LG Energy Solution has made a capital investment in an American battery development company to secure lithium-metal battery technology, which is crucial for future generations of batteries.
On January 25th, LG Energy Solution announced its investment in Sion Power, a company based in Arizona, United States, and established a technical partnership. The exact stake and amount of investment were not disclosed under the agreement.
Lithium-metal batteries utilize metal cathodes instead of graphite cathodes, as in traditional lithium-ion batteries. They have a higher energy density, resulting in reduced weight and volume. The investment aims to give LG Energy Solution an advantage in lithium-metal battery technology.
Sion Power is a battery technology development company founded in 1994, known as a leader in lithium-metal batteries. The company holds over 470 international patents, including those related to the protective layer of the cathode, which is crucial for lithium-metal batteries.
The protective layer technology is attracting attention as it can solve the dendrite formation issue, which is a significant challenge in the development of lithium-metal batteries. According to Sion Power, their lithium-metal batteries developed based on this technology have the same size and weight as traditional lithium-ion batteries, but can store over 1.5 times more energy.
The investment will be made through LG Technology Ventures (LGTV), a company capitalized by LG Energy Solution, and Bricks Capital Management (BCM), a private equity firm.
“This is a strategic investment to strengthen our position as a leader in future generation technology for the battery industry,” said a representative from LG Energy Solution. “LG Energy Solution will continue to invest in new technologies and businesses to create new value and competitiveness, providing the best value for customers.”
Meanwhile, LG Energy Solution also announced that it has jointly developed the world’s first liquid electrolyte based on boron-pyrany with a research team from KAIST, which can significantly increase the efficiency of lithium-metal batteries. In addition to lithium-metal batteries, LG Energy Solution is also accelerating the development of next-generation batteries such as solid-state batteries and lithium-sulfur batteries.
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The source of the article is from the blog revistatenerife.com