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key battery takeaways from Benchmark Week","three-key-battery-takeaways-from-benchmark-week","article/three-key-battery-takeaways-from-benchmark-week",{"_uid":557,"date":558,"tags":559,"editor":569,"content":579,"excerpt":812,"featured":51,"reporter":813,"_editable":817,"component":818,"seo_title":553,"categories":819,"visibility":832,"author_company":685,"featured_image":833,"seo_description":837,"author_full_name":685,"author_job_title":685,"formattedDate":838,"formattedArticleDate":839},"e2729ce6-627d-4578-bfc7-9d16aeeddfa4","2023-11-21 00:00",[560,563,566],{"slug":561,"name":562},"benchmark-week-2023","Benchmark Week 2023",{"slug":564,"name":565},"wind","Wind",{"slug":567,"name":568},"solar-pv","Solar PV",[570],{"slug":571,"name":572,"content":573},"matthew-bird","Matthew Bird",{"job_title":574,"image":575,"bio":577,"linkedin":578},"Senior Editor - Supply Chains & Data Visualisation",{"filename":576},"https://a.storyblok.com/f/287943243085208/512x512/14738033ec/matthew-bird.jpeg","Matthew writes, edits and produces content for Benchmark Intelligence and Benchmark Source across the whole mine to grid supply chain. He also acts as a liaison to the press. He has a PhD in electrochemistry from the University of Nottingham.","https://www.linkedin.com/in/birdmatthew/",{"type":580,"content":581},"doc",[582,599,612,617,630,635,642,647,659,664,669,674,679,688,693,706,711,716,729,734,747,752,757,770,775,780,785,790,797,802,807],{"type":583,"attrs":584,"content":585},"paragraph",{"textAlign":49},[586,589,597],{"text":587,"type":588},"Since 2021 over $300 billion has been invested in battery cell capacity, ","text",{"text":590,"type":588,"marks":591},"Evan Hartley",[592],{"type":593,"attrs":594},"link",{"href":595,"uuid":49,"anchor":49,"target":49,"linktype":596},"https://source.benchmarkminerals.com/video/watch/north-american-battery-capacity-creating-a-twh-industry","url",{"text":598,"type":588},", an analyst at Benchmark, told attendees at Benchmark Week 2023.",{"type":583,"attrs":600,"content":601},{"textAlign":49},[602,604,610],{"text":603,"type":588},"Much of this capacity will be located in China. Benchmark’s ",{"text":605,"type":588,"marks":606},"Gigafactory Assessment",[607],{"type":593,"attrs":608},{"href":609,"uuid":49,"anchor":49,"target":49,"linktype":596},"https://www.benchmarkminerals.com/market-assessments/gigafactory-assessment/capacities/",{"text":611,"type":588}," shows that 67% of the global 2030 pipeline capacity in 2030 is located in the country.",{"type":583,"attrs":613,"content":614},{"textAlign":49},[615],{"text":616,"type":588},"In response to this, governments around the world have devised policies to increase the security of the supply chains and to minimise how much influence any one country can have.",{"type":583,"attrs":618,"content":619},{"textAlign":49},[620,622,628],{"text":621,"type":588},"“Diversification is going to be key if we are going to unlock these technologies,” ",{"text":623,"type":588,"marks":624},"Mike Finch",[625],{"type":593,"attrs":626},{"href":627,"uuid":49,"anchor":49,"target":49,"linktype":596},"https://source.benchmarkminerals.com/video/watch/powering-tomorrow-just-how-hungry-are-clean-energy-technologies",{"text":629,"type":588},", a product director at Benchmark, said at the event.",{"type":583,"attrs":631,"content":632},{"textAlign":49},[633],{"text":634,"type":588},"Below are three key takeaways from the discussions around the downstream of the energy transition supply chains.",{"type":636,"attrs":637,"content":639},"heading",{"level":638,"textAlign":49},4,[640],{"text":641,"type":588},"1. Policy is driving the downstream, but the midstream must not be forgotten",{"type":583,"attrs":643,"content":644},{"textAlign":49},[645],{"text":646,"type":588},"One of the clearest influences of policy on downstream production is seen from the US Inflation Reduction Act. Passed in August 2022, the act includes a multitude of tax incentives to directly encourage the development of a domestic and allied supply chain.",{"type":583,"attrs":648,"content":649},{"textAlign":49},[650,652,657],{"text":651,"type":588},"Since the act was passed, US gigafactory ",{"text":653,"type":588,"marks":654},"pipeline capacity",[655],{"type":593,"attrs":656},{"href":609,"uuid":49,"anchor":49,"target":49,"linktype":596},{"text":658,"type":588}," out