Skeleton Technologies (hereinafter: ST) has developed a patented nano-structured carbon material (carbide-derived-carbon, CDC) with curved-graphene structure and applications ranging from energy storage in ultracapacitors and battery electrodes, gas adsorption to hydrogen storage. ST has identified ultracapacitors as the fastest growing segment of the activated carbon market and the application closest to full commercialisation.
This study builds on two questions: 1) in which markets and in which ultracapacitor value chain stages is the demand for CDC based products the strongest; 2) which high volume CDC production options are available and which to choose?
ST researched over 70 producers and analysed key applications and markets. Two significant opportunities were identified: 1) demand for CDC in sheet form as an electrode to emerging markets (mainly Chinese) manufacturers, who can thus gain an advantage over US, Japanese and Korean competitors; 2) fully assembled CDC ultracapacitors in European and US markets for the transportation, industrial equipment, renewable energy, power grid and high-end segments.
Research demonstrates, that a significant opportunity has opened up for ST to become Europe’s largest producer of ultracapacitors, with a dominant market share, and a leading supplier of electrode sheet to emerging markets. Both in-house and outsourcing manufacturing models were evaluated with a focus on quick go-to-market times.
The study established:
1) CDC products add customer value in terms of a smaller form factor and higher efficiency, power and energy content, resulting in wide market adoption and high market potential.
2) CDC products can significantly lower the cost per kW and Wh in comparison to competing activated carbons.
3) There is an attractive high-growth market for ultracapacitor grade CDC in material form. To capture higher margin opportunities, a higher value chain position and differentiation will be achieved by supplying CDC as electrode sheet instead of raw powder.
4) Cooperation with an industrial chemical partner is the most cost effective avenue for scale-up offering a lean capital structure and a quick go-to-market cycle.
