Faradion Ltd., a leader in sodium-ion battery technology, has received its first order from ICM Australia for its high energy sodium-ion batteries for use in the Australian market.
Faradion’s sodium-ion technology provides similar performance to conventional chemistries, while replacing expensive materials such as cobalt and lithium with the far more abundant sodium. Unlike lithium-ion batteries, Faradion’s sodium-ion batteries have exceptional thermal stability and safety, says the company. Further they can be safely transported and maintained at zero volts.
In recent years, Australia and New Zealand have demonstrated a steady uptake in battery storage in residential, commercial and grid scale applications due to factors including significant reductions in the cost of storage and solar systems; increasing cost of electricity, concerns about blackouts and financial incentives and policies from the government.
Speaking on this order from ICM Australia, Thomas Gregson, ICM Australia Investment Director said, “This order represents a first step for an Australian company to commercialise world leading sodium-ion technology, and we’re pleased to be offering a premium product that is safe and price competitive to the Australasian market.”
“We have seen large interest in energy storage solutions recently and believe the Faradion technology can provide, in a sustainable way, the energy security customers require at attractive ROIs,” Gregson added.
Having seen significant interest in regions such as the US, Europe and India due to its performance, safety and price point, Australasia was the next logical region for Faradion given the market conditions”, said James Quinn, CEO of Faradion.
“Faradion is accelerating large scale industrialisation of its safe, low cost, sodium-ion energy storage technology. In Australia, the market for energy storage is primarily for household battery technologies to complement solar photovoltaic installations, although the market for larger-scale energy storage is growing.”
“Australia is a perfect market for supporting Faradion’s growth in the rapidly expanding energy storage market and to speed up the transformation of the global energy market,” Quinn added.
ICM Australia expects a range of world class Faradion sodium-ion batteries to be available for the Australasian market later in the year.
About Faradion Ltd.
Faradion is the world leader in sodium-ion battery technology that provides low cost, high performance, safe and sustainable energy. Its proprietary technology delivers leading-edge, cost effective solutions for a broad range of applications; including mobility, energy storage, back-up power and energy in remote locations.
Faradion’s patented zero-volt capability, enables the safe transportation and maintenance of Sodium-ion batteries. The wide operating temperature range, high energy density and fast charge/discharge capability combine to offer a next generation, drop-in solution. Its Sodium-ion batteries contain no cobalt, no lithium and no copper, resulting in a safe and sustainable, cost-effective, high performance technology.
About ICM Australia
ICM is an Australian based privately owned business/investment group. The group specialises in developing businesses and brands in industrial products, food and agribusiness globally.