NEW YORK, July 19, 2016 /PRNewswire/ --
As priorities over our energy sources are shifting, innovation
in new energy technology sectors is growing rapidly. One of the
most interesting developments has been in the lithium-ion batteries
market, which is already being used in a wide array of
applications. These are the companies in the space domestically and
internationally. China BAK Battery Inc. (NASDAQ:
CBAK), Oakridge Global Energy Solutions, Inc. (OTC:
OGES), FMC Corp (NYSE: FMC), Albemarle Corporation
(NYSE: ALB), Sociedad Quimica y Minera de
Chile (NYSE: SQM)
A recently published research on the global battery energy
storage market for smart grid by Technavio, a research
company which focuses on emerging market trends, claims that
lithium-ion batteries are to dominate the battery energy storage
market. The research into detail describing the growth of the 3
segments in the global battery energy storage market for smart
grid: Li-ion batteries, Lead-acid batteries and Sodium sulfur
batteries, claiming that the li-ion batteries segment in particular
is projected to reach 3,130 MW by 2020, growing at a CAGR of close
to 72%.
Li-ion batteries have a lot of advantages. Lithium is the third
lightest element, which leads to the production high capacity of
batteries. In addition, Li-ion batteries use non-aqueous
electrolytes that offer high operating voltages. The challenge has
been high costs. Companies like China BAK Battery Inc.
(NASDAQ: CBAK), through its subsidiaries, is engaged in the
manufacture, commercialization and distribution of various standard
and customized lithium ion (Li-ion) high power rechargeable
batteries. It manufactures over five types of Li-ion rechargeable
batteries, such as aluminum-case cell, cylindrical cell, lithium
polymer cell and high-power lithium battery cell. Its customers
include electric vehicle manufacturers, electric bicycle
manufacturers and battery pack manufacturers.
These batteries can be used in a variety of ways, and small
companies like Oakridge Global Energy Solutions, Inc.
(OTCQB: OGES) have developed batteries strong enough to be used on
machines as well. Oakridge Global Energy Solutions have several
battery lines: the Pro Series for Golf Cars and the Patriot Series
for the high-end hobby market, which have now been followed by the
Freedom Series for living space power storage applications, and the
Liberty Series of lightweight, highly powerful starter motor
batteries for motorcycles, jet skis, snowmobiles, boats, cars and
trucks. Oakridge Global Energy's battery systems comprised of large
and small format prismatic lithium cells.
Oakridge Global Energy Solutions, Inc. stated earlier
this year that the, "product development team has been working
diligently to develop additional products for release throughout
the balance of 2016. Additional capacity has been added by
nearly tripling the capacity in cell formation, and much more high
speed automation equipment is on order for delivery before the end
of 2016."
As of today, lithium batteries are most widely used in our
smartphones and tablets. Due to the demand of lithium,
manufacturers and marketers of specialty chemicals, who are the
suppliers of lithium, like FMC Corp (NYSE: FMC) and
Sociedad Quimica y Minera de Chile (NYSE: SQM) have also benefited from
the new segment of lithium batteries. FMC is consistently
innovating when it comes to lithium batteries, to find better ways
to meet world's growing demand for longer lasting batteries for
tablets, phones, power tools, EV cars and even power plants.
Sociedad Quimica y Minera de Chile, which claims that it is the world's
largest lithium producer, grabbed the opportunity to produce in
Argentina, as the new local
government plans to open up its reserves. The company agreed to pay
$25 million to Lithium Americas Corp.
for 50% of Minera Exar, which owns a
project in northern Argentina.
This is a project that may, according to local studies, produce
40,000 metric tons of a year for more than 30 years.
Then there is Albemarle Corporation (NYSE: ALB),
manufacturer and marketer of specialty chemicals across a range of
end markets. In 2015 has demonstrated just how important the
lithium market is, by acquiring Rockwood Holdings, parent company
of Rockwood Lithium for $6.2 billion.
Currently Albemarle is trading at all-time highs.
The investments made in lithium-ion batteries, to make them last
longer, and reducing production costs, are now flourishing. These
batteries, applied to the wide range machines and gadgets, are the
future and the industry in many ways, is still at its early
stages.
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