Blockchain Press Releases
Cheaper and Safer Sodium-Ion Batteries on the Horizon, Reports IDTechEx
BOSTON, July 14, 2023 /PRNewswire/ —
Diversification in the Energy Storage Industry Is Foreseeable
As the world progresses rapidly towards electrification, the energy storage industry is increasingly reliant on critical raw materials such as lithium and cobalt. Diversification of battery chemistries is critical for long-term capacity growth. It should be self-evident that no single battery chemistry possesses all the attributes for every single application – each market has its nuances and requires unique solutions. The sodium-ion (Na-ion) chemistry will certainly not be the answer for all applications; however, it will be well-suited to complement, rather than displace, the existing and future lithium-ion technologies in many applications. Concerns of energy security and geopolitical considerations in the supply chain also drive nations without local access to lithium-ion raw materials to seek alternative chemistries to meet energy storage demands.
Small Pilot Plants and Big Plans
Currently, mainly pilot plants are running, and a few smaller factories are starting up, which only produce a few gigawatt hours (GWh) of Na-ion batteries per year, but the capacities that have been publicly announced by various raw material manufacturers alone add up to well over 100 GWh over the next three years. However, once the production processes are known, it takes less than two years to build up further capacities. By 2025, significantly more capacity can be built up than has been financed so far if investors are found for it in the course of 2023. The forecast of a radical conversion of a large part of the industry to a new technology in a few years may sound bold, but in the last five years alone, this has happened twice in the battery industry with NMC811 and LFP. Na-ion requires hardly any new plant technology, just different starting materials and production parameters. The latest report from IDTechEx, “Sodium-ion Batteries 2023-2033: Technology, Players, Markets, and Forecasts“, covers the global commercialization efforts of Na-ion batteries by analyzing patents and finds that China is taking the lead once again.
Outlook: Demand Not Limited by Lack of Raw Materials
IDTechEx forecast that by 2025, around 10 GWh of Na-ion batteries will be installed as significant manufacturing capacities come online and existing Li-ion lines are converted to Na-ion production. Success (or failure) for one player can significantly impact the market. A CAGR of 27% is expected for the period 2025-2033. Growth follows a similar market growth rate as that of Li-ion batteries. Over the next 10 years, the addressable markets will likely be far higher than the expansion of Na-ion supply chains and manufacturing capacities or even demand. But there may be potential for more rapid growth than forecast once the technology is trusted, qualified, bankable, available, etc. Importantly, Na-ion is a drop-in technology to Li-ion’s current production lines. Gigafactories can be retrofitted to produce Na-ion cells relatively quickly. The production capacities of the material manufacturers also indicate that significantly more companies will build their own sodium batteries in 2024 and that there could be much larger capacities in 2025.
Significant Savings Over LFP Are Unlikely Initially
There is currently no cost-effective battery technology with an energy density between lead and lithium batteries. According to IDTechEx research, the average cell cost for Na-ion batteries is US$87/kWh taking different chemistries into account. By the end of the decade, the production cost of Na-ion battery cells using primarily iron and manganese will probably bottom out at around US$40/kWh, which would be around US$50/kWh at the pack level. Na-ion cells are likely to come at a price premium initially, but IDTechEx expect a drop in cost/price in the short term through manufacturing efficiencies, scale, and technology development. However, long-term cost reductions become harder as technology and manufacturing become more established and mature. The IDTechEx report includes modeling of various Na-ion chemistries with a breakdown of the material and prices.
Sodium Is Not the End for Lithium
For most EVs, volumetric energy density is the first or second priority because the more space a battery cell takes up for a given energy density, the fewer cells you can squeeze under a vehicle, limiting range. For grid storage, the space that the battery packs take up doesn’t affect their commercial viability, and the priority is the cost per kWh per cycle. Commercial energy storage is all about cost control, and this is where sodium ions can potentially dominate other chemistries. The greatest potential in transport applications for Na-ion batteries exists wherever the energy density of lithium batteries is not fully utilized. This includes almost all electric cars with a so-called standard range, i.e., reduced battery capacity compared to more expensive models of the same construction. There, sodium batteries with higher charging speeds and less capacity loss in cold temperatures could represent a very attractive alternative. Above all, thanks to this alternative energy storage technology, lithium batteries will be available where they are truly indispensable.
To find out more about the IDTechex report “Sodium-ion Batteries 2023-2033: Technology, Players, Markets, and Forecasts“, including downloadable sample pages, please visit www.IDTechEx.com/Sodium.
About IDTechEx
IDTechEx guides your strategic business decisions through its Research, Subscription and Consultancy products, helping you profit from emerging technologies. For more information, contact [email protected] or visit www.IDTechEx.com.
