), Media article 2 Source Marketandmakerts.com
Image A SEM X 75000 Resolution
Nano-powder picture taken with a SEM and a resolution X 75,000
Image B SEM X 100000 resolution
SEM Image of Nano-powders taken with X 100,000 resolution
IMAGE C – Energy density of anode materials
Graph representing The Energy Density of anode materials for batteries
Source: GlobeNewswire (January 15, 2020 – 8:00 AM EST)
Posted by AGORACOM-JC
at 8:36 AM on Monday, December 23rd, 2019
Closed a non-brokered private placement of 3,000,000 units at $0.07 per Unit for gross proceeds of $210,000
“Manufacturing Silicon (Si) samples for emerging Li-ion batteries opportunities identified during the latter part of 2019 required additional investments. This financing gives us the flexibility needed to accelerate our battery related R&D efforts in early 2020,†said Bernard Tourillon, President & CEO of HPQ Silicon.
“Manufacturing Silicon (Si) samples for emerging Li-ion batteries
opportunities identified during the latter part of 2019 required
additional investments. This financing gives us the flexibility needed
to accelerate our battery related R&D efforts in early 2020,†said Bernard Tourillon, President & CEO of HPQ Silicon. “Being
able to attract this level of unsolicited investor interest, during the
worst period of the year to raise hard cash funding, gives us great
confidence about 2020 as we strive to deliver the critical Silicon
material required by the surging Li-ion battery market in 2020 and
beyond.â€
Placement Terms: Each Unit is comprised of one (1) common share and
one (1) common share purchase warrant (“Warrant”) of the Company. Each
Warrant will entitle the Subscribers to purchase one common share of the
capital stock of the Company at an exercise price of $ 0.10 for a
period of 36 months from the date of closing of the placement. Each
share issued pursuant to the placement will have a mandatory four (4)
month and one (1) day holding period from the date of closing of the
placement. The Placement is subject to standard regulatory approvals.
In connection with the placement the Company will pay cash finder’s
fee of $15,358 to StephenAvenue Securities Inc. (“StephenAvenueâ€) of
Toronto, Ontario. The Company will also issue 219,400 warrants to
StephenAvenue. Any share purchased through the exercise of the warrants
has the mandatory four (4) month and one (1) day holding period from
the date of closing of the placement and each warrant gives
StephenAvenue the right to purchase one (1) common share at $0.10 for 36
months following the closing of the Placement.
Mrs. Noëlle Drapeau, HPQ Corporate Secretary and a Director has
subscribed for 100,000 Units. Following the completion of the Private
Placement, Mrs. Drapeau will beneficially own or exercise control or
direction over, directly or indirectly, 1,778,416 Common Shares,
representing approximately 0.77% of the issued and outstanding Common
Shares of the Company.
The participation of Mrs. Drapeau in the Private Placement
constitutes a “related party transaction” within the meaning of
Multilateral Instrument 61-101 Protection of Minority Security Holders
in Special Transactions (“MI 61-101”) and Policy 5.9 – Protection of
Minority Security Holders in Special Transactions of the Exchange. In
connection with this related party transaction, the Company is relying
on the formal valuation and minority approval exemptions of respectively
subsection 5.5(a) and 5.7(1)(a) of MI 61-101 as the fair market value
of the portion of the Private Placement subscribed by Mrs. Drapeau does
not exceed 25% of the Company’s market capitalization. The Board of
directors of the Company has approved the Private Placement, including
the participation of Mrs. Drapeau therein, with Mrs. Drapeau abstaining
with respect to his participation.
About Silicon
Silicon (Si) is one of today’s strategic materials needed to fulfil
the renewable energy revolution presently under way. Silicon does not
exist in its pure state; it must be extracted from quartz, one of the
most abundant minerals of the earth’s crust and other expensive raw
materials in a carbothermic process.
About HPQ Silicon
HPQ Silicon Resources Inc. (TSX-V: HPQ) is developing, with PyroGenesis Canada Inc.(TSX-V: PYR), a high-tech company that designs, develops, manufactures and commercializes plasma base processes, the innovative PUREVAPTM “Quartz Reduction Reactors†(QRR),
a truly 2.0 Carbothermic process (patent pending), which will permit
the One Step transformation of Quartz (SiO2) into High Purity Silicon
(Si) at prices that will propagate its considerable renewable energy
potential. The Gen3 PUREVAPTM QRR pilot plant that will validate the commercial potential of the process is scheduled to start during Q1 2020.
HPQ, working with PyroGenesis, is also developing a process that can take the High Purity Silicon (Si) made by the PUREVAPTM
and manufacture Nano-Structure Silicon powders for Next Gen Li-ion
batteries. Starting in Q1 2020, the plan is to validate our game
changing manufacturing approach using a modified Gen2 PUREVAPTM reactor to produce Nanoscale Structure Silicon (Si) powders samples for industry participants and research institutions’.
Concurrently, HPQ is also working with industry leader Apollon Solar to develop a manufacturing capability that uses the High Purity Silicon (Si) made with the PUREVAP™
to make Porous silicon wafers needed for solid-state Li-ion batteries.
The first Silicon wafer should be ready to be ship for testing to a
battery manufacture (under NDA) during Q1 2020.
Finally, with Apollon Solar, we are also looking into developing a
metallurgical pathway of producing Solar Grade Silicon Metal (SoG Si)
that will take full advantage of the PUREVAPTM QRR one-step production of Silicon (Si) material of 4N+ purity with low boron count (< 1 ppm).
