According to the latest report, American electric vehicle battery startup Alsym Energy has launched a battery storage solution that will provide the performance of lithium-ion batteries at a very low cost, and there is no risk of fire.
The company has not disclosed the exact chemistry of the battery, but it is known that the cathode of the new battery is mainly manganese oxide, the anode is another metal oxide, and the electrolyte is water-based. However, Alsym Energy said the battery does not use lithium, cobalt, or nickel to minimize issues related to material availability and cost.
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In addition, the company expects these batteries to cost less than half of current lithium-based batteries, and because they use non-toxic materials, the batteries are easier to recycle.
Nitin Nohria, Ph.D., chairman of Alsym Energy’s business advisory board and former dean of Harvard Business School, said: “We see great competition in bringing new batteries to market. Power. Most companies focus primarily on performance and give little thought to making batteries safer and more cost-effective—especially in developing countries where consumers are more price-sensitive.
The team at Alsym Energy is working to ensure that their batteries are not only Performance expectations can be met at a lower cost while avoiding most of the supply chain challenges associated with lithium-based technologies.”
Founded in 2015, Alsym is currently developing a 500 kWh prototype manufacturing facility. The company is understood to have partnered with a top Indian automaker to jointly develop new batteries and revealed that it is also in discussions with maritime and electric vehicle companies to develop similar partnerships.