LG Chem seems for promising battery start-ups
LG Chem introduced a brand new initiative – The Battery Problem – within the type of an open innovation contest for start-ups with new battery applied sciences.
The South Korean firm provides greater than $1.9 million in funding to eight chosen start-up corporations (functions are accepted till November 2) and the likelihood to associate with LG Chem on joint know-how growth, entry to commercialization alternatives, and so forth.
Principal focal point for LG Chem are 4 classes:
- battery materials
- battery administration and management
- design, manufacturing and processing
- recycle and regeneration
LG Chem revealed that its automotive battery enterprise has exceeded 60 trillion gained (approx. $ 53.263 billion) in order backlog by the top of the primary half of 2018, which seems like tons of of GWh.
Extra data right here: The Battery Problem
From press launch:
LG Chem, South Korea’s main producer of superior lithium-ion batteries, runs its first open innovation contest ‘The Battery Problem’ to assist start-ups specializing in new battery know-how to strengthen its competitiveness within the trade.
LG Chem is accepting functions till November 2nd. The fields of utility are separated into 4 classes: ‘battery materials’, ‘battery administration and management’, ‘design, manufacturing and processing’ and ‘recycle and regeneration’. Begin-ups can apply and obtain detailed data via the official web site. (https://batterychallenge.co/).
The corporate asks all contributors to submit their know-how descriptions and enterprise plans, which can then be fastidiously analyzed and evaluated to select the highest eight. Purposes are inspired to deal with know-how and innovation within the battery sector. The chosen corporations will then be invited to ‘Demo Day’ in Silicon Valley, USA, round February of subsequent yr to current their enterprise plans.
The finalists will probably be chosen via the holistic analysis of every marketing strategy and presentation, making an allowance for every start-up’s feasibility and marketability within the sector. LG Chem offers a chance to obtain greater than $1.9M in funding via a proper partnership settlement and also will proceed to develop associated applied sciences via joint analysis tasks.
Strengthening technological competitiveness via open innovation.
LG Chem’s aim is to find revolutionary applied sciences and improve competitiveness via energetic open innovation.
In June of this yr, the corporate hosted the ‘World Innovation Contest (GIC)’ in an effort to advertise technical cooperation between LG Chem and academia. Outstanding universities and analysis institutes from world wide took half, significantly these engaged on revolutionary applied sciences in 5 promising enterprise areas: vitality, setting, practical supplies, biotechnology and platform know-how.
LG Chem’s ongoing effort to innovate is without doubt one of the many the explanation why the corporate is now a pacesetter within the battery trade. LG Chem has achieved quite a few milestones since getting into new enterprise fields similar to car batteries, ESS batteries and small batteries.
The automotive battery enterprise has secured international clients with its superior know-how and has exceeded 60 trillion gained (approx. $ 53.263 billion) so as backlog by the top of the primary half of 2018.
On high of successful the ‘ees Award’ two years in a row at one of many world’s largest ESS exhibitions ‘ees Europe’, 2016 & 2017, LG Chem additionally took house America’s Brad Roberts Award in 2017. That is awarded by the Vitality Storage Affiliation (ESA) to honor the most important contributors to the event of the North American ESS trade every year. LG Chem’s ESS battery is widely known within the trade as a number one revolutionary know-how.
As well as, LG Chem has lately achieved exceptional progress in varied enterprise fields similar to IT, the place the launch of low-cobalt batteries for pocket book computer systems within the small-sized battery enterprise proved to be an amazing success. The corporate has achieved excellent leads to the battery enterprise because of its top-of-the-line battery know-how.
LG Chem’s battery manufacturing technique ‘Lamination & Stacking’ know-how stacks electrodes and separator layers. This technique will increase vitality density by maximizing the inner area effectivity of electrical automobiles, ESS, sensible telephones and so forth. In March of this yr, LG Chem acquired the LG Analysis & Growth Prize for ‘Free Kind Battery,’ which makes use of this know-how to understand the utmost capability within the restricted area discovered inside a smartphone.
LG Chem plans to deal with R&D funding within the area of revolutionary batteries, which may far exceed the boundaries of standard batteries, similar to funding in excessive capability electrical vehicles, small batteries and excessive energy ESS batteries with low cobalt content material.
Moreover, the corporate will proceed to strengthen its R&D in varied areas, similar to revolutionary batteries, via the energetic search and assist for uplifting start-ups with revolutionary battery applied sciences.