All in all, HPQ focus is becoming the lowest cost producer of Silicon
(Si), High Purity Silicon (Si), Nano-Structure Silicon powders for Next
Gen Li-ion batteries, Porous Silicon Wafers for Solid states Li-ion
batteries, Porous Silicon Powders for Li-ion batteries and Solar Grade
Silicon Metal (SoG-Si).
This News Release is available on the company’s CEO Verified Discussion Forum, a moderated social media platform that enables civilized discussion and Q&A between Management and Shareholders.
Disclaimers: The Corporation’s interest in
developing the PUREVAP™ QRR and any projected capital or operating cost
savings associated with its development should not be construed as being
related to the establishing the economic viability or technical
feasibility of the Company’s Roncevaux Quartz Project, Matapedia Area,
in the Gaspe Region, Province of Quebec.
This press release contains certain forward-looking statements,
including, without limitation, statements containing the words “may”,
“plan”, “will”, “estimate”, “continue”, “anticipate”, “intend”,
“expect”, “in the process” and other similar expressions which
constitute “forward-looking information” within the meaning of
applicable securities laws. Forward-looking statements reflect the
Company’s current expectation and assumptions and are subject to a
number of risks and uncertainties that could cause actual results to
differ materially from those anticipated. These forward-looking
statements involve risks and uncertainties including, but not limited
to, our expectations regarding the acceptance of our products by the
market, our strategy to develop new products and enhance the
capabilities of existing products, our strategy with respect to research
and development, the impact of competitive products and pricing, new
product development, and uncertainties related to the regulatory
approval process. Such statements reflect the current views of the
Company with respect to future events and are subject to certain risks
and uncertainties and other risks detailed from time-to-time in the
Company’s on-going filings with the security’s regulatory authorities,
which filings can be found at www.sedar.com. Actual results, events, and
performance may differ materially. Readers are cautioned not to place
undue reliance on these forward-looking statements. The Company
undertakes no obligation to publicly update or revise any
forward-looking statements either as a result of new information, future
events or otherwise, except as required by applicable securities laws.
Neither the TSX Venture Exchange nor its Regulation Services Provider
(as that term is defined in the policies of the TSX Venture Exchange)
accepts responsibility for the adequacy or accuracy of this release.
For further information contact Bernard J. Tourillon, Chairman, President and CEO Tel (514) 907-1011 Patrick Levasseur, Vice-President and COO Tel: (514) 262-9239 Email: [email protected]
Europe approves US$3.5bn for R&D in major push to create sustainable battery manufacturing ecosystem
European Commission gave the nod to a €3.2 billion (US$3.5 billion) plan by major EU states to create a “pan-European†battery ecosystem via a coordinated research push alongside industry operators
The so-called IPCEI – Important Project of Common European Interest, a status conferred to research schemes seen as key in the EU – will see Belgium, Finland, France, Germany, Italy, Poland and Sweden support their respective national battery industries with the Commission’s blessing
The Commission’s MaroÅ¡ Å efÄoviÄ (right) hails the new IPCEI deal with
Economy ministers of Germany (Peter Altmaier, left) and France (Bruno
Le Maire, centre). Image credit: European Commission
European authorities have waved through a multi-billion-euro scheme
to turn the continent into a global hub for green battery making, amid
hints that barriers could be set for foreign imports.
This week, the European Commission gave the nod to a €3.2 billion
(US$3.5 billion) plan by major EU states to create a “pan-Europeanâ€
battery ecosystem via a coordinated research push alongside industry
operators.
The so-called IPCEI – Important Project of Common European Interest, a
status conferred to research schemes seen as key in the EU – will see
Belgium, Finland, France, Germany, Italy, Poland and Sweden support
their respective national battery industries with the Commission’s
blessing.
The €3.2 billion will bankroll projects by 17 sector players across
the seven countries, from BASF to Eneris, BMW, Enel X and Fortum. At a
respective €1.25 billion (US$1.38 billion) and €960 million (US$1.06
billion), German and French battery schemes will reap a sizeable slice
of the funding.
The multi-country project will be structured along the four core
steps of the battery chain, from the more efficient sourcing of ores to
the development of cells and modules, the roll-out of software- and
algorithm-powered battery systems and sounder recycling and dismantling
practices.
The €3.2 billion pot will focus on lithium-ion batteries, both liquid
electrolytes and solid-state systems, and seek to unlock a further €5
billion in private money. If backed projects exceed their revenue
expectations, they will return the extra gains to their respective
member states.
The IPCEI – to be overseen by a body integrated by all seven states –
stems from months of talks between the Economy ministers of Germany
(Peter Altmaier), France (Bruno Le Maire) and others. On social media
this week, the Commission’s MaroÅ¡ Å efÄoviÄ thanked all for their
“coordinationâ€.
In separate statements to the media, also this week, Å efÄoviÄ’s
hinted that EU authorities may not stop at fostering an EU battery
landscape; they could also act to set up hurdles to battery imports from
outside the EU bloc.
Å efÄoviÄ, the Commission’s VP for Interinstitutional Relations, was
asked whether Southeast Asia-made batteries could face EU bans if they
breach green standards the EU is developing:
Europe bets on batteries after PV defeat at the hands of Asia
The European Commission now rallying behind the IPCEI may have begun
its term only this month but its battery manufacturing ambitions go back
a longer way. Å efÄoviÄ, who was also part of the earlier cabinet,
launched the European Battery Alliance in 2017 and continues to head the
group.
