Periodic Reporting for period 1 - TT-Battery (Low cost, long durability rechargeable Green Battery based on Zn and MnO2 electrodes.)
Reporting period: 2018-02-01 to 2018-07-31
• the battery is able to perform more than 5000 cycles of charging and discharging, with a capacity loss < 5%.
• The innovative and patented cathode material provides the battery with high energy density.
• The low-cost materials used (Zinc = 2.5 €/kg, Manganese = 1.7 €/kg vs. Lithium = 15÷17 €/kg, Cobalt = 51 €/kg, Vanadium = 16 €/kg, Nichel = 10.2 €/kg) and the simple architecture leads to a target Cost of Production (CoP) and a market price much lower than competing technologies.
• Materials used are non-polluting and fully recyclable, reducing the end-of-life impact and the carbon footprint (4 kg of CO2,eq emitted per kg of TT-Battery vs. 12.5 kg/kg due to Li-ion batteries production). TT-Battery will be the first Green Battery on the market.
In order to industrialize and commercialize the technology, Tuscan Tech needs to:
• manufacture and test a Minimum Viable Product (MVP) for utility-scale and large Renewable Energy power plant application, in order to validate on the field the technology performance;
• certify the product;
• industrialize the technology, protecting the new intellectual property generated and launching the technology to prospective investors;
• develop and implement the go-to-market and commercialization strategy.
1. Selection of the MVP and its preliminary design;
2. Definition of the business model and of the go-to-market strategy, development of a 5-year Profit & Loss forecast and of the SWOT / Risk Mitigation analysis;
3. Update of the market analysis for the utility scale stationary application and Energy Service Companies sectors;
4. Definition of the work plan and budget for the Phase 2 project;
5. Supply & Value chains definition, meetings with key partners;
6. Customer Validation
7. IPR analysis.
The main results achieved are summarized in the following:
• the market framework is extremely favorable. The battery systems for stationary applications is a multi-billion booming market which will reach 100 - 167 GWh in 2030 at least from 11 GWh currently installed (2017 data).
• Tuscan Tech structured a TT-Battery Business Model strategy based on a dual approach: Corporate Venture and Licensing. The partner selected for technology industrialization will manufacture and realize the first full-scale industrial plant in 2021 and the full commercialization will start from 2022, firstly in Europe, then in USA, China, South America and Australia.
• A complete Bill of Material and Cost of Production (CoP) evaluation has been performed. The learning curve will allow to reach the CoP target of 150 €/kWh when 1.000 battery packs are produced.
• A draft of the Phase 2 project budget and workplan has been provided.
• Value and supply chains have been defined and studied. The main suppliers have been contacted to fix the supplying cost for MVP fabrication. Key technological/financial partners have been engaged.
• Customers have been contacted and met.
• A preliminary Risk Analysis has been performed and a Risk Mitigation strategy developed to demonstrate how the TT-Battery initiative will manage its risk profile.
• Key Stakeholders for TT-Battery promotion and dissemination, for product certification and for IPR protection have been identified.
TT-Battery market success would lead to: 1) the increase of Renewable Energy penetration beyond the current technical limit of 25%; 2) the improvement of electrical networks and of the power power plants efficiency.
From a preliminary assessment, a TT-Battery market penetration of 3 GWh/year will allow a reduction of CO2 emission in the order of 80 ktons/year.