German battery manufacturer Akasol is preparing for an initial public offering (IPO)— and has its sights set on acquisitions buoyed by “strong growth” in the electric vehicle (EV) market.
The Darmstadt-based company, incorporated just 10 years ago, said its lithium-ion battery systems business has already amassed orders worth EUR1.45 billion ($1.7bn) through to 2024, with clients including Daimler, Alstom, Bombardier and Rolls-Royce Power Systems.
Tesla has given the green light to launch its first Gigafactory for batteries production outside the US in China, company chief Elon Musk has confirmed.
The new Shanghai plant confirms a pledge by Musk to one day set up business at the heart of Asia’s booming batteries sector.
Siemens is to partner Swedish lithium-ion start-up Northvolt in developing “next generation Green lithium-ion batteries”.
Siemens is investing EUR10 million ($11.6m) in the partnership— through which it will become the latest international firm to work with Northvolt— whose planned lithium-ion battery manufacturing facility is being financed by the European Investment Bank.
China’s Tianqi Lithium is set to become a key shareholder of the world’s second largest producer of lithium— in a move to strengthen Chinese influence on the battery raw materials market.
Tianqi has agreed to buy a 25.9% stake in Sociedad Quimica y Minera de Chile (SQM) from Canada-based Nutrien in a deal worth more than $4 billion.
Lockheed Martin is to provide a 2MWh GridStar lithium energy storage system for a microgrid project in Chicago.
The Bronzeville community microgrid project, funded by the US Department of Energy, features a lithium-ion BESS coupled with solar photovoltaics to serve as backup power for critical facilities— including the Chicago Police Department.
Energy storage developer Anesco said it is on track to “quadruple its operational battery portfolio” in the UK by 2020.
Anesco said UK demand for battery storage is expected to see the firm add 380 megawatts of new capacity over the next three years.