Whether the new €3.2 billion research push and the broader Alliance
that underpins it can make Europe a serious global contender remains to
be seen. The continent has already waged, and largely lost, a similar
pulse over solar manufacturing in the past decade.
Attempts since to revive EU solar makers, including a vow by French president Emmanuel Macron to bring back the “championsâ€, have been greeted with scepticism. Approached for a recent PV Tech Power feature, BNEF analyst Jenny Chase said PV making in Europe “doesn’t make sense†anymore.
However, Chase and several other interviewees did feel battery making
could prove a better wager for Europe. “Batteries are a bit more
nascent and interesting. The complexity, the role of software, may
create more potential to keep highly paid jobs in Europe,†she remarked.
The view emerged as various battery factory schemes made strides in Europe this year. Northvolt’s plans to create a 56GWh fleet of lithium cell factories in Europe have been followed by Tesla’s ambitions for a gigafactory near Berlin that would make “batteries, powertrains and vehiclesâ€.
As the Commission itself insisted this week, Europe’s pitch for
battery know-how comes with a specific focus on reduced environmental
footprint. Its statement explicitly linked the efforts to nurture a
battery sector to the EU’s broader transition towards climate
neutrality.
The energy storage focus of the EU’s climate-minded policymakers has
been apparent with earlier decisions this year. Last month, the European Investment Bank voted to shift its multi-billion-euro energy lending capabilities to prioritise storage batteries, grid upgrades and others.
As Greg McDougall prepared to fly the world’s first all-electric
commercial aircraft Tuesday morning, he said “nervous†wasn’t quite the
word to describe how he was feeling.
The fact that the Harbour Air CEO would be the first person to take
the modified de Havilland Beaver on a full test flight didn’t faze him,
nor did knowledge of a charging glitch the night before.
McDougall had gone for a dinner break Monday evening while a crew of
designers and engineers stared at their computers with furrowed brows,
and he returned later to find them smiling and laughing, crisis averted.
“The emotion isn’t necessarily excitement, it’s more sort of anticipation and focus,†he said.
Harbour Air pilot and CEO Greg McDougall talks to media after
completing the world’s first all-electric, zero-emission commercial
aircraft test flight in a 62 year old de Havilland DHC-2 Beaver from
Vancouver International Airports South Terminal on the Fraser River in
Richmond on Tuesday. DON MACKINNON / AFP via Getty Images
With the sun hanging low over the Fraser River in Richmond, McDougall
shifted the throttle into gear and took off. After landing, he said it
felt just like flying any other plane, only with more kick.
“For me, that flight was just like flying a Beaver but it was a
Beaver on electric steroids,†he said, adding he had to throttle back in
order to delay the takeoff to be in line with about a dozen cameras.
“It wanted to fly. With the tailwind it was going to leap off the water.â€
The brief but successful test flight marked a significant win for
Harbour Air and partner magniX, which designed the electric motor, in
the race to electrify commercial aviation fleets.
Harbour Air pilot and CEO Greg McDougall flies the world’s
first all-electric, zero-emission commercial aircraft during a test
flight in a de Havilland DHC-2 Beaver from Vancouver International
Airports South Terminal on the Fraser River in Richmond on Tuesday. DON MACKINNON / AFP via Getty Images
Dozens of companies are working on electric planes, including Boeing
and Airbus. Israeli company Eviation unveiled a nine-seat, all-electric
plane named “Alice†at the Paris Air Show in June, which also happens to
be a magniX project.
Roei Ganzarski, CEO of Seattle-based engineering firm magniX,
described the test flight as the beginning of a revolution in aviation.
In 1903, the Wright brothers made history with the first successful
flight and, in 1939, the Heinkel jet launched the jet age, he said.
“Since 1939, we’ve pretty much stayed stable. Today that team made history,†Ganzarski said, gesturing toward the design team.
Harbour Air announced in March that it had partnered with magniX with
the goal of becoming the world’s first all-electric airline.
The 62-year-old Beaver was outfitted with a 750-horsepower electric
motor, which gives it capacity to fly about 160 kilometres before
needing a recharge.
Harbour Air pilot and CEO Greg McDougall flies the world’s
first all-electric, zero-emission commercial aircraft during a test
flight in a de Havilland DHC-2 Beaver from Vancouver International
Airports South Terminal on the Fraser River in Richmond on Tuesday. DON MACKINNON / AFP via Getty Images
Weight, altitude and storage remain the biggest barriers to flying
electric. A mid-sized passenger plane weighs 100 times as much as a
mid-sized car and the battery technology hasn’t quite adjusted to the
aviation market.
Fuel also remains about 40 to 50 times more power dense than
batteries, Ganzarski said. But the team expects innovation in the
battery industry to continue in the same way for aviation as it has for
electric cars. The key will be developing batteries that are more
compact at the same time that they are more powerful.
The test flight used lithium-ion batteries because they are the most
“tried and true,†but there are already others on the market that are
more powerful, McDougall said.
“The evolution of lithium batteries is constant and there are
literally billions of dollars being poured into that technology as we
speak,†he said.
In the meantime, Ganzarski said the market is there for electric planes to take off around the world.
