Global Silicon-Based Anode Battery Market Size Is Expected to Reach $3.4 Billion By End of 2031

FN Media Group News Commentary

PALM BEACH, Fla., April 30, 2024 /PRNewswire/ -- 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 of Amprius 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 with Airbus, the U.S. Army, AeroVironment and BAE Systems on 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 be Mercedes," 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).

Porsche also plans to use silicon-anode technology in its vehicles, and has invested in Washington state-based Group14 Technologies.  "The head of R&D for Porsche ... said, at Porsche, the soul of the vehicle has been the engine and the transmission ... they believe the next soul of the vehicle is going to be the battery cell," Group14 CEO and co-founder Rick Luebbe said.  All three companies have announced plans to build domestic gigawatt-hour scale manufacturing facilities in the next few years. Funding support has come from the U.S. Department of Energy as part of President Biden's infrastructure bill to boost America's battery supply chains and production."