FinancialBuzz.com’s latest Buzz on the Street Show: Featuring Our Corporate News Recap on “MGX Minerals Announces Phase Two Development of Silicon Based Anode for High-Energy Lithium-Ion Batteries”
MGX Minerals Inc. (OTCQB: MGXMF) (CSE: XMG) reported today that it’s collaborative research partnership with the University of British Columbia (“UBC”) has completed a comprehensive baseline assessment of metallurgical silicon originating from each of the
Company’s three silicon projects in southeastern British Columbia. MGX and UBC are working together to develop next-generation Li-ion batteries capable of quadrupling energy density from current 100 Wh/kg up to 400 Wh/kg for use in long-range electric vehicles and grid Storage.
MGX Minerals is a diversified Canadian resource and technology company with interests in global advanced material, energy and water assets.
According to recent data provided by Zion Market Research, the global lithium-ion battery market was valued at around USD 31.17 Billion in 2016 and is expected to generate revenues of USD 67.70 Billion by end of 2022. Furthermore, the market is said to be growing at a CAGR of slightly above 13.70% between 2017 and 2022. A lithium-ion (Li-ion) battery is a rechargeable battery which is mostly used for consumer or home electronics. These are popular among manufacturers due to their minor memory effect, high energy density, and low self-discharge. Li-ion batteries are also growing in popularity for military use, battery electric vehicles and aerospace applications. By region, North America is one of the largest regional markets in the global lithium-ion battery market. The lithium-ion battery market is mainly driven by the rising demand for smartphones and other consumer electronics devices. The U.S. is the key region in North America and plays a major role in the development of future lithium-ion batteries. In 2016, the U.S. accounted for over 72% of the regional revenue in this market and is expected to witness significant growth, owing to the increasing electric vehicle demand with the growing adoption of high-quality consumer electronics products.
The emergence of electric vehicles is excepted to have a significant impact on the Li-ion battery market. A recent announcement by Daimler illustrates the growth potential. According to a report by Tech Crunch the car manufacturer plans to buy USD 23 Billion worth of battery cells by 2030. Dr. Dieter Zetsche, Chairman of the Board of Management of Daimler AG and Head of Mercedes-Benz Cars explained, “Our electric offensive continues to gain momentum. After investing billions of euros in the development of the electric fleet and the expansion of our global battery network, we are now taking the next step: With the purchase of battery cells for more than 20 billion euros, we are systematically pushing forward with the transformation into the electric future of our company. We plan a total of 130 electrified variants at Mercedes-Benz Cars by 2022. In addition, we will have electric vans, buses and trucks.”
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