Harbour Air Pilot and CEO Greg McDougall taxis to the water to
fly the world’s first all-electric, zero-emission commercial aircraft
during a test flight in a de Havilland DHC-2 Beaver from Vancouver
International Airports South Terminal on the Fraser River in Richmond on
Tuesday. DON MACKINNON / AFP via Getty Images
Forty-five per cent of flights worldwide cover distances of 800
kilometres or less, and five per cent cover distances under 160
kilometres, he said.
Exactly when the electric aircraft will be approved for commercial
flight is unclear as Transport Canada will be entering new territory.
But McDougall said the goal is to get passengers on Harbour Air electric flights within two years.
The operating costs are between 50 and 80 per cent lower than
combustion engines and ultimately, that will mean lower ticket prices
for passengers, he said.
Harbour Air covers 12 routes and operates about 30,000 flights a year between Vancouver, Victoria, Seattle and other locations.
Posted by AGORACOM-JC
at 8:44 AM on Tuesday, December 10th, 2019
There is no shortage of small cap companies claiming they want to
supply materials to the Lithium-Ion battery market …. but none of them
have:
The Silicon “Holy Grail”;
A fully functioning Pilot Plant coming online in Q1 2020;
Are in NDA discussions with a battery manufacturer;
Have not one but TWO world class technology partners
Have not one but THREE products to address different battery needs
HPQ Silicon (HPQ:TSXV) has all of these going in its favour and wasn’t afraid to say so in its latest press release. In fact, HPQ’s CEO stated the following outright: Â
“We now have even greater confidence in our joint ability to deliver the critical Silicon material required by the surging Li-ion battery market in 2020 and beyond.†Â
With the Company’s Pilot Plant already financed thanks to significant investments from both the Quebec government and technology partner, PyroGenesis, HPQ’s path in 2020 is set and so far ahead of everyone else that it warrants taking them very seriously. Â
KEY 2020 PUREVAP™ DEVELOPMENTS THAT WILL DRIVE HPQ FORWARD
1. Gen 3 PUREVAP™ QRR Pilot Plant operational Q1 2020
PyroGenesis Canada Inc.(TSX-V: PYR) (“PyroGenesisâ€) informed HPQ that the Pilot Plant commissioning and testing program will start in full force Q1 2020.
“As previously discussed, a good part of the past year saw us
divert assets from paying projects to non-paying projects. This enabled
PyroGenesis to secure the large breakout contract it recently announced
as well as the upcoming Navy project, which was also recently
announced. As a result, our signed backlog increased from $6MM in Q2
2019 to almost $30MM at the end of Q3 2019. The successful closing of
the Navy project will further increase this backlog by an additional
$13MM. This increase in backlog de risks the company significantly, all
to the benefit of our clients, like HPQ, and their shareholders,†said P. Peter Pascali, President and CEO of PyroGenesis Canada Inc.
“We are now in position to re-focus, and accelerate, the PUREVAP
initiative focus on the multitude of opportunities that have come to
light since defining our original mandate. As a result, we are
confident that HPQ is going to make some significant headway over the
coming months, the least of which will be to start the Gen3 PUREVAPTMPlant commissioning and testing program.
“HPQ congratulates our partner P. Peter Pascali and his
PyroGenesis team on their $20 million contract award, which once again
proves their ability to commercialize high tech applications on a global
scale,†said Bernard Tourillon, President & CEO of HPQ Silicon. “With
the PUREVAPTM Pilot Plant becoming operational in Q1 2020, we now have
even greater confidence in our joint ability to deliver the critical
Silicon material required by the surging Li-ion battery market in 2020
and beyond.â€
The PUREVAP™QRR technology is a unique
carbothermic process that will allow HPQ to have a significant impact,
short and long term, on the following Silicon (Si) markets and
industries:
2. Nanoscale Structure Silicon Powders manufacturing for Li-ion batteries
HPQ and PyroGenesis recently announced plans
regarding the creation of a Joint Venture to produce Nanoscale
Structure Silicon (Si) powders for Li-ion batteries. In Q1 2020, the
plan is to have a modified Gen2 PUREVAPTM reactor operational,
in parallel with the Pilot Plant, validating that our approach works and
producing Nanoscale Structure Silicon (Si) powders samples for industry
participants and research institutions.
Nanoscale Structure Silicon Powders improve Li-ion battery
performance but high-performance Silicon (Si) anodes made using powders
selling for US$ 30,000/kg1 are not commercially feasible. Combining HPQ
PUREVAP™Quartz Reduction Reactor (“QRR”) technology
with PyroGenesis Plasma Atomization knowhow to produce Nanoscale
Structure Silicon (Si) powders represents a unique multibillion-dollar
business opportunity that could subsequently lead to their wide scale
adoption in the battery market. If this occurs, HPQ and PyroGenesis
would then be well positioned to assume a dominant market position.
Silicon’s potential to meet energy storage demand is undeniable and generating massive investments, as well as, serious industry interest, so HPQ and PyroGenesis timing could not be better. A recent report
by Wood Mackenzie Power projects that energy storage deployments are
estimated to grow 1,300% from a 12 Gigawatt-hour market in 2018 to a 158
Gigawatt-hour market in 2024. An estimated US$71 billion in
investments will be made into storage systems where batteries will make
up the lion’s share of capital deployment.
