South Korean lithium-ion battery firm LG Chem has launched a contest to find and support the “best battery start-ups on the planet, specialising in new battery technology”.
LG Chem said the ‘Battery Challenge’ initiative will offer more than US$1.9 million in funding to eight selected start-ups— and strengthen its own competitiveness in the industry.
The finalists will enter into partnership with the Asian battery company “to develop joint technology and have access to future commercialisation opportunities”, LG Chem said.
The fields of application are separated into four categories— battery material, battery management and control, design, manufacturing and processing and recycle and regeneration.
Up to five participants will win cash prizes ranging from $10,000 to $40,000 “with no strings attached”, LG Chem said. Finalists “will have the opportunity to develop a commercial partnership with LG Chem and spend a week in Seoul”.
Applications can be made up until 2 November 2018 11:59 PM (Pacific Time). Details are on LG Chem’s Battery Challenge web site.
