Lithium Ion Batteries
The Sunrise Battery Materials Complex is ideally placed to become a major supplier of raw materials to the lithium-ion battery (LiB) market in the near future. The market is experiencing significant growth as the electrification of vehicle drivetrains become increasingly practical and cost-effective, particularly compared with conventional fossil fuel powered vehicles.
The Sunrise Project will produce high quality, battery grade nickel sulphate (NiSO4.6H2O) and cobalt sulphate (CoSO4.7H2O), critical materials in the manufacture of the cathode in lithium-ion batteries.
The global LiB market has grown at a 20% compound annual growth rate over the last ten years. Such growth is mainly due to the steady growth in portable electronic devices (laptops, smartphones, etc.) and, more recently, the emergence of automotive applications. Forecasts for LiB demand growth vary but even the most conservative estimates predict rapid growth over the next ten years. Much of the current acceleration in demand for LiBs is resulting from their use in EVs.