3. Porous Silicon wafers for solid state Li-ion Batteries
During Q3 2019, HPQ started discussions with a battery manufacturer regarding using Silicon produced by our Gen3 PUREVAPTM QRR
pilot plant to manufacture porous silicon wafers needed for their
operations. Furthermore, HPQ negotiated with Apollon Solar an amended
agreement that broadens the scope of the 2017 collaboration
to include, going forward, evaluating manufacturing porous Silicon
wafers for solid-state Li-Ion batteries combining their patented process
with Silicon (Si) produced with HPQ PUREVAPTMQRR.
In November 2019,
HPQ and its partner Apollon Solar SAS, acting as one party, signed a
non-disclosure agreement (“NDAâ€) with the battery manufacturer for the
purposes of exchanging technical information and sending testing
materials. We are still at the beginning of the process of exchanging
technical information and yet we are already looking into the
possibility of supplying the battery manufacturer with the first Silicon
wafer for testing by year end or beginning of 2020.
The probabilities that the discussions started under NDA will evolve
during Q1 2020 to a more formal process are very encouraging.
4. High Purity Silicon Oxide (SiOx) Nanopowders for Li-ion Batteries
In addition to its wafer work, HPQ intends to study, during H1 2020,
the possibility of utilizing Apollon Solar patented process to optimize
the porous structure of HPQ PUREVAPTM Silicon between
Microporous (pore size <5nm), Mesoporous (pore size 5nm – 50nm) and
Macroporous (pore size >50nm) in order to evaluate the potential of
producing, low cost, High Purity SiOx Nanopowders.
The infancy of Si anode technology base on Nanoscale Structure
Silicon Powders explains why presently only limited performance
improvement are obtained using High Purity Silicon Oxide (SiOx)
Nanopowders, selling for about US$ 100/kg2, used in a blended form with
graphite in traditional Li-ion batteries. The quantity used is
typically less than 5 wt%
of the material used to make the batteries, yet even at these levels of
utilization, this is estimated to represent an addressable market of US
$ 1B by 20223 expanding at a CAGR of 38.9% between 2019 – 2024.
5. Standard purity Silicon (“Siâ€) (up to 2N Purity)
Up to now, market participants with significant quartz assets have
shown a keen interest in our process. As such, HPQ anticipates silicon
industry participants will show a keen interest in PUREVAPTM once the
Pilot Plant is operational and validates our unique operational
advantages.
The addressable market for Mg Si is in the multi-billion range with
demand projected to increase by a CAGR of 19% over the next 5 years
(US$ 7.5B in 2018 to US$ 12B in 2023)4. The bulk of the growth is
expected to come from the 2N segment of the market, where the PUREVAP™ QRR process should have massive opex and capex advantage over traditional manufacturers.
6. Solar Grade Silicon using a PUREVAPTM UMG metallurgical process
The market for Solar Grade Silicon is massive and evolving at such an
accelerated pace that some of our original product development
hypothesis are not as relevant as before. Having said this, working
with Apollon Solar, we strongly believe that if the PUREVAP™QRR can
produce, as we believe it can, Si material of 4N+ purity with low boron
count (< 1 ppm), we can develop a very competitive UMG Metallurgical
route to produce Solar Grade Silicon.
OTHER CORPORATE NEWS
1. ANNUAL MINIMUM ROYALTIES PAYMENT DUES TO PYROGENESIS
Under the terms of our Agreement with PyroGenesis, HPQ was obliged to
pay minimum royalty payment obligations of $150,000 for 2018 and
$200,000 for 2019. Due to delays in the project beyond HPQ’s control,
PyroGenesis has agreed to wave HPQ minimum royalty payment obligations
for 2018 and 2019. This represents a Q4 2019 reduction in HPQ current
liabilities of $350,000. Minimum royalties’ obligations will resume
with the scheduled 2020 payment to PyroGenesis.
2. WARRANTS EXTENSION
HPQ Board of Directors has authorized the application to the TSX
Venture Exchange (the “Exchangeâ€) for approval of the extension, until
January 31, 2022, of the exercise date of 4,152,000 outstanding common
share purchase warrants (the “Warrantsâ€) issued by the Company July 17,
2018. The 4,152,000 Warrants are set to expire on January 17, 2020 and
have an exercise price of $0.155. As of today, none of these purchase
warrants has been exercised. All other terms and conditions of the
Warrants will remain the same. The proposed extension is conditional
upon the receipt of the approval of the Exchange.
3. DEBT FOR SHARES
In accordance with the agreement between HPQ-Silicon and Agoracom,
entered into on July 15, 2018 for the term ending July 15, 2020,
HPQ-Silicon board has approved the issuance of 156,944 common shares at a
deemed price of 9 cents per share to pay $14,125 for services rendered
during the period from January 16, 2019 ending April 15, 2019, HPQ board
has also approved the issuance of 156,944 common shares at a deemed
price of 9 cents per share to pay $14,125 for services rendered during
the period from April 16, 2019 ending July 15, 2019, and HPQ board has
also approved the issuance of 166,176 common shares at a deemed price of
8.5 cents per share to pay $14,125 for services rendered during the
period from July 16, 2019 ending October 15, 2019. Each share issued
pursuant to the debt settlement will have a mandatory four (4) month and
one (1) day holding period from the date of closing.
About Silicon
Silicon (Si) is one of today’s strategic materials needed to fulfil
the renewable energy revolution presently under way. Silicon does not
exist in its pure state; it must be extracted from quartz, one of the
most abundant minerals of the earth’s crust and other expensive raw
materials in a carbothermic process.
