Charging ahead He said they aim to scale up to at least 100 GWh of installed production capacity by 2034. All three companies said early applications for their products will focus on industries such as drones and aerospace, which can benefit from lighter-weight lithium-sulfur batteries. From there, they aspire to work up to the major source of battery demand growth: EVs. While Shearing agrees that the use cases with a premium on lightweight design are well-suited for lithium-sulfur batteries, he expressed uncertainty about their adoption into EVs. Although lithium-sulfur batteries have a higher energy density by weight than current lithium-ion batteries, Shearing said they have a lower energy density by volume. Given the limited commercial development of lithium-sulfur battery manufacturing thus far, the technology is not expected to “have a significant impact on sulfur demand within this decade,” said Yuya Pan, a sulfur and sulfuric acid analyst with S&P Global. Still, Shearing sees an opportunity in the years ahead to take a “portfolio approach” to “more intelligently matchmake the right battery to the right application” and ensure more resilient, secure and sustainable supply chains. He said he expects lithium-sulfur batteries to appear in niche applications, like drones and electric vertical take-off and landings, in the next three years. “The hope is that that inspires the development of the wider industry,” he said. May 2024 Commodity Insights 41
Commodity Insights Conventional and new energy in focus: Page 41
