Lithium Startups Bet on High Demand in Battery-Powered Future
Despite oversupply today, novel lithium extraction techniques will be key to the energy transition even as companies struggle with cost competitiveness.
A worker holds lithium hydroxide. The material will be key to the energy transition, and a number of startups are working on new techniques to produce it.
Photographer: Cristobal Olivares/BloombergAs the world leans into electrification, it will need more lithium. A key ingredient in the batteries that power everything from electric vehicles to cell phones, demand is projected to accelerate over the next decade.
To meet it, a new crop of startups are working on novel ways of producing the valuable metal and promising to open untapped lithium sources. They’re also battling heavy economic headwinds, pushing their technology forward amid a current market slump.