Novacium SAS Awarded € 90,000 (C$ 131,000.00) Grant Towards Work on its Engineered SiOx Anode Battery Material — HPQ Silicon Inc.
Summary
Novaciums project proposal to BPI concentrated on enhancing the entire value chain of highly engineered SiOx-based anode materials for batteries.Novaciums recognition by BPI as an innovative project with significant industrial impact underscores the value of our work, said Mr. Jed Kraiem PhD, COO of Novacium. With the upcoming results from our ongoing engineered SiOx battery tests, we plan to seek more BPI deep tech financing, potentially up to 2 million, to advance our project to a pre-commercial stage.BPI approved the grant following a rigorous selection process which involves having its sector experts validate the Novaciums deep-tech characteristics and the projects innovativeness combined with its industrial impact in France and worldwide.We are thrilled with Novaciums recent achievement and the BPI grant, said Mr. Bernard Tourillon, President and CEO of HPQ Silicon Inc. and NOVACIUM SAS. It further confirms that the need for engineered SiOx-based anode materials is a global necessity and highlights the Novacium/HPQ collaborative efforts in advancing cutting-edge silicon-based battery technologies.ENGINEERED SiOx BASED ANODE MATERIALS MARKET IS EXPANDING A major trend in the lithium battery industry is the introduction of small amounts (between 5% and 10%) of silicon oxide (SiOx) based additives into graphite composite electrodes. Its growth prospects indicate a potential demand of 300,000 tons by 2030, estimated at US$15 billion [4], according to one source, and US$ 131.6 billion in 2033 according to another source [5].Its important to highlight that silicon-based materials for Li-ion batteries currently make up a relatively small portion, accounting for less than 10%, of the global demand for graphite, which is primarily used in the manufacture of anode materials for Li-ion batteries. This graphite market is estimated to be worth US$25 billion in 2023 [6].Todays news, which can be considered a big milestone, validates our strategic partnership with Novacium and strengthens our collective position in the global market for reliable, sustainable and innovatively engineered SiOx battery materials, added Mr. Tourillon.REFERENCE SOURCES [1] The Royal Society of Chemistry 2020 Sustainable Energy Fuels, 2020, 4, 53875416 [2] QY Research, SNE Research, Shinhan Securities / NBM June 2023 Deck page 11 [3] The global silicon anode battery market is likely to be valued at US$ 2.7 billion in 2023.