Chevron will be engaged in battery energy storage for EV chargers?
Interesting news comes from Chevron, which through Chevron Technology Ventures (CTV) made a strategic investment in Natron Energy (formerly Alveo Energy) - an energy storage company that is developing a new high power, long cycle life, low-cost battery.
Area of interest for CTV are energy storage systems for stationary energy storage systems for demand charge management at electric vehicle charging stations.
It seems that even Chevron would like to catch on the EV revolution before it's too late.
Here is what press release says about the long-lasting Natron Energy's Prussian Blue electrode chemistry:
"Natron Energy will adapt its battery technology, originally developed for data center and utility scale applications, to meet the power requirements of the emerging EV fast charging market."
"Prussian blue dye, commonly used in blueprints, stores and releases energy in the form of sodium ions. Unlike the electrode materials found in most lithium-ion batteries, Prussian blue enjoys a widespread availability and low cost that make batteries based on Prussian blue electrodes an economically attractive, environmentally friendly technology."
"Natron’s patented technology uses Prussian blue pigments in both the positive and negative electrode of the battery. Prussian blue has a unique structure and composition that allow it to store energy much more rapidly and reversibly than other types of battery electrodes. For this reason, batteries based on Prussian blue can be fully charged and discharged tens of thousands of times at very high power. This has allowed Natron to build the first battery in which chemistry does not limit the lifetime of the system, opening up new opportunities for energy storage to support EV charging, renewables such as solar and wind, and industrial applications. In addition, Natron’s batteries provide improved safety compared to incumbent technology as they are nonflammable during overcharge, hard short circuit, nail penetration, and under external heating to over 200° C."
Jesse Teichman, who led the investment by CTV said:
“Chevron Technology Ventures is excited about the opportunity to support Natron Energy’s development of high-performance energy storage systems. The high-power density and fast charging time of Natron’s unique battery technology make it an attractive storage solution for the EV station of the future.”
Barbara J. Burger, CTV’s president said:
“This investment furthers CTV’s objective to foster and support the innovation that will enable the next generation of energy products and services,”
Colin Wessells, CEO at Natron Energy said:
“Vehicle electrification will be one of the defining economic trends of the next decade. Widespread EV adoption depends in part on technologies that enable ubiquitous fast charging and that mitigate drivers’ range anxiety. As a global leader in transportation energy services, Chevron has recognized this. We are thrilled that CTV has chosen to support Natron. This investment provides a terrific boost to us as we develop and demonstrate energy storage products that will make fast charging stations a reality.”