Global safety science leader UL and Hyundai Motor Co. signed a memorandum of understanding to help further the safe deployment and use of second-life battery energy storage systems (SLBESS).
The two said they will collaborate on SLBESS initiatives, including safety testing and assessment, a North America product demonstration project, and evaluation process development. They said they intend to use their worldwide presence to further SLBESS market adoption.
Second-life batteries often consist of electric vehicle batteries that no longer meet the requirements of automotive applications, but are still worthwhile additions as grid-connected energy storage devices.
As the EV market grows, attention is focusing on battery reuse. In 2018, UL participated in developing UL 1974, the Standard for Evaluation for Repurposing Batteries, a bi-national standard of the United States and Canada. In 2019, 4R Energy Corp., a joint venture of Nissan Motors and Sumitomo Corp., became the first organization certified to that standard.
Improvements in lithium extraction, battery efficiency upgrades, lithium battery recycling, and battery reuse all present market opportunities as the world shifts the way it uses energy.
The global lithium-ion battery market is expected to grow from $40.5 billion in 2020 to $91.9 billion by 2026, as demand for electric vehicles, battery energy storage, and electronics continues to ramp up.
Lithium battery growth is a part of national plans to evolve and decarbonize the energy and transportation sectors, as evidenced by the United States Department of Energy (DOE) making $200 million in funding available to support the full value chain of batteries, from raw materials to end-user products such as EVs and battery storage systems.
DOE and the Biden administration have identified the need to establish a secure end-to-end battery materials and technology supply chain that supports economic competitiveness, job creation, and national security.
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