Recharge Resources is a Canadian mineral exploration company focused on exploring and developing the production of high-value battery metals to create green, renewable energy to meet the demands of the advancing electric vehicle and fuel cell vehicle market.
Driven by the demand for electric vehicles
Around 90% of battery demand will come from electric vehicles (EVs) over the next two decades. Battery metals are the raw materials used in the production of batteries such as lithium, nickel, cobalt, manganese, and graphite. These battery metals are commonly used in batteries for electric vehicles, consumer electronics, and other applications.
Demand for battery metals is expected to jump 500% by 2050.
On top of this, by 2038, the world will buy more passenger electric vehicles than fossil fuel cars. In 2019, demand from EV batteries was 17 kt for lithium, 14.4 kt for cobalt, and 65 kt for nickel; by 2030, it is expected to jump to 185 kt for lithium, 90 kt for cobalt and 925 kt for nickel within the next 20 years.
The Recharge Resource Advantage
Recharge Resources is uniquely positioned to acquire mining properties to produce numerous battery metals. With high potential exploration projects in three categories of battery metals, including Lithium, Nickel and Cobalt, Recharge Resources is capitalizing on numerous opportunities to enhance the electric vehicle and battery power markets.
Lithium-ion batteries (LIBs) are an advanced battery technology that uses lithium ions as a key component of its electrochemistry. In batteries, lithium ions move from the negative electrode through an electrolyte to the positive electrode during discharge, and back when charging.
LIBs have one of the highest energy densities of any battery technology and are currently the dominant technology for electric vehicles.
Nickel makes up one-third of Nickel Manganese Cobalt (NMC) cathodes and 80% of Nickel Cobalt Aluminum (NCA) cathodes. In battery power nickel helps deliver higher energy density and greater storage capacity at a lower cost. Specifically in EVs, nickel battery power provides a longer driving range for vehicles.
Gold is used in minute quantities in circuit boards for electric vehicles. Although more costly than its counterparts, in a recent discovery researchers determined that gold nanowires can be used to store electricity and create batteries that last 400 times longer than traditional lithium batteries. Gold nanowires are able to cycle through 200,000 recharges without significant corrosion or decline.