LR03 battery technology is no longer a breakthrough, and companies are investing heavily in the development of next-generation batteries

According to foreign media reports, there is currently nothing more suitable than lithium batteries to power smartphones or Teslas. Since its first introduction in 1991, rechargeable lithium batteries have become the universal standard for powering everyday technology devices and electric cars. Data shows that the vast majority of the world's more than 3 million electric vehicles are now powered by lithium batteries. But as the world moves towards the future electric age, we obviously need better technology than lithium batteries to meet future human needs.

"LR03 battery technology is now almost reaching its ceiling. If you really want to increase energy density, you have to use a completely different technology." Yifei Mo, a professor of materials science and engineering at the University of Maryland, said. "Higher energy density means cheaper, lighter batteries that can be used longer on a single charge."

Fortunately, some battery startups are working hard to develop better battery technology. Their ideal new battery is lower cost, higher energy density, and better performance, suitable for industrial and consumer technology products, as well as electric vehicles with faster charging and longer driving distance.

Starting this year, several battery technology startups believe they have mastered battery technology that is better than lithium batteries and plan to introduce them to the commercial market.

"It took us eight years and about 35,000 material attempts to make something commercially viable," said Gene Berdichevsky, CEO of Sila Nanotechnologies.

In fact, Sila Nanotechnologies is just one of several battery startups that have recently received a lot of funding to continue to optimize their battery technology. Last year, the Alameda, California-based company received $70 million in Series D financing from several investors, including Siemens Global Ventures, to build its first commercial production line for silicon anode batteries.

It should be noted that Berdichevsky, a mechanical and energy engineer, was Tesla's seventh employee a decade ago and was responsible for leading the design of the battery system for the Tesla Roadster.

Analysts believe that the LR03 battery revolution that is gradually emerging has been brewing for about 10 years of research. Only now are startups ready for the commercialization of these new technologies.

"The materials needed for one car are equivalent to 10,000 smartphones or 1,000 smartwatches," Berdichevsky said. "We will start with consumer devices and gradually expand our cooperation with automotive partners over the next five years."

BMW has already become one of Sila's automotive partners.

At present, lithium batteries are subject to various limitations in terms of material composition and physical energy density. New battery technologies try to improve the safety and energy efficiency of lithium batteries, that is, if the battery overheats or is damaged, there is no risk of fire.

One new battery technology is solid-state batteries, which not only replace graphite anodes with lithium metal materials, but also replace liquid electrolytes and separators with a solid piece (usually ceramic, glass or flame-retardant polymers). In the industry, Solid Power, a solid-state battery manufacturer headquartered in Colorado, has taken the lead in this approach and received $20 million in Series A financing in 2018.

According to Solid Power executives, the batteries they are developing will increase energy density by at least 50%.

Quantumscape, a rather mysterious Stanford University spin-off company, is also working with Volkswagen to develop a solid-state battery. Last year, Volkswagen increased its stake in the former by $100 million. The San Jose-based startup is now valued at $1.75 billion, according to PitchBook.

Media reports say Quantumscape’s batteries will enable Volkswagen’s E-Golf model to travel 466 miles (750 kilometers) on a single charge, making it comparable to the range of traditional gasoline-powered cars. According to Volkswagen, Quantumscape’s batteries will also be lighter and faster to charge than existing lithium-ion batteries.

However, as a Nissan vice president said last year, the new generation of solid-state batteries may not be widely used until the next decade. Even in Quantumscape’s press release, we see that it has set a goal of “commercial production in 2025.”

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