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From Technologies to Market Technology & Market Report From Technologies to Market Beyond Li-ion battery: present and future Li-ion technology challengers © 2016

Beyond Li-ion Batteries: Present and Future Li-ion Technology Challengers 2016 Report by Yole Developpement

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Page 1: Beyond Li-ion Batteries: Present and Future Li-ion Technology Challengers 2016 Report by Yole Developpement

From Technologies to Market

Technology & Market Report

From Technologies to Market

Beyond Li-ion battery: present and future Li-ion

technology challengers

© 2016

Page 2: Beyond Li-ion Batteries: Present and Future Li-ion Technology Challengers 2016 Report by Yole Developpement

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Biography & contact

ABOUT THE AUTHOR

Dr Milan ROSINA

Dr. Milan Rosina is a Senior Analyst for Energy Conversion & Emerging Materials at Yole Développement. Before joining Yole, heworked as a Research Scientist and a Project Manager in the fields of photovoltaics, microelectronics, and LED. Dr. Rosina hasmore than 15 years of scientific and industrial experience with prominent research institutions, an equipment maker, and a utilitycompany. His expertise includes new equipment and process development, due diligence, technology, and market surveys in inthe fields of renewable energies, energy storage, batteries, and innovative materials and devices.

E-mail: [email protected]

©2016 | www.yole.fr | Beyond Li-ion Battery: Present and Future Li-ion Technology Challengers - SAMPLE

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TABLE OF CONTENTS

Part 1/5

Introduction 8

Report Objectives 9

Who Should be Interested in this Report? 10

Scope of the report 11

Report Organization 12

Companies Cited in the Report 13

List of Abbreviations 14

Executive Summary 15

Li-ion Battery Applications 32

o Key messages

o Portable electronics

Li-ion battery for consumer electronics – trends

o Electric mobility

EV/HEV

Drivers for EV/HEV

CO2 reduction as a major factor for EV/HEV development

Electrification trends per geographical region

What are the remaining brakes for EV/HEV market?

Evolution of battery energy capacity per vehicle

Battery requirements for electric vehicles

Buses, trucks and other electric mobility products

o Stationary battery energy storage

Battery energy storage and renewable electricity sources

Benefits of battery energy storage solutions for PV and wind

Benefits of battery energy storage solutions for electrical grid

Benefits of battery energy storage solutions for buildings

Stationary battery pack market segments

Stationary battery market drivers

Requirements on stationary battery systems

Stationary battery energy storage products

Li-ion Battery Cost 57

Lithium-ion Battery Market 65o Key messageso Li-ion battery cell costso 2015 – 2025 lithium-ion battery market for portable electronics

(GWh/y)o 2015 – 2025 lithium-ion battery market for e-mobility (GWh/y)o 2015 – 2025 lithium-ion battery market for stationary storage (GWh/y)o 2015 – 2025 total lithium-ion battery market (GWh/y)

Li-ion Battery Technologies 74o Key messageso Battery cell components and materials usedo Why focus on Li-ion batteries?o Characteristics of today’s main battery technologies o Li-ion battery vs other battery typeso Li-ion battery chemistrieso Energy density of different Li-ion battery chemistrieso Which Li-ion battery type for which application?o C-rate: energy cell vs. power cello Lithium Polymer battery

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TABLE OF CONTENTS

Part 2/5

o Battery cell formats: cylindrical, prismatic and poucho New cell format: cylindrical 20700 cello From battery cell to battery systemo Battery cell vs. battery module vs. Battery packo Battery pack vs. battery systemo How ancillary components impact battery pack characteristics o What is the better approach today: a new cell or better ancillary

devices?o Battery pack – a multicomponent, multidisciplinary systemo Why is battery development driven by EV/HEV?o Battery sizes and applicationso Li-ion battery historyo Li-ion battery technology maturity for the main applications

Analysis of the Main Approaches for Li-ion Battery Challengers 101o Key messageso Where is the “Sweet spot” for new battery technologies?o Where are the limitations/weak points of Li-ion batteries?o How can advanced batteries compete with lithium-ion technologies?o Main players for Li-ion battery challengers

Technology maturity

Higher energy density

Lower cost

Higher safety

• Examples of Li-ion battery incidents

• Recent case study: Samsung Galaxy Note 7

Fast charging

• Li-ion battery types suitable for fast charging

Power density

Lower dependence on scarce material

Lower environmental impact

Cycle life

Others

Which battery characteristics are the most important for

customers?

Comparative Analysis of Present and Future Li-ion Challengers 134o What is the ideal battery technology?

