Climate targets require batteries so that raw materials

According to the International Energy Agency, the batteries required for energy storage will have to increase six-fold if the climate targets set for 2030 are to become a reality. The IEA’s special report on batteries and the transformation of the energy sector makes it clear that the growth in battery storage will continue. Demand is enormous and rising. Renewable energies are important, but energy storage is just as important. According to the special report, batteries are essential for powering electric vehicles and thus for the decarbonization of road transport. Over 90 percent of lithium-ion batteries are currently used in the transport and energy sector.

Incidentally, the cost of batteries has fallen by more than 90 percent in the last 15 years – an enormous development. While around three million electric vehicles were sold in 2020, this figure had risen to almost 14 million by 2023. Batteries are the basis not only for the electrification of transportation, but also for energy production and storage in households and businesses. According to IEA estimates, the total energy storage capacity on earth will increase six-fold by 2030. At the same time, renewable energies must be tripled by 2030. This will require 1,500 GW of energy storage. This goes hand in hand with a further reduction in costs as well as advancing quality and technology.

This is the only way to successfully move away from fossil fuels. Even if most batteries are still manufactured in China today, the USA and the EU can catch up in terms of battery production. Companies such as Targa Exploration and Century Lithium are working to ensure that this development succeeds.

Targa Exploration’s – https://www.commodity-tv.com/ondemand/companies/profil/targa-exploration-corp/ – lithium project portfolio consists of projects in the provinces of Quebec, Ontario, Manitoba and Saskatchewan and covers over 412,000 hectares of prospective ground.

Century Lithium – https://www.commodity-tv.com/ondemand/companies/profil/century-lithium-corp/ – has the promising Clayton Valley lithium project in Nevada. The feasibility study (NI 43-101) for this project was very positive.

Current company information and press releases from Century Lithium (- https://www.resource-capital.ch/en/companies/century-lithium-corp/ -)

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