Oleg Deripaska
Russian billionaire Oleg Deripaska is investing in research into next-generation batteries to replace the lithium-ion units that are currently used in phones and cars, and to store power from solar plants.
The tycoon’s En+ Group, which owns power plants and the largest aluminum maker outside China, is studying sodium-ion and aluminium graphene-ion tech, said Anna Korotchenkova, research and development chief, in a Moscow interview.
Production of lithium needs to quadruple in a decade to meet growing demand for batteries to power electric vehicles, Goldman Sachs Group said last year. Prices rose almost fourfold in the past three years.
Aluminum graphene-ion technology may be best suited to replace lithium-ion batteries in electric cars and gadgets, while sodium-based units would be better for storing power from solar and wind, according to Korotchenkova.
Sodium has about 70% of the energy intensity of lithium, but is cheaper, making it more useful in industry where size is less important, she said. En+ hopes for a first prototype by the end of the year. Aluminum is abundant and has three times the energy intensity of lithium, Korotchenkova said.
The investment in battery research is seen at $1-million over three years. If successful, En+ would use sodium-based batteries at its own Abakan solar plant, as well as developing them as a separate business.
Any working aluminium-graphene technology may be sold to global battery producers or En+ may seek joint ventures.