LG Chem and CalCharge, a California Clean Energy Fund (CalCEF) program, announced the Battery Challenge, a startup innovation competition designed to accelerate the adoption of new battery technologies and business models around the world.
While the energy ecosystem faces an inevitable transition to renewables, energy storage remains one of its biggest challenges. Innovation in battery technology will have significant impact on the proliferation of the electric vehicles and energy storage systems (ESS). The end game is eliminating constraints for substituting 100% renewable energy for current fossil fuel based sources for a clean, safe and independent energy economy everywhere.
“Disruptive innovations are required in new battery technologies, and I believe that it would be started with game-changing ideas from startups,” said Dr. Youngduk Kim, VP of Technology Strategy, LG Chem. “We understand customer’s needs and technological bottlenecks in the battery industry better than anyone. If your startup wants to bring your products to the global market, we could be your best partner.”
“By leveraging the expertise and network of LG Chem, battery startups have a once in a lifetime opportunity to rapidly accelerate the adoption of their battery technologies with the best in the industry, said Danny Kennedy, Managing Director of the California Clean Energy Fund.
Battery startups building solutions across the value chain from new materials to recycling and regeneration are encouraged to apply for the competition. Eight participants will be selected to participate at the Demo Day in Silicon Valley and pitch in front of LG Chem’s research and innovation departments. $100,000 cash prizes will be distributed among five with no strings attached. Additionally, there will be $1.9m investment opportunities available for the selected finalists.
In addition to the cash prize, up to eight of the Demo Day participants will be selected as finalists to join in a week-long sponsored workshop and tour in South Korea to visit LG Chem’s science park and R&D center in Daejeon to discuss customized commercial partnerships.
The Battery Challenge application deadline is on November 9, 2018.
To enter the Battery Challenge, apply at: batterychallenge.co.
For more information, contact firstname.lastname@example.org
Innovative incorporations of new materials into batteries are making this technology last longer, charge faster, and operate more safely. Material science innovation can enhance anodes, cathodes, electrolytes and separators.
Management and Control
Management and control includes cell balancing, fast charging, and thermal management technologies. Systems that allow for maintenance and control will revolutionize the way we use batteries.
Design, Manufacturing, and Processing:
Innovative cell design and manufacturing processes that explore alternative structures and formats that helps reduce cost and enhance performance and life.
Recycle and Regeneration:
There has been an increased demand in identifying ways to recycle and regenerate spent batteries. Solutions and processes that can extract the valuable elements while minimizing the negative impact to the environment.
About LG Chem
Since it was founded in 1947, LG Chem has grown to become the leader in the chemical industry in Korea. It built a global network for production, sales, and R&D, and has provided globally competitive products such as advanced battery systems, polarizers and EV battery cells. LG Chem’s departments range from Basic Materials & Chemicals Business to Energy Solutions, IT and Electronic Materials. LG has recently expanded its business into the Life Science area, to build the long-term foundation for sustainable growth by selecting and concentrating on the ‘energy’, ‘water’ and ‘bio’ businesses as the new growth engines for LG Chem. LG Chem is committed to becoming a global company that realizes its vision of “growing with customers by providing innovative materials and solutions.”
CalCharge, a California Clean Energy Fund (CalCEF) program is a groundbreaking public-private partnership working to accelerate the development, commercialization, and adoption of new energy storage technologies for the consumer, transportation, and grid markets. CalCharge brings together emerging and established companies, academic and research institutions, government agencies, and other key stakeholders to spur advanced manufacturing and increase the growth of the energy storage sector.