For EV/HEV applications

For smartphones and portable computers

For stationary battery energy storageo How does application positioning of a given technology impact its

market potential?o Beyond li-ion technologies risingo Time-to-market assumptions for new technologieso Development timeline overview: present Li-ion challengerso Development timeline overview: future Li-ion challengerso Cell component developer vs. cell developer positiono What is the added value of different battery technologies? – comparative

tableo Which battery technology for which applications?o 2015-2025 market for Li-ion technology challengers (MWh)o 2015-2025 market for Li-ion technology challengers ($M)

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TABLE OF CONTENTS

Part 3/5

Li-ion Battery Supply Chain 154o Key messageso LIB supply chain overviewo Battery cell manufacturerso Cell manufacturers and different battery marketso Battery pack manufacturerso Battery start-up: How to cross the ”dead valley”

Focus on Solid-state Batteries 165o Key messageso Solid-state battery principle and battery structureo Solid-state battery: bulk battery vs. microbatteryo Liquid-electrolyte battery toward solid-state battery trends at Toyotao Why solid-state battery?o Challenges of solid-state batterieso Toyota EV/HEV battery development roadmap – solid-state batteryo Solid-state battery players and their relationships – overviewo solid-state battery companies – geographical positioningo Solid-state battery – recent M&A

Present Li-ion Battery Challengers 177

Sodium-sulfur (NAS) Battery 179o Key messageso Sodium-sulfur battery principleo Advantages and drawbacks of sodium-sulfur batterieso Sodium-sulfur battery applicationso NAS battery: from cell to battery containero NAS battery deployment around the worldo History of sodium-sulfur battery development at NGK Insulatorso Overview of sodium-sulfur battery companies and their relationshipso Sodium-sulfur battery companies – geographical positioningo Market potential for Sodium-sulfur batteries

Flow Batteries 191o Key messageso Flow battery principleo Classification of flow batterieso Advantages and drawbacks of flow batterieso Flow battery applicationso Flow battery for residential applications – 10kWh battery from RedFlowo Sumitomo’s large-scale flow battery project for Hokkaido Electric Powero Flow battery products – energy capacity vs. power capacityo Flow battery players and their relationships – overviewo Flow battery playerso Flow battery players – geographical positioningo Recent M&A, exitso Market potential for flow batteries

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TABLE OF CONTENTS

Part 4/5

Aqueous Sodium-ion Battery 207

o Key messages

o Sodium-ion battery types

o Advantages and drawbacks of aqueous sodium-ion batteries

o Example of an aqueous sodium-ion battery – Aquion Energy’s battery

o Applications for aqueous sodium-ion batteries

o Aqueous sodium-ion battery players and their relationships

o Aqueous sodium-ion battery players – geographical positioning

o Aqueous sodium-ion battery applications

o Market potential for aqueous Sodium-Ion batteries

Zinc-air Battery 217

o Key messages

o Zinc-air battery principle

o Advantages and drawbacks of zinc-air batteries

o Zinc hybrid cathode battery from EOS Energy, and zinc-air battery from

Fluidic Energy

o Commercial batteries from EOS Energy and their pricing

o Zinc-air battery players and their relationships

o Zinc-air battery companies

o Zinc-air battery – recent business exits

o Zinc-air battery companies – geographical positioning

o Zinc-air battery applications

o Market potential for zinc-air batteries

Lithium-ion Capacitor 229o Key messageso Lithium-ion capacitor principleo Why Lithium-ion capacitor?

o Main challenges for Lithium-ion capacitor

o Comparison of electric double-layer capacitor, Li-ion capacitor, and Li-ion

battery

o Lithium-ion capacitor – a technology “between two walls”o Case study – a hybrid battery-EDLC system (Duke energy + Maxwell)o Lithium ion capacitor cell formats

o Li-ion capacitor – examples of commercially available products o JM Energy Li-ion capacitor characteristics

o Li-Ion capacitor as a primary and secondary power sourceo Li-ion capacitor applicationso Lithium-ion capacitor players and their relationships

o Lithium-ion capacitor manufacturers

o Lithium-ion capacitor companies – geographical positioningo Recent movements within the Li-ion capacitor supply chaino Market potential for Lithium-ion capacitors

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TABLE OF CONTENTS

Part 5/5

Future Li-ion Battery Challengers 250

Lithium-sulfur Battery 252o Key messageso Lithium-sulfur battery principleo Why lithium-sulfur batteries?o Main challenges for lithium-sulfur batterieso Lithium-sulfur battery applicationso Overview of lithium-sulfur battery players and their relationships o Lithium-sulfur battery playerso OXIS Energy Li-S cell technology roadmapo Lithium-sulfur battery R&D consortium ALISEo Lithium-sulfur battery players – geographical positioningo Where is the potential for Li-S battery improvement?o Market potential for lithium-sulfur batteries

Organic-electrolyte Sodium-ion Battery 268

o Key messages

o Sodium-ion battery types

o Advantages and drawbacks of organic-electrolyte sodium-ion batteries

o Organic-electrolyte sodium-ion battery cell format and energy density

achieved

o Organic-electrolyte sodium-ion battery players and their relationships –

overview

o Organic-electrolyte sodium-ion battery players

o Organic-electrolyte sodium-ion battery players – geographical

positioning

o Market potential for organic-electrolyte sodium-Ion batteries

Magnesium Battery 277o Key messageso Magnesium battery principle and characteristicso Advantages and drawbacks of magnesium batterieso Magnesium battery electrolyte and cathode challenges o Magnesium battery applicationso What is the real potential of magnesium batteries?o Magnesium battery players and their relationshipo Magnesium battery players – geographical positioningo Market potential for magnesium batteries

Lithium-air Battery 286o Key messageso Lithium-air battery principleo Why lithium-air batteries?

o Main challenges for lithium-air batteries

o Lithium-air battery players and their relationships

o Lithium-air battery players – geographical positioning

o Lithium-air battery applications

o Market potential for lithium-air batteries?

