Venture investments in alternative energy are breaking all records
Moving away from fossil fuels is becoming more real, and the transition to renewable energy is getting closer. Recently, the UN released a major report on climate change, with a key takeaway that unless humanity drastically reduces the use of coal, oil and gas in the coming years, the consequences for the environment are going be catastrophic.
To battle climate change governments of the United States, the European Union, China and other countries have adopted policies to limit carbon dioxide emissions. One of the most significant issues is the replacement of vehicles (buses, heavy trucks, etc.) with internal combustion engines for electric ones. In early August, US President Joe Biden signed a decree that half of the cars sold in the US should be electric by 2030.
Although the decree is advisory in nature, it was supported by many world auto concerns. General Motors and Ford Motors in a joint statement promised to increase the share of electric vehicles to 40–50% by 2030, the same goal is pursued by Hyundai and Nissan. Audi intends to completely stop selling cars with internal combustion engines by 2033. There are also manufacturers who rely solely on electric vehicles, such as Tesla or LiAuto.
Green venture
There are also a lot of startups developing technologies in the field of renewable energy. According to BloombergNEF, in the first half of this year, venture and private equity investments in alternative energy startups escalated by 111% to $5.7 billion.
Raison app users still have a chance to invest in StoreDot — a manufacturer of lithium-ion batteries. Recently, StoreDot has produced a prototype of the world’s first 10-minute rechargeable cylindrical lithium-ion battery. It has a form factor of 4680, that is, a diameter of 46 mm and a height of 80 mm — in September last year, a battery with the same form factor was presented by Tesla.
According to unofficial data, the 4680 Tesla battery prototype charges in at least 15 minutes, while StoreDot claims 10 minutes. It is difficult to compare since both companies have not yet started mass production of products. Tesla was set to roll out its first production line this year, but its launch appears to be delayed. StoreDot intends to begin mass production of 4,680 batteries at the factories of its Chinese partner EVE Energy in 2024.
The 4680 form factor cylindrical battery is more powerful and more energy-efficient while being safer and cheaper to manufacture. According to StoreDot, batteries of this particular form factor are currently the most interesting for electric car manufacturers. The company announced that it is “at an advanced stage of negotiations” about partnerships with many EV market players.
Along with cylindrical batteries, StoreDot is not backing out on plans to produce pouch cell batteries by 2024. The main element in them will also be silicon: for the same manufacturing cost, StoreDot XFC (StoreDot Extreme Fast Charging) technology will reduce battery charging time by 50%.
Download Raison App and find private equity companies on our marketplace!
