What is it?
Sodium-ion batteries have gained attention as a potential alternative to lithium-ion batteries due to the abundance and low cost of sodium resources. Commercialization of SIB is moving much faster than was originally expected and they will be key components in Small Electric Vehicle (EV) and Long-duration Energy Storage applications. Among other advantages over incumbent Lithium-ion batteries (LIB), SIBs offer lower raw material costs and sustainability.
Why is it important?
Sodium is more abundant and widely distributed than lithium, making sodium-ion batteries potentially cheaper to produce than lithium-ion batteries. The abundance of sodium resources also makes sodium-ion batteries a more sustainable long-term option for energy storage, especially as the demand for batteries continues to grow. They are also well-suited for large-scale energy storage applications, such as grid storage.
What industries will it impact?
Electric vehicles, Grid energy storage, Consumer electronics, Renewable energy, Telecommunications.
Market players
Altris AB, CATL, Faradion, HiNa Battery, Kite Rise