Conclusion 295

Appendix: Company profiles 298

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REPORT OBJECTIVES

The objectives of the report are to:

• Provide an overview of the advanced battery market covering the three main application segments: portableelectronics, electric mobility, stationary energy storage.

• Illustrate the strong, consistently-growing market potential for battery players in the energy storage business

• Offer deep insight into existing Li-ion chemistries and their future applicative potential

• Identify existing and future advanced battery chemistries

• Deliver an overview of Li-ion battery supply chains and the developers of current and future batterychemistries (Li-ion challengers). Provide company profiles for key companies.

• Furnish an overview of existing Li-ion battery technology challengers, their advantages, challenges, mainapplications, and key developers/ suppliers.

• Show an overview of future Li-ion battery technology challengers, their advantages, challenges, main applications,and key developers

• Explain the needs of the different battery markets and analyze the added-values brought by Li-ion batterychallengers

• Analyze the drivers and technology challenges for battery makers, and provide a market forecast for advancedbattery chemistries

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SCOPE OF THE REPORT

Energy storage technologies analyzedin the report:

• Li-ion battery technologies (LCO,NMC, NCA, LFP…)

• Present Li-ion battery challengers(NAS, Li-ion capacitors, flowbatteries…)

• Future Li-ion battery challengerse.g. “beyond Li-ion” technologies(solid-state batteries, lithium-sulfurbatteries, magnesium batteries,lithium-air batteries…

• The battery “technology ousiders”or technologies which are beingovercome by Li-ion batteries inmost applications (Lead-Acid, NiCd,NiMH) are not analyzed in thisreport.

• The focus of the report is on thebattery cells with the energycapacity > 1 Ah.

• Li-ion capacitor has been analyzedhere as a sole non-batterytechnology because of the commontechnology/application features withLi-ion batteries.

• Other non-battery energy storagetechnologies (EDLC, thermalstorage, flywheels, compressed airstorage, etc.) have not beenanalyzed in this report.

Perf

orm

ance

/ C

ost

Time

Scope of this report (illustrative graph, not in scale)

Yole Développement

Present Li-ion battery

challengers

Lead-acid, NiCd, NiMH…

Li-S, Li-Air, Sodium-ion…

Scope of the

report

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REPORT ORGANIZATION

Appendix:

Company profiles

of the key

companies

Li-ion battery applications & market

Li-ion battery characteristics, performance and cost

Li-ion battery vs. present and future challengers: comparison and analysis

Weak point of Li-ion batteries and unmet customer needs

Focus on Li-ion battery present challengers

Focus Li-ion battery future challengers

©2016 | www.yole.fr | Beyond Li-ion Battery: Present and Future Li-ion Technology Challengers - SAMPLE

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Global battery cell market (GWh, $M)

OVERVIEW OF THE METHODOLOGY USED

• Our marketforecasts areobtained fromboth a bottom-up and a top-bottom approach(Application pulland Technologypush).

• The top bottomapproach startsfrom the globalbattery demandpresented in theprevious sectionsof this report.

• For the bottomup, we haveinterviewedvarious players atdifferent levels ofthe supply chain.

Portable electronics

Li-ion

Mobility applications

Stationary energy storage

Li-ion present challenger #1

Beyond Li-ion #1

Cell market (GWh, $M)

Li-ion present challenger #x

Beyond Li-ion #x

… …

+B

ott

om

-up

ch

ecks

Cell market (GWh, $M)

Cell market (GWh, $M)

Cell market (GWh, $M)

Cell market (GWh, $M)

Drivers / barriers

CostSupply

chain, Time-to-market

Portable electronics

Mobility

Stationary energy storage

Portable electronics

Mobility

Stationary energy storage

Portable electronics

Mobility

Stationary energy storage

Portable electronics

Mobility

Stationary energy storage

Portable electronics

Mobility

Stationary energy storage

Drivers / barriers

CostSupply

chain, Time-to-market

Drivers / barriers

CostSupply

chain, Time-to-market

Drivers / barriers

CostSupply

chain, Time-to-market

Drivers / barriers

CostSupply

chain, Time-to-market

Others

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2015-2025 MARKET DEMAND FOR PRESENT AND FUTURE LI-ION CHALLENGERS

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WHERE IS THE “SWEET SPOT” FOR NEW BATTERY TECHNOLOGIES?

