The Battery Series: The Future of Battery Technology
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The Future of Battery Technology

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The Battery Series
Part 5: The Future of Battery Technology

The Battery Series is a five-part infographic series that explores what investors need to know about modern battery technology, including raw material supply, demand, and future applications.

Presented by: Nevada Energy Metals, eCobalt Solutions Inc., and Great Lakes Graphite

The Battery Series - Part 1The Battery Series - Part 2The Battery Series - Part 3The Battery Series - Part 4The Battery Series - Part 5

The Battery Series: The Future of Battery Technology

The Battery Series - Part 1The Battery Series - Part 2The Battery Series - Part 3The Battery Series - Part 4The Battery Series - Part 5

The Future of Battery Technology

This is the last installment of the Battery Series. For a recap of what has been covered so far, see the evolution of battery technology, the energy problem in context, the reasons behind the surge in lithium-ion demand, and the critical materials needed to make lithium-ion batteries.

There’s no doubt that the lithium-ion battery has been an important catalyst for the green revolution, but there is still much work to be done for a full switch to renewable energy.

Sponsors
Nevada Energy Metals
eCobalt Solutions Inc.
Great Lakes Graphite

The battery technology of the future could:

  • Make electric cars a no-brainer choice for any driver.
  • Make grid-scale energy storage solutions cheap and efficient.
  • Make a full switch to renewable energy more feasible.

Right now, scientists see many upcoming battery innovations that have the promise to do this. However, the road to commercialization is long, arduous, and filled with many unexpected obstacles.

The Near-Term: Improving the Li-Ion

For the foreseeable future, the improvement of battery technology relies on modifications being made to already-existing lithium-ion technology. In fact, experts estimate that lithium-ions will continue to increase capacity by 6-7% annually for a number of years.

Here’s what’s driving those advances:

Efficient Manufacturing

Tesla has already made significant advances in battery design and production through its Gigafactory:

  • Better engineering and manufacturing processes.
  • Wider and longer cell design allows more materials packaged into each cell.
  • New battery cooling system allows to fit more cells into battery pack.

Better Cathodes

Most of the recent advances in lithium-ion energy density have come from manipulating the relative quantities of cobalt, aluminum, manganese, and nickel in the cathodes. By 2020, 75% of batteries are expected to contain cobalt in some capacity.

For scientists, its about finding the materials and crystal structures that can store the maximum amount of ions. The next generation of cathodes may be born from lithium-rich layered oxide materials (LLOs) or similar approaches, such as the nickel-rich variety.

Better Anodes

While most lithium-ion progress to date has come from cathode tinkering, the biggest advances might happen in the anode.

Current graphite anodes can only store one lithium atom for every six carbon atoms – but silicon anodes could store 4.4 lithium atoms for every one silicon atom. That’s a theoretical 10x increase in capacity!

However, the problem with this is well-documented. When silicon houses these lithium ions, it ends up bloating in size up to 400%. This volume change can cause irreversible damage to the anode, making the battery unusable.

To get around this, scientists are looking at a few different solutions.

1. Encasing silicon in a graphene “cage” to prevent cracking after expansion.
2. Using silicon nanowires, which can better handle the volume change.
3. Adding silicon in tiny amounts using existing manufacturing processes – Tesla is rumored to already be doing this.

Solid-State Lithium-Ion

Lastly, a final improvement that is being worked on for the lithium-ion battery is to use a solid-state setup, rather than having liquid electrolytes enabling the ion transfer. This design could increase energy density in the future, but it still has some problems to resolve first, such as ions moving too slowing through the solid electrolyte.

The Long-Term: Beyond the Lithium-ion

Here are some new innovations in the pipeline that could help enable the future of battery technology:

Lithium-Air

Anode: Lithium
Cathode: Porous carbon (Oxygen)
Promise: 10x greater energy density than Li-ion
Problems: Air is not pure enough and would need to be filtered. Lithium and oxygen form peroxide films that produce a barrier, ultimately killing storage capacity. Cycle life is only 50 cycles in lab tests.
Variations: Scientists also trying aluminum-air and sodium-air batteries as well.

Lithium-Sulphur

Anode: Lithium
Cathode: Sulphur, Carbon
Promise: Lighter, cheaper, and more powerful than li-ion
Problems: Volume expansion of up to 80%, causing mechanical stress. Unwanted reactions with electrolytes. Poor conductivity and poor stability at higher temperatures.
Variations: Many different variations exist, including using graphite/graphene, and silicon in the chemistry.

