Alsym Energy, a developer of non-lithium rechargeable battery technology, has developed a high-performance, non-flammable battery storage technology suitable for warmer climates. Alysm says this presents a generational opportunity to bring new, diverse industries to the Middle East.
Alysm did note however that expensive, fire-prone battery technologies are serious impediments to ambitious plans for rapid growth, even in climates with abundant sun or wind, ideally suited to renewable energy production.
“When it comes to lithium-ion batteries, the level of fire risk increases as the mercury rises,” said Alsym CEO & Co-Founder Mukesh Chatter.
The low-cost, high-performance rechargeable battery chemistry is lithium and cobalt-free, and ideal for applications such as stationary storage, maritime shipping, and electric vehicles.
By using readily available, inherently non-toxic and non-flammable battery materials, Alsym is working to deliver wide-duration storage with performance comparable to lithium ion at a much lower cost, helping to speed the pace of decarbonization globally.
“Recent battery storage fires in Australia, France, and the United States have required evacuations and shelter-in-place orders, and some cities are considering significant restrictions and even bans. We need to be looking beyond lithium-ion if we’re going to safely and responsibly deploy the amount of battery storage necessary to make a full transition to renewables,” added Chatter.
The announcement comes as Mr. Chatter prepares to deliver remarks at the 7th Edition of the Future Investment Initiative Institute’s upcoming flagship conference in Riyadh, Saudi Arabia (FII7).
First organized in 2017, FII7 is a global nonprofit foundation featuring an interactive program designed to help investors recalibrate the pathways for their companies and for the global economy.