Faradion Ltd., world leader in sodium-ion battery
technology, has announced its first order from ICM Australia. Sodium-ion
batteries, owing to its exceptional superiority over lithium-ion batteries, are likely to revolutionise the automobile/mobility,
storage and mobile sectors across the world.
Faradion’s sodium-ion technology provides
similar performance to conventional chemistries, while replacing expensive
materials such as cobalt and lithium with the far more abundant sodium. Unlike
lithium-ion batteries, Faradion’s sodium-ion batteries have exceptional thermal
stability and safety. Further they can be safely transported and maintained at
India is one of the largest markets for
mobile devices across the world. Recently the country has also demonstrated
significant progress in the adoption of EV (Electric Vehicle) technology,
making it a priority market for Faradion. Further, as the world seeks out
alternatives to China-dependent Lithium-ion batteries, Faradion’s Sodium-ion
based technology offers a promising solution. In line with this, Faradion is
actively exploring manufacturing presence in India for its Sodium-ion batteries
for diversified applications.
Having seen significant interest in regions
such as the US, Europe and India due to its performance, safety and price
point, James Quinn, CEO, Faradion says Australasia is the next logical region
for Faradion given the market conditions.
“Faradion is accelerating large scale
industrialisation of its safe, low cost, Sodium-ion energy storage technology,”
“After Australia, we foresee India as our
next priority big market, given the huge growth in mobile devices and a bigger
electric mobility market waiting to grow rapidly” Quinn concluded.
In recent years, Australia and New Zealand
have demonstrated a steady uptake in battery storage in residential, commercial
and grid scale applications due to factors including significant reductions in
the cost of storage and solar systems; increasing cost of electricity, concerns
about blackouts and financial incentives and policies from the government.
Speaking about this order from ICM
Australia, Thomas Gregson, Investment Director, ICM Australia said,
“This order represents a first step
for an Australian company to commercialise world leading sodium-ion technology,
and we’re pleased to be offering a premium product that is safe and price
competitive to the Australasian market.”
“We have seen large interest in energy
storage solutions recently and believe the Faradion technology can provide, in
a sustainable way, the energy security customers require at attractive ROIs,”