Expansion in deployments of utility-scale energy storage [BIG mama batteries!] to skyrocket in coming years, which the company sees as an important market for its cobalt.
Global cumulative storage deployments Chart
Source: Bloomberg New Energy Finance
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From Clean TeQ:
Nickel & Cobalt for Lithium Ion Batteries
Cobalt and nickel are critical raw materials in the production of cathodes for the lithium-ion battery (LiB) market. These metals are used in the production of precursor materials, which are converted to cathode active material for use in the batteries.
The battery industry requires nickel and cobalt to be supplied in specific chemical form for production of precursor material. In the case of both cobalt and nickel, this is generally in the form of hydrated metal sulphates (CoSO4.7H2O and NiSO4.6H2O). The demand for lithium-ion cells is anticipated to grow strongly over the next decade as production of electric vehicles increases and batteries become an important component in utility-scale energy storage systems.
Syerston’s [now "Sunrise"] high cobalt grades, combined with Clean TeQ’s proprietary Clean-iX® technology to produce the specific cobalt and nickel sulphates required by lithium-ion cell manufacturers, positions the Company to benefit from strong forecast growth in demand for LiB’s.
The global LiB market has grown at a 20% compound annual growth rate (CAGR) over the last 10 years1, mainly due to the steady growth in portable electronic devices (laptops, smartphones, etc) and, more recently, the emergence of automotive applications. Forecasts for LiB demand growth vary, but even the most conservative estimates are predicting LiB demand to experience rapid growth over the next 10 years.
CLQ Price at posting:
$1.50 Sentiment: Buy Disclosure: Held
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