Vanadium Flow Batteries

Catholyte: Vanadium
Anolyte: Vanadium
Promise: Using vanadium ions in different oxidation states to store chemical potential energy at scale. Can be expanded simply by using larger electrolyte tanks.
Problems: Poor energy-to-volume ratio. Very heavy; must be used in stationary applications.
Variations: Scientists are experimenting with other flow battery chemistries as well, such as zinc-bromine.

Battery Series: Conclusion

While the future of battery technology is very exciting, for the near and medium terms, scientists are mainly focused on improving the already-commercialized lithium-ion.

What does the battery market look like 15 to 20 years from now? It’s ultimately hard to say. However, it’s likely that some of these new technologies above will help in leading the charge to a 100% renewable future.

Thanks for taking a look at The Battery Series.

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Energy

Ranked: The Largest Oil and Gas Companies in the World

Oil still makes up the largest share of the global energy mix. Here are the largest oil and gas companies by market cap in 2021.

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The Largest Oil & Gas Companies in 2021

This was originally posted on Elements. Sign up to the free mailing list to get beautiful visualizations on natural resource megatrends in your email every week.

The pandemic brought strong headwinds for the oil and gas industry, and oil majors felt the blow.

Global primary energy consumption fell by 4.5% relative to 2019 and oil demand declined by 9%. For a brief period in April 2020, the price of West Texas Intermediate (WTI) crude futures went subzero, marking the largest one-day price plunge since 1983.

Some expected the demand crash to have a lasting impact on the industry, but it’s safe to say that 2021 has proved otherwise.

Oil Resurfaces as Energy Crisis Deepens

The world is facing a shortage of energy, and peak winter is yet to hit most parts of the globe.

Pandemic-induced supply restraints from producers, in addition to rising energy demand from recovering economies, have sent nations scrambling for petroleum products. Consequently, oil prices are resurfacing to pre-pandemic levels.

As of today, prices of WTI crude futures are at their highest levels in the last five years at over $80 per barrel. Furthermore, U.S. natural gas prices hit a 7-year high of $6.5 per million British thermal units (BTU) earlier this month. Elsewhere, European benchmark natural gas futures have surged 1,300% since May 2020.

Of course, the largest oil and gas companies are riding this wave of resurgence. Using data from CompaniesMarketCap.com, the above infographic ranks the top 20 oil and gas companies by market cap as of October 7, 2021.

Big Oil: The Largest Oil and Gas Companies by Market Cap

Given that we often see their logos at gas stations, the largest oil and gas companies are generally quite well-known. Here’s how they stack up by market cap:

RankCompanyMarket Cap* (US$, billions)Country
1Saudi Aramco$1,979Saudi Arabia 🇸🇦
2ExxonMobil$257.30U.S. 🇺🇸
3Chevron$205.29U.S. 🇺🇸
4Shell$175.28Netherlands 🇳🇱
5PetroChina$162.55China 🇨🇳
6TotalEnergies$130.56France 🇫🇷
7Gazprom$121.77Russia 🇷🇺
8ConocoPhillips$95.93U.S. 🇺🇸
9BP$93.97U.K. 🇬🇧
10Rosneft$84.07Russia 🇷🇺
11Equinor$83.60Norway 🇳🇴
12Enbridge$82.82Canada 🇨🇦
13Sinopec$80.48China 🇨🇳
14Novatek$79.18Russia 🇷🇺
15Duke Energy$78.08U.S. 🇺🇸
16Petrobras$69.91Brazil 🇧🇷
17Southern Company$66.64U.S. 🇺🇸
18Lukoil$64.70Russia 🇷🇺
19CNOOC$52.04China 🇨🇳
20Enterprise Products$50.37U.S. 🇺🇸

*As of October 7, 2021.

Saudi Aramco is one of the five companies in the trillion-dollar club as the world’s third-largest company by market cap. Its market cap is nearly equivalent to the combined valuation of the other 19 companies on the list. But what makes this figure even more astounding is the fact that the company went public less than two years ago in December 2019.

However, the oil giant’s valuation doesn’t come out of the blue. Aramco was the world’s most profitable company in 2019, raking in $88 billion in net income. Apple took this title in 2020, but high oil prices could propel Aramco back to the top in 2021.