New batterytechnology has toprovide asignificant addedvalue compared toLi-ion to gofurther than justuntil the first fundrising and firstprototypes.

Li-ion

battery

technology’

capabilities

Customer’s

needs

New battery

technology’

offerings

“Sweet spot”

sought by the

developers of new

battery

technologies

Market conditions

Regulation

Geopolitics

Demography

To evaluate a potential of a new

technology two players are

important to consider:

1. Sweet spot size (as of today)

2. Sweet spot size evolution in time

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WHERE ARE THE LIMITATIONS/WEAK POINTS OF LI-ION BATTERIES?

Li-ion batterytechnologies offerthe propertiesthat rather wellsatisfy a largevariety ofapplications.

However, thereare also someweak points.

Li-ion battery weak points

Energy density Cost SafetyLimited cell /cycle life

Power delivery and fast charging

capability

Operating temperature limitations

Geopolitical issues related to lithium sourcing

• Most

applications

require

smaller and

lightweight

batteries

with higher

energy

capacity.

Despite a

strong

decrease of

Li-ion battery

costs in the

last years, the

cost is the

main barrier

for larger Li-

ion battery

deployment.

• Liquid

electrolytes

used in Li-ion

batteries are

flammable

• Thermal

runaway issues.

• Lithium

dendrite

formation

• Lithium is very

reactive in air.

• It is difficult

to reach

high energy

density and

high cycle

life

• Lithium

dendrite

formation

is one of

the origins

of

shortened

cell life.

• “High

power” cells

are different

from “high

energy“ cells.

• A cell with

both high

power and

energy

density is

desired.

• Battery life

decreases

with

increasing

temperature

Although today

not considered

as a big thread,

the dependence

on a few sites

with high

lithium

abundancy and

low-cost of

extraction for

lithium salts

may become an

issue in the

future

©2016 | www.yole.fr | Beyond Li-ion Battery: Present and Future Li-ion Technology Challengers - SAMPLE

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MAIN PLAYERS FOR LI-ION BATTERY CHALLENGERS

Higher energy density

Higher energydensityprovides anadded value forall applications.

Electric mobility

Solution to driving

range anxiety

More space in the

car, lightweight

vehicle

Stationary

storage

Larger storage

capacity

Smaller/lightweight

battery systems

Portable

electronics

Larger device power

autonomy

Smaller/lightweight

battery systems

Thin/flexible systemsBattery thickness and size strongly impact the size and design of

the final device

Battery size and weight strongly impact the energy consumption

and space available in the car

Although less critical for large BESS systems, the size and weight of battery

is important in storage system logistics, and for battery systems in buildings

©2016 | www.yole.fr | Beyond Li-ion Battery: Present and Future Li-ion Technology Challengers - SAMPLE

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EXAMPLES OF LI-ION BATTERY INCIDENTS

Photos of the burned auxiliary power unit battery manufactured by GS Yuasa from a JAL Boeing 787

that caught fire on Jan. 7 at Boston's Logan International Airport

A cell phone after a battery explosion

A Dell laptop explosion caught on video during conference in Osaka in 2006. This prompted the 2006 Sony battery recall.

A BYD EV citycab after the battery caught fire

As a result of a crash-tested Chevrolet Volt that caught fire in June 2011 three weeks

after the testing

A Tesla S after a collision with un undetermined object triggered a fire in one of the battery module in 2013. This event resulted in the Tesla

stock price losses of $2.2 billion in two days following the accident.

LIB-powered emergency beacon caught fire on a Boeing 787 Dreamliner plane in July 2013 at Heathrow airport

Tesla Model S 90 D has burned completely during the test drive

in Biarritz, France in 2016

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Commercialization

Lab-scale cells

Sub-cell

TIME-TO-MARKET FACTORS FOR NEW TECHNOLOGIES

It takes about 13 to more than 26 years from new material synthesis to commercial battery applications.

Time

Material

New class of

materials

synthetized

Accelerated scenario (~13 years)

Normal scenario (about ~26 years)

Proven

performance on

sub-cell

Proven

performance

lab-scale cell

Material and cell production scale-

up, cell qualification for different

applications, scale-up battery pack

4 years 5 years 7 years 10 years

2 years 3 years 3 years 5 years

Time-to-market for a new battery technology according to Yole’s estimates. Yole Développement

“Shortcut” players: compatibility with existing material/cell manufacturing equipment, compatibility with high-volume applications, a large number of players involved, huge R&D funding, etc.

Proof of large-volume

manufacturability

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SOLID-STATE BATTERY: BULK BATTERY VS. MICROBATTERY

Solid-state electrolyte is a proven technology option for microbattery, but yet too costly for bulk batteries.

Thin-film solid-state batteries Bulk solid-state batteries

0.001 Ah

$10

1 Ah – 70 Ah

$ 10,000 – 700,000 (extrapolated)

New materials

New mfg. process

New cell designs

needed !

