Quantumscape Corp

NYSE:QSUnited States

Apr 30, 2024

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• Global Silicon-Based Anode Battery Market Size Is Expected to Reach $3.4 Billion By End of 2031, from 9:01AM ET on Tuesday Apr 30, 2024 by PR Newswire

  9:01AM ET on Tuesday Apr 30, 2024 by PR Newswire
  Companies Mentioned: FREY, QS, ENVX, SLDP

  FN Media Group News Commentary

  A recent breakthrough in technology has experts saying that new heights are soon to be in sight for Lithium-ion battery performance. Batteries made with silicon instead of graphite — the commonly used material in battery anodes today — have been shown to enable significantly higher energy density and faster charging. A report from Transparence Market Research projected that the global silicon-based anode market size is estimated to grow at a CAGR of 69.9% through 2031 and reach us$ 3.4 Billion by the end of 2031. Also a recent report on CNBC said that: "Silicon anode has 10 times higher energy density than graphite," according to CEO Kang Sun ofAmprius Technologies, one of the companies working on the technology. "We've demonstrated that we can charge to 80 percent in under six minutes," added Jon Bornstein, the company's chief operating officer. Amprius is already working withAirbus, the U.S. Army,AeroVironmentandBAE Systemson early iterations of its silicon-anode batteries. Sila Nanotechnologies, which was started by a group of ex-Tesla battery engineers, is also working on silicon-anode technology. The company has been in the market since 2021 with its Titan Silicon product used in the Whoop fitness tracker. It is now scaling into automotive production. "Our first automotive customer is going to beMercedes," CEO and co-founder Gene Berdichevsky said. "They announced a supply agreement with us to put us in their electric vehicles and they're going to start with the iconic G Wagon." Active defense stocks in news today include:KULR Technology Group, Inc. (NYSE: KULR), Enovix Corporation (NASDAQ: ENVX), Solid Power, Inc.(NASDAQ: SLDP), FREYR Battery (NYSE: FREY), QuantumScape Corporation (NYSE: QS).