A promising zinc-based battery technology could revolutionize the economics of energy storage. Ivan Penn reports in The New York Times about the innovations of Patrick Soon-Shiong and Nant Energy. He writes:
Over the past six years, 110 villages in Africa and Asia received their power from solar panels and batteries that use zinc and oxygen. The batteries are the basis of an innovative energy storage system created by NantEnergy, a company owned by Patrick Soon-Shiong, a biotech entrepreneur and surgeon originally from South Africa.
Thomas Edison tried to develop batteries made with zinc 100 years ago. But he did not figure out how to make them technologically viable. NantEnergy says its zinc air batteries are the first to become commercially available.
Scientists at NantEnergy said they had achieved two key goals: to make the batteries rechargeable, and to lower their cost for energy storage to $100 per kilowatt-hour. That is a figure that some people in the industry have said is essential to creating a carbon-free electric grid that operates even when the sun is down and the wind abates.
Zinc air batteries are one of several potential alternatives to lithium-ion batteries, which have been the focus until now for large-scale power storage and electric vehicles.
Read more here.
Jeremy Jones, CFA
Latest posts by Jeremy Jones, CFA (see all)
- Is the Socialist Bent of the 2020 Presidential Race a Threat to Markets? - April 18, 2019
- Do You Want the Fed to Raise Prices? - April 17, 2019
- As Disney Moves to Consolidate Hulu, AT&T Prepares its Own Netlflix Competitor - April 16, 2019