Technology approach proven in microbattery is not directly applicable for bulk batteries

Yole Développement

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19

Industrial players

FLOW BATTERY PLAYERS AND THEIR RELATIONSHIPS – OVERVIEW

R&D institutes Material

development/supplyCell development System integratorBattery integrator

Flow battery players (non-exhaustive list)

Yole Développement

EnSync Energy Systems was formerly known as ZBB Energy Corporation

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20

LI-ION CAPACITOR AS A PRIMARY AND SECONDARY POWER SOURCE

Li-ion capacitors can be used in two ways – as a primary and secondary power sources.

• Use as a low-energy power source with

ability to cover efficiently short periods of an

increased power demand

• Applications:• Solar lighting

• UPS

• Smart-meter power supply

• Security sensors

• Surveillance cameras

• Use in hybrid systems with Li-ion batteries

• LIC delivers the peak power, thus reducing

the peak current from the battery and

extending battery life and reducing battery

size and cost.

• Applications: • Grid-scale and industrial stationary battery

systems (Energy back-up)

Primary power source Secondary power source

Time Time

Power

demandPower

demand

Li-ion battery

Li-ion capacitor

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MAIN CHALLENGES FOR LITHIUM-AIR BATTERIES

Despite several years of research on lithium-air technology, the strong challenges remain.

• O2 must be separated from H2O and CO2

• xxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxx

• Challenges associated withxxxxxxxxxxxxxxxxxxxxxxxxxxxxx

• Stability of lithium metal anode and resulting capacityfade (short cycle life)

• Xxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxx

• xxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxx

• xxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxx

• xxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxx

• xxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxx

Poro

us-

carb

on c

athode

O2

H2O

CO2

Membrane

The need of a membrane/filtration system is a cost

and technology challenge for lithium-air technology,

but also an opportunity for manufacturers of

separators/filtration systems (Asahi Kasei, Johnson

Matthey…)

Li-

air

High energy density

small-size battery

Li-

air

Additional cost, weight

and volume and system

complexity, more

potential failure points

Filtration

membrane,

air pump,

etc.

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Appendix: Company Profiles

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23

FARADION (UK)

Faradion, Ltd.Developer of low-cost, non-aqueous sodium-ion (Na-ion) rechargeable batteries for residential

stationary energy storage and for electric mobility applications

Founded 2010 Location Sheffield, UK Web site www.faradion.co.uk

Company type Privately held2015

Revenues

No revenues yet

(R&D stage)Employees 14

Energy storage Sodium-ion

Cell chemistry

• Sodium-ion (main focus of

company’s R&D)

• LiFePO4

Cell format

Pouch cell

(R&D)

Cylindrical cell

planned

Product

R&D stage;

can supply

prototype cells

Applications

and key

customers

• Stationary energy storage (Gen1) and later e-mobility (Gen2)

Highlights

• xxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxx

• xxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxx

• In 2016, Faradion has partnered with AGM Batteries (UK) to develop the technology for electric vehicles,

delivering a working prototype for electric vehicles by 2018.

• Faradion established its own prototype sodium-ion cell manufacturing line.

• Faradion has also developed low-cost methods for the synthesis of LiFePO4 and other active materials.

Faradion’s pouch cell and its structure

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Founded in 1998, Yole Développement has grown to become a group of companies providing marketing, technology and strategy consulting, media in addition to corporate finance services. With a strong focus on emerging applications using silicon and/or micro manufacturing (technology or process), Yole Développement group has expanded to include more than 50 associates worldwide covering MEMS, Compound Semiconductors, LED, Image Sensors, Optoelectronics, Microfluidics & Medical, Photovoltaics, Advanced Packaging, Manufacturing, Nanomaterials and Power Electronics. The group supports industrial companies, investors and R&D organizations worldwide to help them understand markets and follow technology trends to develop their business.

MEDIA & EVENTS• i-Micronews.com, online disruptive technologies website• @Micronews, weekly e-newsletter• Communication & webcasts services• Events: Yole Seminars, Market Briefings…More information on www.i-micronews.com

CONTACTSFor more information about :• Consulting Services: Jean-Christophe Eloy ([email protected])• Financial Services: Jean-Christophe Eloy ([email protected])• Report Business: Fayçal Khamassi ([email protected])• Press relations: Sandrine Leroy ([email protected])

CONSULTING• Market data & research, marketing analysis• Technology analysis• Reverse engineering & costing services• Strategy consulting• Patent analysisMore information on www.yole.fr

REPORTS• Collection of technology & market reports• Manufacturing cost simulation tools• Component reverse engineering & costing

analysis• Patent investigationMore information on www.i-micronews.com/reports

FINANCIAL SERVICES• Mergers & Acquisitions• Due diligence• FundraisingMore information on Jean-Christophe Eloy ([email protected])

Page 26: Beyond Li-ion Batteries: Present and Future Li-ion Technology Challengers 2016 Report by Yole Developpement

Definitions: “Acceptance”: Action by which the Buyer accepts the terms and conditions of sale in their entirety. It is done by signing the purchase order which mentions “I hereby accept Yole’s Terms and Conditions of Sale”.

