Since their commercial introduction in 1991, rechargeable batteries have been getting better, but the rate of improvement has slowed down. We still don’t have mass market smartphones that run longer than a day on a single charge.
The main reason why Li-ion batteries are nearing their full potential is the limitation of its key component—liquid electrolyte. On the contrary, novel with solid electrolyte batteries (solid-state batteries) have ~2x energy density, better performance & are safer to use. However, the complexity of their manufacturing have not allowed them to enter mainstream consumer applications.
We are developing new types of plasma evaporation vacuum manufacturing equipment that provides an engineering breakthrough over the iterative development of vacuum technology that has been taking place since 1980s. Our manufacturing process finally makes economies of scale work in thin-film solid-state batteries production, reaching the very low production costs. This cost price will make it economically viable to produce advanced thin-film batteries for such mass market applications as smartphones, smartwatches, wearables & other devices.
Despite of the current high production prices of solid-state batteries, the market is forecasted to grow to ~€2.8bn by 2021. As thin-film solid-state batteries manufactured with our technology are only 2-3X more expensive than Li-ion batteries (but ~13X cheaper than competitive thin-film solid-state batteries), we have an opportunity to disrupt the market, triggering overall shift towards solid-state batteries.
To bring our thin-film batteries to the market we will implement pilot portable device pilots with our batteries through tight collaborations with OEMs, generate early market traction through various wearable device verticals & build a production facility to manufacture thin-film batteries to meet the early demand.
We are aiming at ~€15m revenues & ~70 FTEs by 2022.
Fields of science
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