Litarion capitalizes on lithium battery recall problems
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Message: Litarion capitalizes on lithium battery recall problems
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Litarion capitalises on lithium battery recall problems
July 08, 2016 // By Nick Flaherty
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Litarion in Germany has signed a multi-year deal worth €37 m ($41 m) in the first year to provide lithium ion batteries to a major OEM in the e-mobility industry.
This follows the recall of 500,000 self-balancing electric scooters, or hoverboards, from 10 firms in the US. The recall, by the Consumer Products Safety Commission (CPSC) says the lithium-ion battery packs in the hoverboards can overheat, posing a risk of the products smoking, catching fire and/or exploding.
Kamenz, Saxony-based Litarion is a subsidiary of Electrovaya in Toronto, Canada and uses a proprietary flexible ceramic separator, SEPARION, for higher safety and longer cell lifetime. It claims to be the largest supplier of Li-ion cells and components in Europe, with a 500 MWh annual electrode production capacity from a separator production capacity 10m square metres.
“Our multi-cell modules with laser welded tabs and built in sensors, are an attractive product for OEMs, who can use them as building blocks for many diverse battery applications in e-mobility,” said Fritz Mueller, Head of European Sales at Litarion. “Our flexible ceramic separator imparts outstanding safety to Lithium Ion batteries. This MOU further strengthens our reach into multiple industrial sectors and we are pleased in achieving this break-through into the electric mobility market with this major OEM,” said Mr. Mueller.
Shipments start in 20117 and the company expects the value to grow in the following years.
Last month Litarion signed a deal worth €199 m to supply battery modules for residential storage, and an €11 m deal to provide modules for electric busses in Europe and Asia. “We believe we will become a major supplier of Lithium ion cells and batteries to this emerging electric bus industrial sector”, said Mueller. “Our OEM partner has production facilities in both China and Europe and capable of driving massive sales.”
Read more at http://www.stockhouse.com/companies/bullboard/t.efl/electrovaya-inc#JrBYohHaHfLt3YuV.99
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