“Buyer”: Any business user (i.e. any person acting in the course of its business activities, for its business needs) entering into the following general conditions to the exclusion of consumers acting in their personal interests.

“Contracting Parties” or “Parties”: The Seller on the one hand and the Buyer on the other hand.

“Intellectual Property Rights” (“IPR”) means any rights held by the Seller in its Products, including any patents, trademarks, registered models, designs, copyrights, inventions, commercial secrets and know-how, technical information, company or trading names and any other intellectual property rights or similar in any part of the world, notwithstanding the fact that they have been registered or not and including any pending registration of one of the above mentioned rights.

“License”: For the reports and databases, 3 different licenses are proposed. The buyer has to choose one license:• One user license: one person at the company can use the report.• Multi-user license: the report can be used by unlimited users

within the company. Subsidiaries and Joint-Ventures are not included.

• Corporate license: purchased under “Annual Subscription” program, the report can be used by unlimited users within the company. Joint-Ventures are not included.

“Products”: Depending on the purchase order, reports or database on MEMS, CSC, Optics/MOEMS, Nano, bio… to be bought either on a unit basis or as an annual subscription. (i.e. subscription for a period of 12 calendar months). The annual subscription to a package (i.e. a global discount based on the number of reports that the Buyer orders or accesses via the service, a global search service on line on I-micronews and a consulting approach), is defined in the order. Reports are established in PowerPoint and delivered on a PDF format and the database may include Excel files.

“Seller”: Based in Lyon (France headquarters), Yole Développement is a market research and business development consultancy company, facilitating market access for advanced technology industrial projects. With more than 20 market analysts, Yole works worldwide with the key industrial companies, R&D institutes and investors to help them understand the markets and technology trends.

1. SCOPE 1.1 The Contracting Parties undertake to observe the following

general conditions when agreed by the Buyer and the Seller. ANY ADDITIONAL, DIFFERENT, OR CONFLICTING TERMS AND CONDITIONS IN ANY OTHER DOCUMENTS ISSUED BY THE BUYER AT ANY TIME ARE HEREBY OBJECTED TO BY THE SELLER, SHALL BE WHOLLY INAPPLICABLE TO ANY SALE MADE HEREUNDER AND SHALL NOT BE BINDING IN ANY WAY ON THE SELLER.

1.2 This agreement becomes valid and enforceable between the Contracting Parties after clear and non-equivocal consent by any duly authorized person representing the Buyer. For these purposes, the Buyer accepts these conditions of sales when signing the purchase order which mentions “I hereby accept Yole’s Terms and Conditions of Sale”. This results in acceptance by the Buyer.

1.3 Orders are deemed to be accepted only upon written acceptance and confirmation by the Seller, within [7 days] from the date of order, to be sent either by email or to the Buyer’s address. In the absence of any confirmation in writing, orders shall be deemed to have been accepted.

2. MAILING OF THE PRODUCTS 2.1 Products are sent by email to the Buyer:

• within [1] month from the order for Products already released; or • within a reasonable time for Products ordered prior to their effective release. In this case, the Seller shall use its best endeavours to inform the Buyer of an indicative release date and the evolution of the work in progress.

2.2 Some weeks prior to the release date the Seller can propose a pre-release discount to the Buyer The Seller shall by no means be responsible for any delay in respect of article 2.2 above, and including incases where a new event or access to new contradictory information would require for the analyst extra time to compute or compare the data in order to enable the Seller to deliver a high quality Products.

2.3 The mailing of the Product will occur only upon payment by the Buyer, in accordance with the conditions contained in article 3.

2.4. The mailing is operated through electronic means either by email via the sales department or automatically online via an email/password. If the Product’s electronic delivery format is defective, the Seller undertakes to replace it at no charge to the Buyer provided that it is informed of the defective formatting within 90 days from the date of the original download or receipt of the Product.

2.5 The person receiving the Products on behalf of the Buyer shall immediately verify the quality of the Products and their conformity to the order. Any claim for apparent defects or for non-conformity shall be sent in writing to the Seller within 8 days of receipt of the Products. For this purpose, the Buyer agrees to produce sufficient evidence of such defects. .

2.6 No return of Products shall be accepted without prior information to the Seller, even in case of delayed delivery. Any Product returned to the Seller without providing prior information to the Seller as required under article 2.5 shall remain at the Buyer’s risk.

3. PRICE, INVOICING AND PAYMENT 3.1 Prices are given in the orders corresponding to each Product

sold on a unit basis or corresponding to annual subscriptions. They are expressed to be inclusive of all taxes. The prices may be reevaluated from time to time. The effective price is deemed to be the one applicable at the time of the order.

3.2 Yole may offer a pre release discount for the companies willing to acquire in the future the specific report and agreeing on the fact that the report may be release later than the anticipated release date. In exchange to this uncertainty, the company will get a discount that can vary from 15% to 10%.

