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Industry News: Written Testimony of Simon Moores, Managing Director, Benchmark Mineral Intelligence
Benchmark Mineral Intelligence’s Managing Director, Simon Moores gave testimony to the US Senate Committee on Energy & Natural Resources on Oct 3rd. Mr. Moores acted as an expert witness on the supply chain risks and opportunities in a global energy storage revolution. He explored lithium, graphite, cobalt and nickel in relation to lithium ion battery demand and US supply security risks.
“Market momentum is now with lithium ion batteries and for this first phase of the energy storage revolution the choice has been made, certainly for EV. Over $35bn has been committed to expanding lithium ion battery plants while the lithium industry has raised $1bn to build new supply. This investment is short by some way.”
The report continued, “Just under 60% of the lithium ion battery industry’s anode is derived from natural graphite with synthetic graphite – produced from graphitizing petroleum coke and tar pitch at very high temperatures – accounts for ~40%.”
To read the full report please click here.