About HPQ Silicon
HPQ Silicon Resources Inc. is a TSX-V listed company developing, in
collaboration with industry leader PyroGenesis (TSX-V: PYR) the
innovative PUREVAPTM “Quartz Reduction Reactors†(QRR), a truly
2.0 Carbothermic process (patent pending), which will permit the
transformation and purification of quartz (SiO2) into Metallurgical
Grade Silicon (Mg-Si) at prices that will propagate its significant
renewable energy potential.
HPQ is also working with industry leader Apollon Solar to develop: Porous silicon wafers manufacturing using PUREVAP™
Silicon (PVAP Si) that can be used as anode for all-solid-state and
Li-ion batteries; and a metallurgical pathway of producing Solar Grade
Silicon Metal (SoG Si) that will take full advantage of the PUREVAPTM QRR
one-step production of high purity silicon (Si) and significantly
reduce the Capex and Opex associated with the transformation of quartz
(SiO2) into SoG-Si.
HPQ focus is becoming the lowest cost producer of Silicon (Si), High
Purity Silicon (Si), Porous Silicon Wafers and Solar Grade Silicon Metal
(SoG-Si). The pilot plant equipment that will validate the commercial
potential of the process is on schedule to start in 2019.
This News Release is available on the company’s CEO Verified Discussion Forum, a moderated social media platform that enables civilized discussion and Q&A between Management and Shareholders.
Disclaimers:
The Corporation’s interest in developing the PUREVAP™ QRR and any
projected capital or operating cost savings associated with its
development should not be construed as being related to the establishing
the economic viability or technical feasibility of the Company’s
Roncevaux Quartz Project, Matapedia Area, in the Gaspe Region, Province
of Quebec.
This press release contains certain forward-looking statements,
including, without limitation, statements containing the words “may”,
“plan”, “will”, “estimate”, “continue”, “anticipate”, “intend”,
“expect”, “in the process” and other similar expressions which
constitute “forward-looking information” within the meaning of
applicable securities laws. Forward-looking statements reflect the
Company’s current expectation and assumptions and are subject to a
number of risks and uncertainties that could cause actual results to
differ materially from those anticipated. These forward-looking
statements involve risks and uncertainties including, but not limited
to, our expectations regarding the acceptance of our products by the
market, our strategy to develop new products and enhance the
capabilities of existing products, our strategy with respect to research
and development, the impact of competitive products and pricing, new
product development, and uncertainties related to the regulatory
approval process. Such statements reflect the current views of the
Company with respect to future events and are subject to certain risks
and uncertainties and other risks detailed from time-to-time in the
Company’s on-going filings with the security’s regulatory authorities,
which filings can be found at www.sedar.com. Actual results, events, and
performance may differ materially. Readers are cautioned not to place
undue reliance on these forward-looking statements. The Company
undertakes no obligation to publicly update or revise any
forward-looking statements either as a result of new information, future
events or otherwise, except as required by applicable securities laws.
Neither the TSX Venture Exchange nor its Regulation Services
Provider (as that term is defined in the policies of the TSX Venture
Exchange) accepts responsibility for the adequacy or accuracy of this
release.
For further information contact Bernard J. Tourillon, Chairman, President and CEO Tel (514) 907-1011 Patrick Levasseur, Vice-President and COO Tel: (514) 262-9239 http://www.hpqsilicon.com Email: [email protected]
1 Source: Quotation from a producer (Confidential), Media article
2 Advanced Battery Materials, Chapter 5: Practically Relevant Research on Silicon-Based Lithium-Ion Battery Anodes (page 271)
3 Source Marketandmakerts.com
4 CRU – Silicon Market Outlook – November 14, 2018 (Pages 20 – 23)
Posted by AGORACOM-JC
at 5:01 PM on Monday, November 25th, 2019
While Nanoscale Structure Silicon Powders improve Li-ion battery
performance, high performance Silicon anodes are not presently
commercially feasible due to high manufacturing costs. Specifically,
two major issues have been identified as major impediments to commercial
feasibility;
1. The cost of the high purity Silicon feed material needed
2. The cost of transforming Silicon into Nanoscale Structure Silicon Powders for Li-ion batteries
HPQ Silicon and Pyrogenesis might have the solution…
Combining the HPQ PUREVAP™Quartz Reduction Reactor
technology with PyroGenesis Plasma Atomization knowhow to manufacture
Nanoscale Structure Silicon powders, could potentially resolve these 2
issues and lead the way to full commercialization of Nanoscale Structure
Silicon Powders. If successful, that should subsequently lead to their
wide scale adoption in the battery space.
If this occurs it would go without saying, HPQ and PyroGenesis would be well positioned to assume a market leading role.
Grab your favourite beverage and watch this interview with HPQ CEO Bernard Tourillon.
Posted by AGORACOM-JC
at 8:18 AM on Monday, November 25th, 2019
Actively evaluating a joint venture to manufacture Nanoscale Structure Silicon (Si) powders for next generation Li-ion Si batteries.
While Nanoscale Structure Silicon Powders improve Li-ion battery performance, high performance Silicon (Si) anodes are not presently commercially feasible due to high manufacturing costs.Â
Specifically, two major issues have been identified as major impediments to commercial feasibility
The cost of the high purity Silicon feed material needed, and the cost of transforming Silicon into Nanoscale Structure Silicon Powders for Li-ion batteries.