3.3 Payments due by the Buyer shall be sent by cheque payable to Yole Développement, credit card or by electronic transfer to the following account: HSBC, 1 place de la Bourse 69002 Lyon France Bank code: 30056 Branch code: 00170 Account n°: 0170 200 1565 87BIC or SWIFT code: CCFRFRPP IBAN: FR76 3005 6001 7001 7020 0156 587

To ensure the payments, the Seller reserves the right to request down payments from the Buyer. In this case, the need of down payments will be mentioned on the order. 3.4 Payment is due by the Buyer to the Seller within 30 days

from invoice date, except in the case of a particular written agreement. If the Buyer fails to pay within this time and fails to contact the Seller, the latter shall be entitled to invoice interest in arrears based on the annual rate Refi of the «BCE» + 7 points, in accordance with article L. 441-6 of the French Commercial Code. Our publications (report, database, tool...) are delivered only after reception of the payment.

3.5 In the event of termination of the contract, or of misconduct, during the contract, the Seller will have the right to invoice at the stage in progress, and to take legal action for damages.

4. LIABILITIES 4.1 The Buyer or any other individual or legal person acting on

its behalf, being a business user buying the Products for its business activities, shall be solely responsible for choosing the Products and for the use and interpretations he makes of the documents it purchases, of the results he obtains, and of the advice and acts it deduces thereof.

4.2 The Seller shall only be liable for (i) direct and (ii) foreseeable pecuniary loss, caused by the Products or arising from a material breach of this agreement

4.3 In no event shall the Seller be liable for: a) damages of any kind, including without limitation, incidental or consequential damages (including, but not limited to, damages for loss of profits, business interruption and loss of programs or information) arising out of the use of or inability to use the Seller’s website or the Products, or any information provided on the website, or in the Products; b) any claim attributable to errors, omissions or other inaccuracies in the Product or interpretations thereof.

4.4 All the information contained in the Products has been obtained from sources believed to be reliable. The Seller does not warrant the accuracy, completeness adequacy or reliability of such information, which cannot be guaranteed to be free from errors.

4.5 All the Products that the Seller sells may, upon prior notice to the Buyer from time to time be modified by or substituted with similar Products meeting the needs of the Buyer. This modification shall not lead to the liability of the Seller, provided that the Seller ensures the substituted Product is similar to the Product initially ordered.

4.6 In the case where, after inspection, it is acknowledged that the Products contain defects, the Seller undertakes to replace the defective products as far as the supplies allow and without indemnities or compensation of any kind for labor costs, delays, loss caused or any other reason. The replacement is guaranteed for a maximum of two months starting from the delivery date. Any replacement is excluded for any event as set out in article 5 below.

4.7 The deadlines that the Seller is asked to state for the mailing of the Products are given for information only and are not guaranteed. If such deadlines are not met, it shall not lead to any damages or cancellation of the orders, except for non acceptable delays exceeding [4] months from the stated deadline, without information from the Seller. In such case only, the Buyer shall be entitled to ask for a reimbursement of its first down payment to the exclusion of any further damages.

4.8 The Seller does not make any warranties, express or implied, including, without limitation, those of sale ability and fitness for a particular purpose, with respect to the Products. Although the Seller shall take reasonable steps to screen Products for infection of viruses, worms, Trojan horses or other codes containing contaminating or destructive properties before making the Products available, the Seller cannot guarantee that any Product will be free from infection.

5. FORCE MAJEURE The Seller shall not be liable for any delay in performance directly or indirectly caused by or resulting from acts of nature, fire, flood, accident, riot, war, government intervention, embargoes, strikes, labor difficulties, equipment failure, late deliveries by suppliers or other difficulties which are beyond the control, and not the fault of the Seller.

6. PROTECTION OF THE SELLER’S IPR 6.1 All the IPR attached to the Products are and remain the

property of the Seller and are protected under French and international copyright law and conventions.

6.2 The Buyer agreed not to disclose, copy, reproduce, redistribute, resell or publish the Product, or any part of it to any other party other than employees of its company. The Buyer shall have the right to use the Products solely for its own internal information purposes. In particular, the Buyer shall therefore not use the Product for purposes such as: • Information storage and retrieval systems; • Recordings and re-transmittals over any network (including

any local area network); • Use in any timesharing, service bureau, bulletin board or

similar arrangement or public display; • Posting any Product to any other online service (including

bulletin boards or the Internet);• Licensing, leasing, selling, offering for sale or assigning the

Product. 6.3 The Buyer shall be solely responsible towards the Seller of

all infringements of this obligation, whether this infringement comes from its employees or any person to whom the Buyer has sent the Products and shall personally take care of any related proceedings, and the Buyer shall bear related financial consequences in their entirety.

6.4 The Buyer shall define within its company point of contact for the needs of the contract. This person will be the recipient of each new report in PDF format. This person shall also be responsible for respect of the copyrights and will guaranty that the Products are not disseminated out of the company.

