FREYR Battery, a European startup developing advanced lithium-ion battery cells for mass production, has signed a 31GWh off-take agreement with an energy storage system manufacturer. 

LG Chem and LG Energy Solution have agreed to make a US$50 million investment into lithium-ion battery resource recovery and recycling company Li-Cycle.

A “novel and innovative” technology which uses CO2 as a medium to store energy could be made using off-the-shelf equipment and made available to the market as early as next year, the company behind it has said. 

Supply chain shocks are causing short-term rises in the price of lithium-ion battery packs, but overall the price trend is downward and by 2024 average prices could dip below US$100/kWh.

The Democratic Republic of Congo (DRC) supplies most of the world’s cobalt, but exporting semi-finished or finished products rather than raw materials would better help the country capture the value of the metal used in high power lithium-ion batteries.

Canadian Solar subsidiary CSI Solar has signed a strategic cooperation framework agreement with Contemporary Amperex Technology Co. Ltd. (CATL) that will focus on energy storage and renewable energy technology.

Three recent interesting steps forward on lithium battery sustainability, a growing concern and area of interest for the clean energy sector. 

News in brief from around the world in energy storage.

Stem Inc has reported a year-on-year revenue increase of 334% and its first-ever quarter with positive gross margin (GAAP).

ENGIE will no longer proceed with a grid-scale solar-plus-storage project it was awarded in Hawaii, cancelling its order for 240MWh of battery storage from technology provider New HOrizons Ahead (NHOA).