Mining and the energy storage value proposition

Canada has the enviable position of being relatively rich in natural resources, while having one of the cleanest, low-cost and most reliable electricity grids in the world. However, Canada, along with many other nations, is facing a paradigm-shift in the way electricity systems are built, owned and operated. This modernization of the grid , as well as the electrification of vehicles and continued demand in consumer electronics are expected to create a remarkable market opportunity in energy storage technologies.

According to Navigant Research, the worldwide installed capacity for grid-scale energy storage is expected to grow from 538 MW in 2014 to 21 GW in 2024^{Footnote 1}. This is in addition to the anticipated growth of energy storage requirements in electric vehicles from 5500MW in 2013 to 45 GW in 2024. Combined, this growth will fuel a new market opportunity for the specialized materials that make up the components of the ES system – including vanadium, graphite and lithium. With few local high-quality sources of these essential materials, North American suppliers are in demand.

For mining companies producing these materials in Canada, and materials developers upgrading these materials to battery grade, an opportunity exists to become a reliable supplier of components for the ES technology market. For these companies, the critical question becomes:

“How can I tailor my raw materials to move beyond the commodity market and seize a growing opportunity in the energy storage value chain?”

A key step for many mining companies is to work with a trusted partner, whose expertise in materials development, energy storage technologies and supply chain development can help assess which products are most valued by the marketplace, and determine how to produce those products cost-effectively at the optimal quality.

Lithium, graphite and vanadium are all valuable resources that are currently mined or have the potential to be mined here in Canada. All three components are critical for developing the technologies that store energy for an electrical grid, and other applications such as vehicles and the consumer electronics market. In addition, materials like cobalt, nickel and manganese also play a supporting role in product development.

The challenge for mining companies is that it’s often difficult to determine which technologies or end-users should be their focus and, more specifically, how they need to process their materials in order to meet the needs of those end-users.

Complicating the situation further is the fact that energy storage is a dynamic market experiencing unprecedented growth. New technologies are constantly emerging and each has new specifications for their component inputs. Without a link to bridge the gap from raw material to the end-user, it becomes difficult for a Canadian company to keep informed of the latest opportunities and specifications that their raw materials are required to meet.

“When we work with mining and materials clients, they are given access to a full spectrum of knowledge and expertise,” says Christina Bock, who works with teams of researchers with decades of experience in materials modelling, design and characterization, process optimization, battery design and testing.

In fact, NRC helps clients take raw materials and convert them into market ready materials that can be incorporated into the energy storage supply chain. This is how:

With experts that understand the mining industry, along with the current marketplace for batteries in energy storage and electric vehicles, NRC offers a breadth of expertise that is unmatched.

To learn more, join us at our upcoming workshop on developing materials for the energy storage supply chain, at the Québec Mines conference, November 25 in Québec City. Registration is now accepted onsite.

Québec Mines workshop: Canadian raw materials supply chain for the worldwide battery market