Sweden-based battery developer and producer, Northvolt has recently announced taking over a majority stake in the U.S-based battery technology firm- Cuberg, for an undisclosed amount.
Through this acquisition, the battery manufacturer is looking towards establishing an advanced technology center and facility in Silicon Valley to accentuate the development of lithium metal cell, while also optimizing the technology for automotive applications. Moreover, it is planning on commercializing new lithium metal cells for vivid applications.
In an official press release it was mentioned that the new lithium cells are likely to offer higher energy density, enhanced performance, lower price point, and increased safety. Besides, it would be essential to quote that Northvolt plans to produce those new cells while making use of lithium-ion production lines for electromobility solutions. Further, the aim is to begin with electric aviation first and then move to EVs.
It has been reported that the energy density of Cuberg cells is generally described as 70% higher than comparable lithium-ion cells developed for high rate electric aviation applications. However, the production version is now estimated to offer more than 1,000 Wh/L by 2025.
According to the sources close to the companies, while building on the current foundation, both Cuberg and Northvolt are seeking to develop their industrial and automotive product portfolio with an intent of industrializing cells in 2025 that exceed 1,000 Wh/L, alongside meeting the entire gamut of automotive customer requirements.
Additionally, it was cited that Cuberg’s new technology is deemed to be deployed at scale in electromobility markets within the upcoming three years, beginning with electric aviation.
For the record, Northvolt already boasts of an expansive spectrum of investors and financial backers including Activate.org, Boeing HorizonX Ventures, Tomkat Center at Stanford, the U.S Department of Energy, and the California Energy Commission. It also has a huge list of customers including the prominent ones like BETA Technologies, Boeing, VoltAero, and Ampaire.