to 2030 has grown by 80%. This has allowed the country to catch up with Europe, which grew its planned capacity by only 40% in the same time period.",{"type":583,"attrs":660,"content":661},{"textAlign":49},[662],{"text":663,"type":588},"But these gigafactories need cathode and anode active materials – areas also dominated by China.",{"type":583,"attrs":665,"content":666},{"textAlign":49},[667],{"text":668,"type":588},"North America has a relatively healthy cathode pipeline, through production facilities planned in Canada, Hartley said.",{"type":583,"attrs":670,"content":671},{"textAlign":49},[672],{"text":673,"type":588},"“However, looking at the anode markets and looking at the precursor markets, it is clear that significant investment is still needed,” Hartley said.",{"type":583,"attrs":675,"content":676},{"textAlign":49},[677],{"text":678,"type":588},"Abigail Seadler Wulf, head of the American Battery Materials Initiative at the US Department of Energy, agrees. She told attendees that more needs to be done to incentivise midstream production in the US whilst also supporting “allies and friends abroad that already have some of that capacity.”",{"type":583,"attrs":680,"content":681},{"textAlign":49},[682],{"type":683,"attrs":684},"image",{"id":49,"alt":685,"src":686,"title":49,"source":49,"copyright":49,"meta_data":687},"","https://a.storyblok.com/f/287943243085208/f8957bc79d/bm-na-midstream.png",{},{"type":636,"attrs":689,"content":690},{"level":638,"textAlign":49},[691],{"text":692,"type":588},"2. Battery demand for electric vehicles and energy storage is increasing but segmenting",{"type":583,"attrs":694,"content":695},{"textAlign":49},[696,698,704],{"text":697,"type":588},"Benchmark’s ",{"text":699,"type":588,"marks":700},"Lithium ion Battery Database",[701],{"type":593,"attrs":702},{"href":703,"uuid":49,"anchor":49,"target":49,"linktype":596},"https://www.benchmarkminerals.com/forecasts/lithium-ion-batteries/",{"text":705,"type":588}," forecasts that battery demand will increase from 1 terawatt-hour (TWh) in 2023 to 3.9 TWh in 2030. Electric vehicles (EVs) are forecast to account for 88% of this.",{"type":583,"attrs":707,"content":708},{"textAlign":49},[709],{"text":710,"type":588},"“Shifting to electric personal mobility requires nothing short of a complete transformation of the global industrial base. And the reimagination of auto markets around the world,” John Bozzella, president and chief executive of the Alliance for Automotive Innovation, told attendees.",{"type":583,"attrs":712,"content":713},{"textAlign":49},[714],{"text":715,"type":588},"There is an increasing segmentation in the battery market, which has typically followed the trends of passenger EV requirements.",{"type":583,"attrs":717,"content":718},{"textAlign":49},[719,721,727],{"text":720,"type":588},"Daimler Truck, a German truck manufacturer, for example, announced a plan to build a lithium iron phosphate (LFP) gigafactory in the US earlier this year. ",{"text":722,"type":588,"marks":723},"Bill Van Amburg",[724],{"type":593,"attrs":725},{"href":726,"uuid":49,"anchor":49,"target":49,"linktype":596},"https://source.benchmarkminerals.com/video/watch/growing-demand-for-commercial-electrification",{"text":728,"type":588},", consulting strategic advisor at CALSTART, sees this as a growing trend.",{"type":583,"attrs":730,"content":731},{"textAlign":49},[732],{"text":733,"type":588},"“The truck makers realise they need to protect themselves in the marketplace,” he said. “They’re looking not just at assembling the batteries, but actually having dedicated battery manufacturing for their supply.”",{"type":583,"attrs":735,"content":736},{"textAlign":49},[737,739,745],{"text":738,"type":588},"Energy storage applications, too, are seeing diversification away from the cell formats used by the passenger EV market. ",{"text":740,"type":588,"marks":741},"Will Roberts",[742],{"type":593,"attrs":743},{"href":744,"uuid":49,"anchor":49,"target":49,"linktype":596},"https://source.benchmarkminerals.com/video/watch/ev-demand-dynamics",{"text":746,"type":588},", the automotive research lead at Rho Motion, explained that the energy storage system (ESS) segment is increasingly looking to dedicated cell formats that are larger than those used for