Day two featured presentations from KORE Power, Umicore and Westwin Elements among others, covering topics such as BESS, the charging market, cathode supply and upstream mineral supply.

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Session 8: Building a Domestic BESS Supply Chain

Iola Hughes, Head of Research, Rho Motion:

  • Global growth of BESS is projected at 34% year-on-year in 2024, with the US and China leading.
  • Growth in the US is concentrated in Texas and California due to factors such as solar capacity, land availability, and utility mandates.
  • The Investment Tax Credit from the IRA for standalone projects significantly supports energy storage system viability.
  • Cell supply mainly comes from China; alternatives include importing with tariffs, switching to US-produced LFP cells, or using non-LFP cells.
  • Larger LFP cells within the industry are becoming the standard, optimising costs and capacity within storage systems.
  • Future battery technologies could include NCM/NCA for short-duration storage and sodium or flow batteries for mid-duration, with metal-air and flow batteries being long-duration solutions, though profitability remains a challenge.

Jay Bellows, President, KORE Power:

  • KORE Power has a long history in ESS and focuses on NCM and LFP products.
  • The ESS market is growing rapidly, and keeping up with energy density requirements is a major challenge.
  • KORE Power’s projects span from small to large systems, ensuring regulatory compliance and safety.
  • Supply chains localisation is critical, but building supply chains in the US will take time, with support from the IRA being crucial.

Session 9: EV Charging Market: Scale and Speed

Shan Tomouk, Charging and Energy Research Lead, Rho Motion:

  • Public charger installations vary significantly by region, reflecting local characteristics like population density and EV adoption rates.
  • Generally, there is a shift towards DC fast chargers due to higher profitability, improved reliability, and easier management compared to AC chargers.
  • California leads in charging infrastructure, but other US states are emerging, influenced by factors such as EV registrations and housing types.
  • Tesla’s supercharger expansion has slowed due to declining sales, though it was once a major marketing tool for their EVs.
  • AC chargers are more common in locations where people spend longer periods (e.g., schools), while DC chargers are being deployed in large parking areas, particularly in retail spaces.

Preeti Choudary, Executive Director, DriveOhio:

  • DriveOhio focuses on ensuring EV infrastructure safety and addressing gaps in Ohio’s charging network.
  • EV adoption in Ohio is steadily increasing, with Tesla leading in registrations. The state is working to improve its charging infrastructure.
  • Federal funding, such as NEVI, USD140 million over 5 years, will be key in developing Ohio’s EV charging network, aiming to install chargers every 50 miles.

Session 10: Cathode Spotlight

Robert Privette, Business Development Manager, North America, Umicore Battery Materials USA Inc.

  • Umicore is a circular materials company with four key business areas: battery materials, catalysis, recycling, and specialty materials.
  • Over 40 years of experience as an automotive supplier through its catalyst business unit.
  • More than 20 years in the cathode business, starting with LCO batteries and expanding to a range of chemistries, primarily NCM (60%+ nickel).
  • Maintains a mixed product portfolio tailored to customer needs, focusing on sustainable sourcing from a diverse range of suppliers.
  • Global cathode active material (CAM) and precursor CAM (pCAM) facilities are located in Korea, Poland, China, and Canada.
  • Umicore offers IRA-compliant products and has provided the first non-Chinese CAM supply since 2019.
  • It is developing next-gen battery technologies, including DRX, HLM, NMx, and Na-ion CAM.
  • Frameworks for battery materials include a strong emphasis on traceability, ensuring a sustainable and compliant supply chain.

Vivas Kumar, CEO & Co-Founder, Mitra Chem

  • Mitra Chem addresses three key challenges in cathode manufacturing: speed, cost, and manufacturing scale.
  • Utilises machine learning to accelerate the process of bringing new battery materials from concept to scale.
  • Focuses on cost-efficient iron-rich cathodes, including LFP (currently producing at tonne scale, with a target of 30,000 tonnes per annum), LMFP, and LMX.
  • It is working to scale up manufacturing and establish IRA-compliant suppliers across the supply chain.

Session 11: View from the Upstream

Adam Panayi, Managing Director, Rho Motion:

  • The commodity market is currently facing a challenging period, with significant price declines in key metals. However, the longer-term outlook is positive.
  • Despite the slowdown in EV demand growth, current low prices are expected to stabilise, as supply is being taken offline, providing a floor for prices.
  • Nickel: The battery market remains a small part of overall demand, with stainless steel still dominating. China has offshored much of its supply to Indonesia, which has led to market imbalances. There is concern over Indonesian reserves being drawn down too quickly, potentially creating a deficit.
  • Cobalt: EVs are now the largest market for cobalt, overtaking portable electronics. Supply has surged, particularly with the introduction of new capacity, but the market should balance out as less capacity is added in the future.
  • Lithium: The market has seen significant growth driven by EVs. However, with current low prices, around 15% of the market is operating at a loss, which could result in short-term price increases as capacity is taken offline.

KaLeigh Long, Founder and CEO, Westwin Elements:

  • Westwin’s background in national security led to a focus on critical minerals, emphasising the need for the US to secure its supply chain, particularly for nickel.
  • Westwin aims to onshore nickel refining to the US, utilising the carbonyl process, which allows flexibility with feedstocks (MHP, Matte, and black mass) and minimises waste.
  • Despite the challenges of being a first-mover, Westwin is confident due to its reliance on proven technology and its experienced technical team.
  • The carbonyl process has a higher Capex but superior Opex compared to hydromet processes, and the company hopes to gain a cost advantage through tariffs.
  • Westwin is currently in the demonstration plant phase, aiming for full operations by 2026, and is working with major battery, aerospace, and auto OEMs.
  • The company’s strategy includes hedging by serving multiple markets (e.g., stainless steel, aerospace) and positioning itself as a supplier integrated into the US critical minerals supply chain.