Promotional image for the 2024 LG Energy Solution Battery Challenge.
From recycling EV batteries to boosting battery performance, the 2024 LG Energy Solution Battery Challenge previews an exciting future for battery technology.
In partnership between New Energy Nexus and LG Energy Solution, the project attracted 141 companies worldwide, with 19 advancing to the interview stage. This year’s winners—Evyon and Iontra—each stood out with breakthrough products that could reshape the clean energy space. The winners are set to receive cash prizes and embark on pilot projects in collaboration with LG Energy Solution.
Evyon: Unlocking the potential of second-life batteries
The team at Evyon. Photo from Evyon
Founded in 2020, Evyon transforms spent EV batteries into high-value, modular and safe energy storage systems. Their proprietary hardware and Battery Cloud ecosystem repurpose EV battery modules into certified modular storage solutions for renewable energy applications.
Since being founded in Oslo in 2020, Evyon has delivered almost 1000 second-life battery modules across six countries, providing close to 10 MWh of energy storage across 25 projects, preventing 50 tonnes of battery waste, and avoiding 1000 tonnes of CO₂ emissions compared to using new battery cells.
Potential impact
- CO2 Reduction: Reusing EV batteries cuts lifecycle emissions by up to 85%.
- Waste Minimization: Repurposing prevents batteries from becoming waste, supporting a circular economy.
- Energy Transition: Provides affordable, reliable energy storage, accelerating the shift to renewable energy.
Why they won
Their innovative approach to battery repurposing opens opportunities for collaboration with LG Energy Solution. Their pilot project focuses on scaling modular energy storage systems across Europe, with long-term ambitions to expand globally.
Photo from Evyon
Iontra: Revolutionizing battery charging technology
Based in Colorado, USA, Iontra has developed a pioneering charging technology that enhances lithium-ion battery performance, safety, and lifespan. Utilizing electrodynamic principles, their patented charge control technology reduces degradation and maximizes efficiency, resulting in faster charging, longer battery life, and healthier batteries.
Potential impact
- Battery Efficiency: Iontra’s technology can double, and in some cases triple, the lifespan of batteries.
- 2nd and 3rd Use: By keeping batteries healthy, Iontra enables batteries to be more easily qualified and used for 2nd and 3rd life applications
- Environmental Benefits: Fewer battery replacements and reduced material demand lower CO2 emissions and waste.
- Market Transformation: Applications range from consumer electronics to electric vehicles, addressing challenges like cold-weather performance and battery lifecycle management.
Why they won
Iontra’s persistence and innovation paid off in the application process to the LG Energy Solution Battery Challenge. Iontra refined and customized their advanced charging technology to present a solution that secured the winner’s spot. This collaboration with LG Energy Solution opens avenues for deeper integration of Iontra’s various solutions into LG’s manufacturing and product ecosystems.
Photo from Iontra
The partnership behind the Battery Challenge
The 2024 Challenge marked the fourth time New Energy Nexus has partnered with LG Energy Solution to host this challenge.
Leveraging our global network of clean energy startups, we have scouted and recruited over 600 enterprises worldwide for the Challenge since its inception. By fostering industry connections and curating a platform for impactful discussions, NEX has empowered over 40 companies—which will now include Evyon and Iontra—to access invaluable investment opportunities through the Challenge.
Moving forward, this collaboration between NEX and LG Energy Solution will continue to advance clean energy innovation across the world, showcase amazing battery technologies globally, and drive a sustainable future through a steady stream of brilliant solutions.