Boston, Mass. A new analytic tool from Lux Research will help materials suppliers and OEMs as well as startup companies and investors evaluate advanced battery technologies for electric vehicles, the power grid and other applications.
Targeting an energy storage market that will grow to $60 billion by 2013, the Lux Innovation Grid evaluates companies and their new technologies based on a number of criteria including technical value, business execution and maturity. The report, Ranking Battery Companies on the Lux Innovation Grid, is based on more than 200 primary interviews and site visits, as well as the company’s independent evaluation and insight into these technology markets, according to Lux.
One key finding indicates that there are many players developing Li-ion batteries for next-generation electric vehicle applications but only two — Johnson Controls-Saft and Compact Power — stand out as leaders. Some companies like Kokam America show promise but remain too immature to be considered sure winners, said Lux.
In utility applications, Lux said NGK Insulators and A123Systems are the battery developers to beat. Their competitors can gain ground by demonstrating progress in scale-up and better business execution, according to the report.
“The battery space is no longer defined solely by established companies coming out with new products,” said Ying Wu, senior analyst at Lux Research, in a statement. “However, the immense number of new startups and emerging markets in transportation and the power grid makes it difficult to distinguish which companies will be the winners — a tool like the Lux Innovation Grid is an indispensable guide to making better decisions.”
Wu said battery companies have raised more than $600 million in venture capital this year, which is a huge increase over $478 million invested in 2008.