New On-Shoring Battery Initiative Poised to Help Growing Need for Battery Storage
While the market for electric vehicles continues to grow, and while the market for other battery storage configurations, grows, such as microgrids and utility-scale solar+storage, there are some challenges. One of the most significant is finding enough batteries to install in these new configurations, whether large or small. However, significant progress was recently made in this area.
In early May, QAD, a provider of manufacturing and supply chain solutions in the cloud, announced that the president of the Korean Institute for Advancement of Technology (KIAT), the vice president of the Korean Battery Industry Association (KBIA), the president of the Korean Electronics Technology Institute (KETI), and the executive director of NAATBatt International signed a Memorandum of Understanding (MoU) to facilitate the onshoring of Korean battery manufacturers in the United States. NAATBatt is a not-for-profit trade association composed of companies, associations, and research institutions involved with commercializing advanced electrochemical energy storage technology for high-tech applications. Members include a number of large U.S. corporations, including several large U.S. electric utilities.
According to the participants, this MoU, which was signed in Washington, D.C., is a critical step in furthering efforts to bring battery manufacturing to the United States. “Korean companies today are world leading experts within manufacturing of lithium based batteries,” said James Greenberger, founder and executive director of NAATBatt. “If we want to build a vibrant North American supply chain for lithium-based batteries as quickly as possible, we need to use the best available manufacturing technology to achieve this. Today, this technology is largely with Korean companies. Hence, we should integrate these Korean experts and companies to be part of that supply chain and the North American business community.”
NAATBatt’s Onshoring Committee, which focuses on connecting foreign battery industry associations and supporting their members in establishing business relationships with NAATBatt members and providing access to NAATBatt’s valuable resources, is playing a key role, focusing on ensuring the integration and valuable sharing of knowledge. The committee is headed by co-chairmen from KTON, a U.S. advisory firm specializing in onshoring technology and ventures from Asia by connecting U.S. companies with Asian companies.
“NAATBatt plays a critical role in helping to ensure the U.S. develops a leadership position in a critical industry that will drive our future energy independence and transportation industry,” said Carter Lloyds, chief product and marketing officer for QAD. “Beyond economic prosperity, ensuring a robust domestic supply chain for batteries increases resilience and supports national security. We are proud to partner with them on this initiative.”