Ferroglobe & Coreshell Sign a Memorandum of Understanding to Deliver World’s First Battery-Grade Metallurgical Silicon for Electric Vehicles
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The partnership between Ferroglobe PLC and Coreshell represents a significant step in the evolution of electric vehicle (EV) battery technology. The introduction of battery-ready metallurgical silicon to replace graphite and silane-based silicon could potentially disrupt the market by addressing the cost and range challenges currently faced by the EV industry. The ability to produce high-energy-density batteries at a lower cost could increase the competitiveness of electric vehicles, thereby potentially accelerating the adoption rate of EVs and influencing the demand for traditional energy sources.
Moreover, compliance with the U.S. Inflation Reduction Act suggests strategic alignment with current regulatory incentives, potentially providing the partnership with a competitive edge in the U.S. market. This development could stimulate further investment in the EV sector and may lead to a realignment of supply chains towards more domestically sourced materials, in line with the act's provisions.
The memorandum of understanding between Ferroglobe and Coreshell could have financial implications for both companies and their investors. By aiming to produce the lowest cost, longest range EV batteries, they are targeting a key selling point for consumers and automakers. If successful, this technology could lead to increased market share and revenue growth for both companies. Investors should monitor the progress of this partnership closely, as it could result in significant stock valuation changes, especially if the technology proves scalable and is adopted by major automakers.
It's important to note that the cost reductions and performance improvements promised by this partnership could impact the entire value chain of the EV industry, potentially affecting raw material suppliers, battery manufacturers and automakers. The financial ripple effects of such a technological advancement could be substantial, warranting close attention from investors across these sectors.
The technical aspects of this partnership are groundbreaking. Metallurgical silicon's potential to store up to ten times more energy than graphite could be a game-changer for EV battery performance. Coreshell's proprietary nanomaterial electrode coating technology addresses the degradation issues associated with silicon, which has been a significant barrier to its use in batteries. Ferroglobe's unique metallurgical purification process that yields high-purity silicon without chemical reagents is another pivotal innovation for cost-effective battery production.
Understanding the materials science behind these advancements is crucial for stakeholders. The ability to enhance the anode's energy capacity with metallurgical silicon while maintaining battery life is a critical development for the industry. If the technology can be scaled effectively, it could lead to widespread improvements in EV battery performance and longevity, which are key factors for consumer acceptance and the long-term sustainability of electric vehicles.
Partnership to enable development of the lowest cost, longest range EV batteries replacing graphite and silane-based silicon with metallurgical silicon for the first time
LONDON, March 11, 2024 (GLOBE NEWSWIRE) -- Ferroglobe PLC (NASDAQ: GSM), a world leading producer of silicon metal and ferroalloys, and Coreshell, a US-based battery technology company, today announced the signature of a memorandum of understanding. Together, Ferroglobe and Coreshell expect to produce the first battery-ready metallurgical silicon for the development of low-cost, high-range EV batteries in compliance with the U.S. Inflation Reduction Act. The partnership will enable the leapfrogging of silane-based silicon and the replacement of graphite in EV batteries, which have bottlenecked the auto industry since the introduction of electric vehicles, creating cost and range limitations.
Electric vehicles suffer from significant cost disadvantages for consumers and automakers alike, with batteries comprising 30
Coreshell’s proprietary battery technology, featuring a unique nanomaterial electrode coating, is the only proven solution to mitigate the degradation of micrometric silicon, preventing its rapid loss of life while still allowing lithium ions to pass through. Ferroglobe’s proprietary metallurgical purification process to produce up to
“We believe battery-grade, micrometric silicon is the fastest path to decarbonizing the mobility industry,” said Benoist Ollivier, Chief Technology & Innovation Officer of Ferroglobe. “When the right battery technology partner and the leading supplier of silicon to the U.S. come together, breakthroughs can happen. Coreshell is a leading technology company that has been able to solve the raw metallurgical silicon degradation problem and unlock the true performance of this element. We are thrilled to partner with the battery material innovators at Coreshell and play our part in accelerating the transition to clean energy in the automotive industry for everyone.”
“Silicon stores 10 times the energy of graphite and it is available in sufficient quantity and quality. It is the only viable pathway to low-cost, long-range electric vehicle batteries that can be scaled rapidly using a
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1 IEA. Global Supply Chains of EV Batteries. (2022)
About Ferroglobe
Ferroglobe is a leading global producer of silicon metal, silicon-based and manganese-based ferroalloys serving a customer base across the globe in dynamic and fast-growing end markets, such as solar, automotive, consumer products, construction and energy. The Company is headquartered in London. For more information, visit www.ferroglobe.com.
About Coreshell
Coreshell is an advanced battery solutions company that increases the range of electric vehicles while bringing down costs — so the world can transition to clean energy in time. Easily applied onto the surface of the electrodes in lithium-ion batteries during the manufacturing process, Coreshell’s technology has proven to extend capacity of these batteries by 30 or more percent - while reducing costs for automakers. Headquartered in California, Coreshell partners include multinational battery manufacturers and auto OEMs committed to zero emissions and paving the future of transportation.
Ferroglobe - INVESTOR CONTACT:
Alex Rotonen, CFA
Vice President, Investor Relations
Email: investor.relations@ferroglobe.com
Ferroglobe - MEDIA CONTACT:
Cristina Feliu
Vice President, Communications & Public Affairs
Email: corporate.comms@ferroglobe.com
Coreshell - MEDIA CONTACT:
Nadia Jamshidi
Media Relations
Email: nadia@goodnature.ventures
