Why Repurposing EV Batteries?
IBS aims at providing Second Life Batteries (SLB) retired from EV for repurposed applications such as stationary energy storage systems (ESSs).
A Huge Concern for the Society.
High cost is a major obstacle to the commercialization of LIBs. Although previous market forecasts have shown that the price of LIBs will drop at a rate of about $10 per kWh per year, and will drop to $100 per kWh around 2025, the price of LIBs did not fall but rise since 2021. Reducing the cost of LIBs will bring huge business opportunities.
In recent years, due to the rapid growth of EVs, the retired batteries will simultaneously become another huge concern for the society. Since retired batteries generally have 70-80% remaining capacity, repurposing the cells in these batteries and installing them in stationary systems (such as backup power systems and small ESSs) can solve both issues at the same time.
IBS Has a Solution.
IBS sees the SLB market to be greatly profitable in the coming decades and plans to be an early player in this area. After IBS' online battery management service has gained a foothold in the North American market, the next step will be to establish a battery repurposing center in BC, expectedly by the end of 2023. This facility is going to be one of the most pioneering ones in North America. To access the supplies of retired EV batteries, IBS plans to cooperate with 1-3 mainstream EV manufacturers in North America. Several types of retired EV batteries will be tested, repurposed and re-supplied to ESS manufacturers as highly competitive SLB cells.
In terms of ensuring the safety of SLB cells re-supplied to make ESSs, IBS is competitive in both key areas: battery repurposing and post-installation O&M. For battery repurposing, IBS' battery repurposing technique and instrument exam the battery health and remaining useful life to screen out the unqualified cells. The good cells are then rebalanced to maximize their capacity to be used in modules. Compared with conventional methods, IBS' battery repurposing technology is five times more efficient, and it has already been re-confirmed by National Research Council Canada. IBS is currently preparing to get UL1974 certification.
After installation, IBS will provide these ESS manufacturers with the same service using BatteryMAP to ensure the safety of these ESSs made from SLBs during operation. At present, the NMC-based LIBs used by the vast majority of electric vehicles has a high safety risk. The all-weather monitoring and health management of BatteryMAP is particularly important. This solution crosses the cost barrier of LIBs while ensuring their safe operation. Figure 6 is a full diagram showing IBS' battery repurposing and service processes.