asian battery boom threatens to pull plug on uk innovation
The boom in lithium production-
Ion batteries in Asia may limit innovation in the UK\'s booming energy storage technology industry, according to one of the UK\'s leading investors in clean technology.
Alex O\'Cinneide, chief executive of Alex Street Capital, an investment advisor to the world\'s first energy storage fund, Gore Street energy storage fund, said the growth in demand for electric vehicles has driven lithium production.
Ion batteries in Asia have led to a sharp decline in the price of the technology.
Ausinode said the surge in production is reshaping the industry economy, and Asian manufacturers have seized what they believe is \"The market opportunity to replace every car engine in the world with batteries \".
This could be a big challenge for UK companies trying to bring innovative new technologies to market.
\"Our situation is that large energy storage manufacturers in Asia are adding lithium-
\"Ion batteries are produced,\" he said . \".
\"[The challenges]the UK]
To achieve a large enough manufacturing scale, there will be huge challenges.
\"Driven by expectations of rapid growth in the electric vehicle industry, investment in battery technology has been accelerating.
International Energy Agency (IEA)
Claims that by 2030, there could be 220 electric vehicles on the world\'s roads, up from three last year.
Asian companies such as Samsung, NEC and China BYD have all made progress in lithium.
Ion technology, designed to increase energy density, enables electric vehicles to travel longer distances on the same battery. Lithium-
Currently, ion batteries are attracting the largest share of investment as they are considered the best solution for electric vehicles.
However, some experts believe that the technology is flawed due to the need for a large amount of expensive lithium and the risk of fire.
They believe better alternatives, such as solid-state batteries, may eventually emerge.
Mr. ocinned, 46, who served as a UNICEF adviser on energy and climate change, made significant investments in solar technology in 2007 and saw similar investment models in Asia kill
\"A lot of very good solar technology companies are not successful because you have so many products from Asia and the price is very competitive.
\"In the UK, the government\'s industrial strategic challenge fund aims to support the development of batteries through a £ 246 investment, and its work may stall as new technologies lag behind.
Alan Patterson, project management director at Faraday, the government\'s leading battery research team, acknowledged that many new technologies may never be recognized.
\"It does take a long time for chemistry to develop from the laboratory to full commercial.
These schedules are long, but not all of them are successful.
Although osinide believes the expansion of lithium manufacturing in Asia
He believes that Ion batteries put innovation at risk and are critical to investing in a \"technology agnostic\" approach.
\"We don\'t risk technology,\" he said . \"
\"The solutions we buy for the services we provide, they need to have a good foundation, they need to work, we need to get a guarantee from the manufacturers in the first year.
\"That is to say, we need to know what the various technologies are suitable for, and we need to know what will happen next.
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