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Media Contact:
Lucy Rogers
Sales and Marketing Administrator
[email protected]
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LinkedIn: www.linkedin.com/company/IDTechEx
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DUBAI, UAE, Nov. 15, 2024 /PRNewswire/ — Bybit, the world’s second-largest cryptocurrency exchange by trading volume, opens up the November arena for the Bybit Crypto Titans trading competition. Available for users in select regions, a prize pool of 55,000 USDT will be available for a limited time only.
From now to Nov. 30, eligible traders can level up their trading strategies and amplify their winning chances by inviting friends to share two prize pools in two simple steps: register for the event at the Grand Arena, and invite friends and trade.
Battlefields: Once in the Arena, users can pick their battlefields. Up to 30,000 USDT are up for grabs in the Team Battlefield ranked by total trading volume, while another 15,000 USDT is reserved for traders in the Solo Battlefield competing by PnL(%).
More perks: Additionally, top traders and leaders will receive extra perks. Participants will receive a bonus 5 USDT for every new qualified referee, and the first 50 Team Leaders whose team exceeds a threshold amount in trading volume will be entitled to a 100 USDT bonus.
“As trading volumes overall are climbing, we are seeing so many talented traders in our community with a knack for navigating fast-moving markets. This event gives some of them an incentive to share their passion with their friends, and there is room for rewards for the solo trading pros to shine as well,” said Joan Han, Sales and Marketing Director of Bybit.
Market sentiment and activities have been trending up in recent weeks globally, and the enthusiasm is shared among users in niche markets. While traders rush to capture opportunities in a heated market, the Crypto Titans competition encourages users to bring out the best trading game and hone their trading skills for healthier returns.
Find out more about Bybit’s Crypto Titans: November Showdown, terms and conditions apply.
#Bybit / #TheCryptoArk
About Bybit
Bybit is the world’s second-largest cryptocurrency exchange by trading volume, serving over 50 million users. Established in 2018, Bybit provides a professional platform where crypto investors and traders can find an ultra-fast matching engine, 24/7 customer service, and multilingual community support. Bybit is a proud partner of Formula One’s reigning Constructors’ and Drivers’ champions: the Oracle Red Bull Racing team.
For more details about Bybit, please visit Bybit Press
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With thousands of press releases published each week, it can be difficult to keep up with everything on PR Newswire. To help finance journalists and consumers stay on top of the week’s most newsworthy and popular releases, here’s a recap of some major stories from the week that shouldn’t be missed.
The list below includes the headline (with a link to the full text) and an excerpt from each story. Click on the press release headlines to access accompanying multimedia assets that are available for download.
- Prosperity or catastrophe: #Insurance2040 study reveals four possible futures for the industry
By 2040, technological innovation driven by customer centricity could pave the way to greater climate resilience and more personalized offerings by the insurance industry. Alternatively, insurance could become a luxury afforded only to the wealthiest few. - Cardinal Health announces two strategic additions to its portfolio
Cardinal Health will acquire a majority stake in GI Alliance (GIA), the country’s leading gastroenterology (GI) management services organization (MSO), from a combination of GIA physician owners and funds managed by affiliates of Apollo. Cardinal Health will also acquire the Advanced Diabetes Supply Group (ADSG), one of the country’s leading diabetic medical supplies providers, for approximately $1.1 billion in cash. - BlackRock Launches New BUIDL Share Classes Across Multiple Blockchains to Expand Access and Potential of BUIDL Ecosystem
This initiative represents the next step in the evolution of the tokenization market, by enabling BUIDL to be used within leading blockchain-based financial products and infrastructure across ecosystems. - Primo Brands Corporation Announces Successful Completion of Merger of Primo Water and BlueTriton Brands
“I believe Primo Brands is positioned to be a leader in the healthy hydration beverage category, thanks to the strength of its iconic, sustainably-sourced brands, its robust operations and extensive North American network, and its responsible operation of numerous springs across the country,” said Dean Metropoulos, Non-Executive Chairman of the Board of Directors of Primo Brands. - Jackson Hewitt Tax Services Expands Workforce, Offering Job Opportunities Nationwide for Upcoming Tax Filing Season
The week-long event will launch the combined hiring of 18,000 employees to prepare for the upcoming tax filing season. The Jackson Hewitt hiring events are open to the public and include on-site interviews. Qualified candidates could receive a job offer immediately. - PNC Bank to Double Planned Branch Openings to More Than 200 Across Six States This announcement brings the bank’s total investment to approximately $1.5 billion to open more than 200 new branch locations in 12 cities across the U.S. over the next five years, while completing the renovations of 1,400 existing branches during the same time period.
- Alchemy Pay Expands Virtual Card Functionality with Google Pay Support The new card BINs added will significantly enhance the capabilities of crypto cards, expanding their support for a broader range of payment scenarios and improving transaction success rates. This advancement is particularly impactful when paired with Google Pay, one of the most popular and widely used digital payment platforms, trusted by millions for its convenience and security.