6.5 In the context of annual subscriptions, the person of contact shall decide who within the Buyer, shall be entitled to access on line the reports on I-micronews.com. In this respect, the Seller will give the Buyer a maximum of 10 password, unless the multiple sites organization of the Buyer requires more passwords. The Seller reserves the right to check from time to time the correct use of this password.

6.6 In the case of a multisite, multi license, only the employee of the buyer can access the report or the employee of the companies in which the buyer have 100% shares. As a matter of fact the investor of a company, the joint venture done with a third party etc..cannot access the report and should pay a full license price.

7. TERMINATION 7.1 If the Buyer cancels the order in whole or in part or postpones

the date of mailing, the Buyer shall indemnify the Seller for the entire costs that have been incurred as at the date of notification by the Buyer of such delay or cancellation. This may also apply for any other direct or indirect consequential loss that may be borne by the Seller, following this decision.

7.2 In the event of breach by one Party under these conditions or the order, the non-breaching Party may send a notification to the other by recorded delivery letter upon which, after a period of thirty (30) days without solving the problem, the non-breaching Party shall be entitled to terminate all the pending orders, without being liable for any compensation.

8. MISCELLANEOUS All the provisions of these Terms and Conditions are for the benefit of the Seller itself, but also for its licensors, employees and agents. Each of them is entitled to assert and enforce those provisions against the Buyer. Any notices under these Terms and Conditions shall be given in writing. They shall be effective upon receipt by the other Party. The Seller may, from time to time, update these Terms and Conditions and the Buyer, is deemed to have accepted the latest version of these terms and conditions, provided they have been communicated to him in due time.

9. GOVERNING LAW AND JURISDICTION 9.1 Any dispute arising out or linked to these Terms and

Conditions or to any contract (orders) entered into in application of these Terms and Conditions shall be settled by the French Commercial Courts of Lyon, which shall have exclusive jurisdiction upon such issues.

9.2 French law shall govern the relation between the Buyer and the Seller, in accordance with these Terms and Conditions.

TERMS AND CONDITIONS OF SALES

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Yole Développement

From Technologies to Market

Page 28: Beyond Li-ion Batteries: Present and Future Li-ion Technology Challengers 2016 Report by Yole Developpement

26©2016 | www.yole.fr | About Yole Développement

MEMS &

Sensors

LED

Compound

Semi.

Imaging Photonics

MedTech

Manufacturing

Advanced Packaging

Batteries / Energy

Management

Power

Electronics

FIELDS OF EXPERTISE

Yole Développement’s 30 analysts operate in the following areas

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27

4 BUSINESS MODELS

o Consulting and Analysis

• Market data & research, marketing analysis

• Technology analysis

• Strategy consulting

• Reverse engineering & costing

• Patent analysis

www.yole.fr

o Reports

• Market & Technology reports

• Patent Investigation and patent infringement risk analysis

• Teardowns & Reverse Costing Analysis

• Cost Simulation Tool

www.i-Micronews.com/reports

o Financial services

• M&A (buying and selling)

• Due diligence

• Fundraising

• Maturation of companies

• IP portfolio management & optimization

www.yolefinance.com

www.bmorpho.com

o Media

• i-Micronews.com website

• @Micronews e-newsletter

• Communication & webcast services

• Events

www.i-Micronews.com

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A GROUP OF COMPANIES

Market,

technology and

strategy

consulting

www.yole.fr

M&A operations

Due diligences

www.yolefinance.com

Fundraising

Maturation of companies

IP portfolio management & optimization

www.bmorpho.com

Manufacturing costs analysis

Teardown and reverse engineering

Cost simulation tools

www.systemplus.fr

IP analysis

Patent assessment

www.knowmade.fr

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OUR GLOBAL ACTIVITY

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SERVING THE ENTIRE SUPPLY CHAIN

Our analystsprovide marketanalysis,technologyevaluation, andbusiness planalong theentire supplychain

Integrators and

end-users

Device

makers

Suppliers: material,

equipment, OSAT,

foundries…

Financial investors,

R&D centers

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CONTACT INFORMATION

Follow us on

• Consulting and Specific Analysis

• North America: Steve LaFerriere, Director of Northern America Business DevelopmentEmail: [email protected]

• Asia: Takashi Onozawa, Representative Director, Yole KK.Email: [email protected]

• RoW: Jean-Christophe Eloy, CEO & President, Yole DéveloppementEmail [email protected]

• Report business

• North America: Steve LaFerriere, Director of Northern America Business DevelopmentEmail: [email protected]

• Europe: Lizzie Levenez, EMEA Business Development ManagerEmail: [email protected]

• Japan & Asia: Takashi Onozawa, Representative Director, Yole KK.Email: [email protected]

• Taiwan: Mavis Wang, Business Development DirectorEmail: [email protected]

• Financial services

• Jean-Christophe Eloy, CEO & PresidentEmail: [email protected]

• General

• Email: [email protected]