Peak Power Plans Sodium-Ion Grid-Scale Battery Storage Revolution

Grid-scale battery storage is essential to the success of the transition to renewable power. Wind and photo voltaic are marvelous applied sciences, however their output tends to range relying on wind speeds, cloud cowl, and different elements. Till lately, grid-scale storage batteries have relied on lithium-ion batteries — NMC to start with, however LFP extra lately. Peak Power believes it has the power to fabricate sodium-ion batteries that outperform each at half the price.

On its web site, Peak Power says it’s “the primary American enterprise to advance globally confirmed sodium-ion battery methods because the storage customary for the brand new period of renewable power on a resilient grid.” This week, the corporate emerged from stealth mode to announce a $10 million funding spherical led by Eclipse, with vital participation from strategic companion TDK Ventures. In a press launch, the corporate says it’s on a mission to speed up grid decarbonization whereas drastically decreasing the price of power storage and establishing the US as a world chief within the sodium-ion market.

Peak Power was based by three folks with huge expertise within the subject. CEO Landon Mossburg beforehand labored at Northvolt and Tesla. COO Cameron Dales was the overall supervisor of Enovix and board member Greg Reichow has additionally been a manufacturing engineer at  Tesla and vp of operations at SunPower.

Peak Power & Renewables

Renewables are on monitor to turn into the biggest supply of worldwide electrical energy era by early 2025, however with out inexpensive, dependable storage for the grid, the US can’t reap the total advantages of those cheap and clear, however intermittent sources of power, the corporate says. Whereas lithium ion has been the default battery answer, its excessive value construction, provide chain insecurity, security issues, and enormous carbon footprint make it lower than very best for grid scale storage.

Sodium ion is quickly turning into a confirmed battery chemistry, providing clear and safe storage at a considerably decrease value and carbon footprint. With a transparent alternative to make sure inexpensive power, Peak Power is transferring quick to industrialize sodium-ion expertise with a aim of decreasing power storage prices by as much as 50%.

“Sodium-ion is the important thing to unlocking the potential of renewable power and can lastly allow energy suppliers to completely decarbonize the grid,” mentioned CEO Landon Mossburg. “The timing couldn’t be higher to construct an organization on this area, and we have already got momentum with key prospects and companions like Doral Power. There’s a large alternative for america to emerge as the worldwide chief in sodium ion manufacturing and deployment, and Peak Power is on the forefront of that effort.”

Picture courtesy of Peak Power

As a result of its excessive power density, lithium-ion has turn into the dominant battery chemistry throughout a number of large and rising market segments, together with cellular units and electrical autos, driving unprecedented lithium demand and pricing volatility. In the meantime, a lot of the world’s lithium extraction and battery manufacturing exists outdoors of the US, including ranges of geopolitical, provide chain and sourcing complexities that affect the price and availability of power storage for Unbiased Energy Producers and electrical utilities.

With the U.S. having already ceded management on lithium-ion innovation and funding to different nations, it’s essential that it invests in and takes the lead in growing the battery chemistries of tomorrow. Sodium-ion, a secure and confirmed battery chemistry that gives value, sourcing, security, and emission benefits over lithium-ion, is one such chemistry.

Plentiful Supplies

With wide-scale abundance of supply supplies and a chemistry that produces much less carbon emissions and makes it much less vulnerable to fires and different security issues, sodium-ion is a greater different to lithium-ion for stationary purposes comparable to grid-scale storage. It’s a expertise that may assist the US take a management place in international battery manufacturing.

“The price of power is instantly correlated to human progress — enhancing well being outcomes, fixing meals shortage and decreasing poverty all depend upon entry to low-cost power,” mentioned Greg Reichow. “For the U.S. to turn into a world chief in renewable power, we can’t afford to put the flawed bets. We should put money into the ventures and the individuals who have demonstrated they’ll get to scale shortly, and Peak’s founding group brings an unprecedented stage of credibility and expertise to Peak’s mission.”

“Peak’s founders have recognized a price efficient, protected answer with a deployment technique that allows fast execution and sustainable progress for sodium-ion battery innovation,” mentioned Anil Achyuta, Managing Director at TDK Ventures. “Peak Power has a chance to dominate this market, and we’re trying ahead to partnering with your complete group to speed up and develop entry to inexpensive, clear storage options.”

Starting in 2025, Peak Power will begin deploying its sodium-ion methods whereas concurrently constructing a home, giga-scale battery manufacturing facility that’s scheduled to start operations in 2026. The preliminary spherical of financing will permit the group to speed up product growth, lay the groundwork for constructing out manufacturing within the U.S. and purchase strategic expertise to push the mission ahead.

Peak Power Is Doing Issues In another way

In an interview with CNBC this week, Cameron Dales mentioned, “A standard Silicon Valley startup is 10 years within the lab, provide you with a greater mousetrap and go to market. We’re fully the alternative.” Peak Power hopes to companion with a expertise firm (but to be chosen) that’s already an professional in battery expertise however doesn’t have the capability to scale manufacturing.

“Within the battery promote it seems the rarest commodity will not be the expertise — there are lots of wonderful concepts on the market at educational labs and startups — however somewhat the power to scale to manufacturing,” Mossburg added. “The issue of producing scale up is without doubt one of the causes you see so many ‘breakthrough battery expertise’ bulletins however very, only a few corporations who truly attain market. We’re operating a playbook which I and the remainder of the chief group initially demonstrated and deployed at Northvolt.”

The Swedish battery firm additionally began with a small seed spherical of funding and ended up elevating greater than $9 billion in a mixture of fairness and debt. Mossburg was concerned with securing all of that financing apart from the latest $1.2 billion introduced in August. Dales and Mossburg each sound like individuals who have spent loads of time within the firm of Elon Musk, the acknowledged grasp of scaling up new applied sciences.

“The primary challenge we face because it pertains to increasing renewable power sources is storage,” Reichow informed CNBC. “This drawback should be solved however the present approaches utilizing lithium-ion and different applied sciences usually are not but at a worth level that allows the sort of scaling that society wants throughout sectors.”

Demand for grid-scale storage will proceed to develop. The US Power Info Administration has projected that battery storage capability will develop from 9 gigawatts in 2022 to 49 gigawatts in 2030 after which to 247 gigawatts in 2050. That’s a baseline projection that features the Inflation Discount Act and assumes no further adjustments in U.S. coverage all through the projection interval.

“Weight, and due to this fact power density, is far much less essential in a stationary storage system. The truth that these batteries are much less power dense isn’t actually a giant consideration for this software,” Reichow informed CNBC. “A way more essential consideration is the price per unit power that you just’re in a position to retailer and that’s the place sodium-ion, we imagine, may have a giant benefit over lithium-ion sooner or later.”