World

“Genuine Beacon”: The University of Sydney’s First UK Marketed Battery Technology Company | Renewable Energy

The developer of a new low-cost, fire-resistant battery technology spun out from the University of Sydney London Stock Exchange..

The company’s Gelionplc is the first market list in the university. Raised £ 154m ($ 285m) to accelerate research and production of new storage products, primarily zinc bromide batteries.

The combination was originally patented in 1889, but a university team led by Professor Thomas Mashmeier has claimed that zinc bromide gel is safer, longer lasting, and cheaper to store than major lithium batteries. created.

“It won’t catch fire. If anything, it puts it out,” said Mashmeier, detailing some of Gerion’s benefits. “It has its high temperature operation window [up to 50C] And it’s really very safe, recyclable and has very little environmental impact. “

In contrast, lithium batteries Fire danger He said it would reduce thermal performance and require temperature control and other engineering work.

Due to its relatively high energy density, lithium currently dominates the battery market and is suitable for mobile applications from smartphones to electric vehicles.

Other forms of storage, such as thermal energy and compressed air, are also competing for market share. Bloomberg New Energy Finance of the Month It is projected to grow to a cumulative total of 358GW from 17GW in 2020 to the end of 10 years.

So far, Gerion’s total sales have totaled about $ 1 million due to the demo product prepared using Endure branded batteries. The company plans to use the funds raised from the listing to expand its manufacturing base in Fairfield, western Sydney, and begin producing batteries in India.

“We find that Australian manufacturing is, in fact, a very significant upgrade to its potential annual gigawatt hour capacity,” says Mashmeier.

Gelion’s strategy relies heavily on convincing existing manufacturers of lead-acid batteries to improve their business to use zinc bromide instead. Such a shift to generate annual production of 1GW hours is estimated at $ 76 million to start a zinc bromide plant from scratch, or $ 135 million for a similarly sized lithium plant. , He said, would cost about $ 16 million ($ 22 million). ..

Maschmeyer predicted that once zinc bromide batteries could be produced on a reasonable scale, their operating costs would prove to be 25% lower than lithium because they do not require a fire extinguishing system or air conditioning.

“The cost of the system is going down, so we are already competitive with low-level manufacturing,” he said. “You don’t need 10GW of time. [of scale] This is to reduce manufacturing costs. “

Jerion’s executive chairman will resign, but his key technical adviser, Mashmeier, said the company chose London over its Sydney listing, partly due to tax incentives in the UK.

Sign up every morning to receive top stories from Guardian Australia

Australia is also a more risk averse market and investors are still Polarized debate over climate change measures Unleashed during the 2013 Tony Abbott elections.

“The simultaneous climate war, as you know, really hurt the entire investment environment, brought about investment uncertainty, and everyone hates uncertainty,” he said. rice field. “In the end, it wasn’t a big difference, but it was enough to go to the UK.”

LiDaixin, a China-based storage analyst based in Bloomberg New Energy Finance, said zinc bromide batteries “essentially have low energy densities and low charge / discharge rates.” [than lithium batteries] Therefore, the application scenario is much narrower. “

“And because of the lack of economies of scale, further cost savings are difficult,” Li said. “This is primarily targeted at some fixed storage applications that require long-term systems. Therefore, it cannot be considered a lithium rival and instead, in the storage market for some application scenarios. I think we can complement it. “

Other technologies in Gelion’s pipeline include the development of silicone and sulfur additives that can improve the performance of lithium batteries. This technology is licensed to existing battery markers, not the company that is trying to manufacture them.

“We just make lithium-ion and lithium-sulfur batteries more energy-dense and less susceptible to thermal runaway waste,” says Mashmeier. “So we are not in the same market [as zinc-bromide].. They are completely separate markets. “

The company expects to reach the break-even point by early 2024. This list will help you increase your current Australian staff from 30 to 45.

The University of Sydney’s 5% share of Gelion will drop to less than 3% after the listing dilutes its holdings.

University support showed that “what startups need to do to get listed and they have money in their mouths.” “They were just real beacons,” said Mashmeier.

“Genuine Beacon”: The University of Sydney’s First UK Marketed Battery Technology Company | Renewable Energy

Source link “Genuine Beacon”: The University of Sydney’s First UK Marketed Battery Technology Company | Renewable Energy

Back to top button