EVs.",{"type":583,"attrs":748,"content":749},{"textAlign":49},[750],{"text":751,"type":588},"“They’re not necessarily looking to just take the scraps of whatever was left over from the EV industry,” he said. “So there will be almost two parallel markets.”",{"type":583,"attrs":753,"content":754},{"textAlign":49},[755],{"text":756,"type":588},"This brings into question whether EV batteries will get a second life as ESS batteries.",{"type":583,"attrs":758,"content":759},{"textAlign":49},[760,762,768],{"text":761,"type":588},"“[ESS integrators would] quite like to have their own dedicated systems that are going to work as best as possible for those solutions,” ",{"text":763,"type":588,"marks":764},"Roberts said",[765],{"type":593,"attrs":766},{"href":767,"uuid":49,"anchor":49,"target":49,"linktype":596},"https://source.benchmarkminerals.com/video/watch/benchmark-week-2023-panel-electric-vehicle-demand-dynamics",{"text":769,"type":588},".",{"type":636,"attrs":771,"content":772},{"level":638,"textAlign":49},[773],{"text":774,"type":588},"3. The rollout of clean energy grids will significantly increase critical mineral demand",{"type":583,"attrs":776,"content":777},{"textAlign":49},[778],{"text":779,"type":588},"Benchmark’s Finch told attendees that renewable energy sources accounted for 30% of electricity generation in 2023 and is set to rise to 90% by 2050.",{"type":583,"attrs":781,"content":782},{"textAlign":49},[783],{"text":784,"type":588},"This could require ten times more wind capacity and 15 times more solar capacity than is installed today for Benchmark’s base case scenario. Reaching net zero will likely require significantly more than this, he said.",{"type":583,"attrs":786,"content":787},{"textAlign":49},[788],{"text":789,"type":588},"Clean energy technology is typically more mineral intensive than the legacy technologies they are replacing. Copper and aluminium intensity is far higher for wind and solar than for coal and gas, for example.",{"type":583,"attrs":791,"content":792},{"textAlign":49},[793],{"type":683,"attrs":794},{"id":49,"alt":685,"src":795,"title":49,"source":49,"copyright":49,"meta_data":796},"https://a.storyblok.com/f/287943243085208/eb1f2ff2e0/bm-mineral-intensity-energy-applications.png",{},{"type":583,"attrs":798,"content":799},{"textAlign":49},[800],{"text":801,"type":588},"In 2022, clean technologies represented 22% of global copper demand. This is set to rise to 29% in 2030.",{"type":583,"attrs":803,"content":804},{"textAlign":49},[805],{"text":806,"type":588},"It’s not just critical mineral supply chains that need to change in response to the rollout of renewables. Many electricity grids around the world, especially in Western countries, were not developed with such high renewable penetration and energy demands in mind.",{"type":583,"attrs":808,"content":809},{"textAlign":49},[810],{"text":811,"type":588},"“They struggle to deal with current energy requirements and demands, let alone adding huge capacity,” Finch said.","Since 2021 over $300 billion has been invested in battery cell capacity, Evan Hartley, an analyst at Benchmark, told attendees at Benchmark Week 2023. Much of this capacity will be located in China. Benchmark’s Gigafactory Assessment shows that 67% of the global 2030 pipeline capacity in 2030 is located in the country. In response to […]",[814],{"slug":571,"name":572,"content":815},{"job_title":574,"image":816,"bio":577,"linkedin":578},{"filename":576},"\u003C!--#storyblok#{\"name\": \"article\", \"space\": \"\", \"uid\": \"e2729ce6-627d-4578-bfc7-9d16aeeddfa4\", \"id\": \"\"}-->","article",[820,823,826,829],{"slug":821,"name":822},"batteries","Batteries",{"slug":824,"name":825},"ess","ESS",{"slug":827,"name":828},"ev","EV",{"slug":830,"name":831},"new-energy","New Energy","private",{"id":49,"alt":685,"name":685,"focus":685,"title":685,"source":685,"filename":834,"copyright":685,"fieldtype":835,"meta_data":836,"is_external_url":51},"https://a.storyblok.com/f/287943243085208/ae20cac3ca/bm-lithium-ion-battery-adobe-stock-image.jpeg","asset",{"alt":685,"title":685,"source":685,"copyright":685},"Since 2021 over $300 billion has been invested in battery cell capacity, Evan Hartley, an analyst at Benchmark, told attendees at Benchmark Week 2023. Much of this capacity will be located in China. Benchmark’s ...","Nov 21, 2023","21st November 2023",[],[],1790082824261]