- Finaya Unveils Nationwide Homeownership Platform
From providing rich and current information about home values and property conditions, to finding helpful repair and remodeling providers, to shopping for and securing the right insurance, the platform simplifies the homeownership process, making it more accessible, convenient and efficient. - GenAI predicted to inspire revenue growth in 76% of businesses, but only 4% qualify as “leaders” in AI and analytics
Kearney’s report confirms that businesses are not only aware of how big data, AI, and analytics will impact revenue generation and enhance business strategies, but they are investing to stay ahead of the curve, too. - GameAbove Sports Acquires Meaningful Ownership Stake in Brisbane Bullets with NBA Legend George Gervin as Part of Ownership Team
This move marks a significant milestone for GameAbove Sports, a CapStone Holdings Inc. company, as it expands its influence on international basketball ahead of the Brisbane 2032 Olympics. - Most US shoppers are encountering generative AI while shopping without realizing it
A survey of 700 online shoppers in the US shows 71% are unaware of having used generative AI while shopping online even though most had recently shopped at retailers currently using it. 41% of customers say they would feel comfortable using a generative AI tool from a brand they trust.
For more news like this, check out all of the latest finance-related releases from PR Newswire.
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Blockchain Press Releases
Blockchain for Good Alliance Hosts Web3 Oscar, Celebrating Innovators Advancing UN’s Sustainable Development Goals
DUBAI, UAE, Nov. 14, 2024 /PRNewswire/ — The highly anticipated Web3 Oscar, a prestigious event hosted by the Blockchain for Good Alliance (BGA), celebrating blockchain projects driving real-world impact aligned with the UN’s 17 Sustainable Development Goals (SDGs). Industry leaders gathered in Bangkok to honour innovators shaping a sustainable future.
The event was part of BGA’s November lineup, featuring two major initiatives for global change through blockchain: the Sustainable Innovation Summit and the Web3 Oscar Awards.
Sustainable Innovation Summit: A Hackathon for Social Impact
Held from September 9 to November 11, 2024, the Sustainable Innovation Summit hosted a hackathon with a $100,000 prize pool, inviting participants worldwide to create blockchain solutions addressing key issues such as poverty, clean water access, and gender equality. The summit concluded with a Demo Day at the Grand Hyatt Erawan in Bangkok, where finalists showcased their projects to blockchain pioneers, investors, and industry leaders, with opportunities for incubation support and equity-free funding.
Rising Stars
In a cinematic presentation style, 10 shortlisted projects from across the globe, participating in the Sustainable Innovation Summit’s 17 SDGs Challenge, took the stage. Each team presented their blockchain solutions to address sustainability challenges, telling the story of a “hero” confronting a global crisis (one of the 17 SDGs), with blockchain as the “tool” they wield for change.
Winners for the 17 SDGs Challenge:
- 1st Place: Grand Social Impact Award 🥇 EthicHub
- 2nd Place: Outstanding Social Innovation Award 🥈 Plastic Odyssey
- 3rd Place: Emerging Impact Award 🥉 ResearchHub
Rising Star Awards (top 10 projects, in no specific order):
- Wavy Health
- LAKE (LAK3)
- KulaDAO
- erable°
- arkreen
- UCO Network
- Edu3Labs
Web3 Oscar Awards: Honouring Leaders in Blockchain for Social Good
Coinciding with the hackathon’s Demo Day on November 11, the BGA Web3 Oscar Award recognizes individual contributions to blockchain for social good across three categories, with up to 7 total winners.
Each category highlights individual efforts aligning with BGA’s mission.
The Collaboration Bridge Award honours individuals who have played a vital role in guiding the strategic direction of the Blockchain for Good Alliance (BGA). This year’s recipients are:
- Harn, CEO of Trigger Asset Management
- Mariana de la Roche Wills from INATBA (International Association for Trusted Blockchain Applications) and de la Roche W. Consulting
The Public Welfare Contribution Award celebrates individuals who have harnessed #BlockchainForGood. This award was presented to:
- BreeAnne Yek, Consultant at The Verdant Room
- Milica Dimitrijevic from Positiveblockchain.io
These individuals have demonstrated remarkable dedication, guidance, and pioneering work, significantly advancing the mission of the Blockchain for Good Alliance (BGA) in promoting sustainable development through blockchain technology.
In her closing remarks, Helen Liu, Co-founder and COO of Bybit and founder of BGA, explained how blockchain can bring people together to make a real difference worldwide. Her vision for leveraging blockchain to create worldwide impact was both inspiring and forward-thinking.
About Blockchain for Good Alliance (BGA)
The Blockchain for Good Alliance (BGA) is a long term collaborative non-profit initiative with key partners with the main aim to contribute to societal good by using blockchain technology to solve real world problems. By convening leaders, innovators, and organisations from across the blockchain community, BGA seeks to drive innovation, collaboration, and action towards a more sustainable and equitable world.
For more information
Email: [email protected]
Website: www.blockchainforgood.xyz
Twitter: www.twitter.com/chainforgood
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