Zinc-based batteries provide a compelling alternative to other modern energy storage solutions, delivering higher power at lower costs with minimal maintenance and longer lifespans of up to 20 years.
21 Jun 2024 | 2121 Views | By Autocar Pro News Desk
Hindustan Zinc and US-based AEsir Technologies have signed a Memorandum of Understanding, where Hindustan Zinc will supply zinc for AEsir Technologies' next-generation batteries.'
Zinc-based batteries provide a compelling alternative to other modern energy storage solutions, delivering higher power at lower costs with minimal maintenance and longer lifespans of up ...
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Hindustan Zinc and US-based AEsir Technologies have signed a Memorandum of Understanding, where Hindustan Zinc will supply zinc for AEsir Technologies' next-generation batteries.'
Zinc-based batteries provide a compelling alternative to other modern energy storage solutions, delivering higher power at lower costs with minimal maintenance and longer lifespans of up to 20 years. This makes them ideal for large-scale energy storage in industrial settings, the press release noted.
They offer broader temperature tolerance, and reliable backup power for extended periods (3-72 hours) compared to other metals. They are built with non-flammable materials, are non-reactive to air and water, and produce no toxic fumes, ensuring greater safety. Additionally, Zinc-based batteries are recyclable, use non-hazardous raw materials, and have a greenhouse gas (GHG) footprint six times lower than other technologies.
Arun Misra, CEO of Hindustan Zinc Limited, said, “Zinc is integral to a low-carbon future. At Hindustan Zinc, our focus is to produce metals sustainably for applications that power the ongoing global energy transition. This partnership with AEsir Technologies is yet another step in our ongoing developmental work in the emerging clean technology space. By providing high-quality zinc for cutting-edge energy storage, we are opening sophisticated new avenues for environmentally friendly solutions for a greener tomorrow.”
Randy Moore, CEO & Co-Founder of AEsir Technologies, said, “Energy storage is at the forefront of every major innovation in the energy transition space. Zinc batteries are the best story around energy storage. We are achieving great innovation in this space and this collaboration with Hindustan Zinc provides us with critical raw material for the development of next-gen Nickel Zinc batteries. We are pleased to partner with Hindustan Zinc as we are also focussed on the sustainability of our value chain, and they are global leaders in this domain.”
The global energy storage market is on an upward trajectory, with projections of an annual growth of 21%, reaching 442 GWh by 2030 according to a recent Bloomberg NEF report.