NANOSCALE STRUCTURE SILICON POWDERS SELLING FOR US$ 30,000/Kg1
While Nanoscale Structure Silicon Powders improve Li-ion battery
performance, high performance Silicon (Si) anodes are not presently
commercially feasible due to high manufacturing costs. Specifically,
two (2) major issues have been identified as major impediments to
commercial feasibility. The cost of the high purity Silicon feed
material needed, and the cost of transforming Silicon into Nanoscale
Structure Silicon Powders for Li-ion batteries.
Combining the HPQ PUREVAP™Quartz Reduction Reactor
(“QRR”) technology with PyroGenesis Plasma Atomization knowhow to
manufacture Nanoscale Structure Silicon (Si) powders, could potentially
resolve these 2 issues and lead the way to full commercialization of
Nanoscale Structure Silicon Powders. If successful, that should
subsequently lead to their wide scale adoption in the battery space. If
this occurs, HPQ and PyroGenesis would then be well positioned to
assume a market leadership position.
Presently, Silicon powders is used in a blended form with graphite but its content is typically less than 5 wt%,
which reflects the infancy of Si anode technology and explains the
limited performance improvement achieved to date. Even at these levels,
however, this is estimated to represent an addressable market of US $
1B by 20222 expanding at a CAGR of 38.9% between 2019 – 2024.
The addressable market growth could be exponentially higher than projected as research suggests
that replacing graphite materials with Nanoscale Structure Silicon (Si)
powders in next generation Li-ion Batteries promises an almost tenfold
(10x) increase in the specific capacity of the anode, inducing a 20-40%
gain in the energy density of Li-ion batteries.
“PyroGenesis, the inventor of Plasma Atomization, has more than
20 years of experience manufacturing plasma atomized metal powders, so
if anybody has the knowhow to use silicon materials produced from HPQ
PUREVAP™QRR and manufacture Nanoscale Structure Silicon (Si) that can be
used as high-capacity anode materials for next generations Li-ion
batteries, it is them,†said Bernard Tourillon, President and CEO HPQ Silicon. “Silicon’s potential to meet energy storage demand is undeniable and generating massive investments, as well as, serious industry interest, so our timing could not be better.â€
“We are taken by the potential of this joint venture as it checks
all of the boxes we consider before evaluating a new business line: It
relates to our current activities, the market although niche is
potentially massive, our expertise would be game changing, and the risk
is low,†said Peter Pascali, President and CEO of PyroGenesis Canada Inc.
“We are equally excited about the market drivers for this product. The
potential from the battery and energy storage markets alone is
estimated, on first review, to be in the multi-billions of dollars. I
look forward to evaluating this opportunity more closely.â€
RENEWABLE AND EV DEMAND INDICATE GLOBAL ENERGY STORAGE MARKET READY TO EXPLODE
At current growth rates of 2% per year, global energy consumption will be an estimated 125,000 Terawatt-hours 2020, which is 800,000 times more than the estimated storage capacity.A recent report
by Wood Mackenzie Power projects that energy storage deployments are
estimated to grow 1,300% from a 12 Gigawatt-hour market in 2018 to a 158
Gigawatt-hour market in 2024. An estimated US$71 billion in
investments will be made into storage systems where batteries will make
up the lion’s share of capital deployment.
As reported by CNBC,
private Venture Capital backed firms are also exploring the use of
silicon in batteries and are positioning to provide the auto industry
with the solutions needed to substantially improve vehicle performance.
About Silicon
Silicon (Si) is one of today’s strategic materials needed to fulfil
the renewable energy revolution presently under way. Silicon does not
exist in its pure state; it must be extracted from quartz, one of the
most abundant minerals of the earth’s crust and other expensive raw
materials in a carbothermic process.
About HPQ Silicon
HPQ Silicon Resources Inc. is a TSX-V listed company developing, in
collaboration with industry leader PyroGenesis (TSX-V: PYR) the
innovative PUREVAPTM “Quartz Reduction Reactors†(QRR), a truly
2.0 Carbothermic process (patent pending), which will permit the
transformation and purification of quartz (SiO2) into Metallurgical
Grade Silicon (Mg-Si) at prices that will propagate its significant
renewable energy potential.
HPQ is also working with industry leader Apollon Solar to develop: Porous silicon wafers manufacturing using PUREVAP™
Silicon (PVAP Si) that can be used as anode for all-solid-state and
Li-ion batteries; and a metallurgical pathway of producing Solar Grade
Silicon Metal (SoG Si) that will take full advantage of the PUREVAPTM QRR
one-step production of high purity silicon (Si) and significantly
reduce the Capex and Opex associated with the transformation of quartz
(SiO2) into SoG-Si.
HPQ focus is becoming the lowest cost producer of Silicon (Si), High
Purity Silicon (Si), Porous Silicon Wafers and Solar Grade Silicon Metal
(SoG-Si). The pilot plant equipment that will validate the commercial
potential of the process is on schedule to start in 2019.
This News Release is available on the company’s CEO Verified Discussion Forum, a moderated social media platform that enables civilized discussion and Q&A between Management and Shareholders.
Disclaimers:
The Corporation’s interest in developing the PUREVAP™ QRR and any
projected capital or operating cost savings associated with its
development should not be construed as being related to the establishing
the economic viability or technical feasibility of the Company’s
Roncevaux Quartz Project, Matapedia Area, in the Gaspe Region, Province
of Quebec.