Although Standard Oil was split up a century ago, its legacy lives on today in the form of Big Oil. ExxonMobil and Chevron—the second and third-largest companies on the list—are direct descendants of Standard Oil. Furthermore, Shell and BP both acquired assets from Standard Oil’s original portfolio on the road to becoming global oil giants.

The geographical distribution of the largest oil and gas companies shows how global the industry is. The top 20 oil and gas companies come from 10 different countries. The U.S. hosts six of them, while four are headquartered in Russia. The other 10 are located in one of China, Brazil, Saudi Arabia, or Europe.

Big Oil, Bigger Emissions

Due to the nature of fossil fuels, the biggest oil and gas companies are also among the biggest greenhouse gas (GHG) emitters.

In fact, Saudi Aramco is the world’s largest corporate GHG emitter and accounts for over 4% of the entire world’s emissions since 1965. Chevron, Gazprom, ExxonMobil, BP, and several other oil giants join Aramco on the list of top 20 GHG emitters between 1965 and 2017.

Shifting towards a low-carbon future will undoubtedly require the world to rely less on fossil fuels. But completely shunning the oil and gas industry isn’t possible at the moment, as shown by the global energy crisis.

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The Top 10 Biggest Companies in Brazil

What drives some of the world’s emerging economies? From natural resources to giant banks, here are the top 10 biggest companies in Brazil.

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The Top 10 Biggest Companies in Brazil Oct 10 Share

The Top 10 Biggest Companies in Brazil

In 2009, the at-the-time emerging economies of Brazil, Russia, India, and China held their first formal summits as members of BRIC (with South Africa joining in 2010).

Together, BRICS represents 26.7% of the world’s land surface and 41.5% of its population. By GDP ranking, they’re also some of the most powerful economies in the world.

But what drives their economies? We’re highlighting the top 10 biggest companies in each country, starting with Brazil.

What Are the Biggest Public Companies in Brazil?

Brazil isn’t just one of the largest and most diverse countries in the world, it is also an economic powerhouse.

With over 213 million people, Brazil is the sixth most populous country on Earth and the largest in Latin America. It’s also the wealthiest on the continent, with the world’s 12th-largest economy.

Once a colony focused on sugar and gold, Brazil rapidly industrialized in the 20th century. Today, it is a top 10 exporter of industrial steel, with the country’s economic strength coming chiefly from natural resources and financials.

Here are Brazil’s biggest public companies by market capitalization in October 2021:

Top 10 Companies (October 2021)CategoryMarket Cap (USD)
ValeMetals and Mining$73.03B
Petróleo BrasileiroOil and Gas$69.84B
AmbevDrinks$43.87B
Itaú UnibancoFinancial$41.65B
Banco BradescoFinancial$34.16B
WEGIndustrial Engineering$29.43B
BTG PactualFinancial$25.01B
Banco Santander BrasilFinancial$24.70B
Rede D’Or Sao LuizHospital$23.79B
XP Inc.Financial$22.45B

At the top of the ranking is Vale, a metals and mining giant that is the world’s largest producer of iron ore and nickel. Also the operator of infrastructure including hydroelectricity plants, railroads, and ports, It consistently ranks as the most valuable company in Latin America.

Vale and second-ranking company Petróleo Brasileiro, Brazil’s largest oil producer, were former state-owned corporations that became privatized in the 1990s.

Finance in Brazil’s Top 10 Biggest Companies

Other than former monopolies, the top 10 biggest companies in Brazil highlight the power of the banking sector.

Five of the 10 companies with a market cap above $20 billion are in the financial industry.

They include Itaú Unibanco, the largest bank in the Southern Hemisphere, and Banco Santander Brasil, the Brazilian subsidiary of Spanish finance corp.

Another well-known subsidiary is brewing company Ambev, which produces the majority of the country’s liquors and also bottles and distributes PepsiCo products in much of Latin America. Ambev is an important piece of Belgian drink juggernaut Anheuser-Busch InBev, which is one of the world’s largest 100 companies.

Noticeably missing from the top 10 list are companies in the agriculture sector, as Brazil is the world’s largest exporter of coffee, soybeans, beef, and ethanol. Many multinational corporations have Brazilian subsidiaries or partners for supply chain access, which has recently put a spotlight on Amazon deforestation.

What other companies or industries do you associate with Brazil?

Correction: Two companies listed had errors in their market cap calculations and have been updated. All data is as of October 11, 2021.

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