This press release contains certain forward-looking statements,
including, without limitation, statements containing the words “may”,
“plan”, “will”, “estimate”, “continue”, “anticipate”, “intend”,
“expect”, “in the process” and other similar expressions which
constitute “forward-looking information” within the meaning of
applicable securities laws. Forward-looking statements reflect the
Company’s current expectation and assumptions and are subject to a
number of risks and uncertainties that could cause actual results to
differ materially from those anticipated. These forward-looking
statements involve risks and uncertainties including, but not limited
to, our expectations regarding the acceptance of our products by the
market, our strategy to develop new products and enhance the
capabilities of existing products, our strategy with respect to research
and development, the impact of competitive products and pricing, new
product development, and uncertainties related to the regulatory
approval process. Such statements reflect the current views of the
Company with respect to future events and are subject to certain risks
and uncertainties and other risks detailed from time-to-time in the
Company’s on-going filings with the security’s regulatory authorities,
which filings can be found at www.sedar.com. Actual results, events, and
performance may differ materially. Readers are cautioned not to place
undue reliance on these forward-looking statements. The Company
undertakes no obligation to publicly update or revise any
forward-looking statements either as a result of new information, future
events or otherwise, except as required by applicable securities laws.
Neither the TSX Venture Exchange nor its Regulation Services
Provider (as that term is defined in the policies of the TSX Venture
Exchange) accepts responsibility for the adequacy or accuracy of this
release.
For further information contact Bernard J. Tourillon, Chairman, President and CEO Tel (514) 907-1011 Patrick Levasseur, Vice-President and COO Tel: (514) 262-9239 http://www.hpqsilicon.com Email: [email protected]
____________________ 1 Source: Quotation from a producer (Confidential), Media article 2 Source Marketandmakerts.com
Huge Battery Investments Drop Energy-Storage Costs Faster Than Expected, Threatening Natural Gas
Jeff McMahon Contributor
From Chicago, I write about climate change, green technology, energy.
The global energy transition is happening faster than the models
predicted, according to a report released today by the Rocky Mountain
Institute, thanks to massive investments in the advanced-battery
technology ecosystem.
Previous and planned investments total $150 billion through 2023, RMI
calculates—the equivalent of every person in the world chipping in $20.
In the first half of 2019 alone, venture-capital firms contributed $1.4
billion to energy storage technology companies.
“These investments will push both Li-ion and new battery technologies
across competitive thresholds for new applications more quickly than
anticipated,†according to RMI. “This, in turn, will reduce the costs of
decarbonization in key sectors and speed the global energy transition
beyond the expectations of mainstream global energy models.â€
RMI’s “Breakthrough Batteriesâ€
report anticipates “self-reinforcing feedback loops†between public
policy, manufacturing, research and development, and economies of scale.
Those loops will drive battery performance higher while pushing costs
as low as $87/kWh by 2025. (Bloomberg put the current cost at $187/kwh earlier this year.)
“These changes are already contributing to cancellations of planned
natural-gas power generation,†states the report. “The need for these
new natural-gas plants can be offset through clean-energy portfolios
(CEPs) of energy storage, efficiency, renewable energy, and demand
response.â€
New natural-gas plants risk becoming stranded assets (unable to
compete with renewables+storage before they’ve paid off their capital
cost), while existing natural-gas plants cease to be competitive as soon
as 2021, RMI predicts.
RMI analysts expect lithium-ion to remain the dominant battery
technology through 2023, steadily improving in performance, but then
they anticipate a suite of advanced battery technologies coming online
to cater to specific uses:
Heavier transport will use solid-state batteries such as rechargeable
zinc alkaline, Li-metal, and Li-sulfur. The electric grid will adopt
low-cost and long-duration batteries such as zinc-based, flow, and
high-temperature batteries. And when EVs become ubiquitous—raising the
demand for fast charging—high-power batteries will proliferate.
Many of these alternative battery technologies will leap from the lab to the marketplace by 2030, the report predicts.
Some of these changes will be driven outside the U.S., specifically
in countries like India, Indonesia and the Philippines that prefer
smaller vehicles.
RMI analyzed the four major energy-storage markets—China, the U.S.,
the European Union and India—and found two major trends that apply to
each: 1) “Mobility markets are driving the demand and the cost
declines,†and 2) “the nascent grid storage market is about to take
off.â€
China dominates the market for electric vehicles and solar
photovoltaic technologies, thanks to early, large and consistent
investment. The RMI report notes that China also has an advantage in
upstream ore processing, critical materials and component manufacturing.
The report does not, however, explore what happens should China
weaponize those advantages in the trade war, restricting or embargoing
imports of critical materials to the U.S.
“An expanded trade war looms large over all industries and the entire
global economy and is not in the interest of either the U.S. or China,
and it is unproductive to speculate on the potential scope or outcomes
of a battery or minerals-related action,†two of the report’s four
authors, Charlie Bloch and James Newcomb, told me in an email.
“China is no doubt aware of the long-term economic opportunity
associated with being a reliable manufacturer of batteries and the risk
that escalating trade war actions by either side could damage the
US-China economic relationship in this important area.â€
They added that manufacturers, investors, start-ups, and government
officials are taking steps to mitigate the potential impact of such a
risk, such as continued development of low- and no-cobalt batteries
chemistries.
Global cumulative energy storage installations.
RMI image/BNEF data
Source:
https://www.forbes.com/sites/jeffmcmahon/2019/10/29/huge-battery-investments-drop-energy-storage-costs-threaten-natural-gas-industry/#21494b5f7c3b
