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Advanced Battery Weekly

© 2016 NAATBatt International • Advanced Battery Weekly • All Rights Reserved June 24, 2016 Vol. 7 No. 26

Summary: For the June 24th issue of NAATBatt’s Advanced Battery Weekly, we highlight recent sector activities. The NAATBatt and U.S. Indices were up 8.8% w/w and 3.3% w/w, respectively. The Asia Index was down 4.2% w/w. The S&P 500 and Russell 2000 Indices were both relatively flat w/w. Executive Director James Greenberger notes that all signs are pointing to an improving market for electric vehicles. Read “Electric Vehicle Market Looking Better” in the Executive Director's Notes section of the newsletter. Check out our Members’ Press Releases section after the Key Highlights. Key Highlights: • The United States Advanced Battery Consortium LLC (USABC) announced the award of a

contract to SiNode Systems for development of advanced anode materials for automotive lithium-ion (li-ion) battery applications. The competitively bid contract award is 50% cost share-funded by the U.S. Department of Energy (DOE).

• BMW i has announced a stationary energy storage system that utilizes i3 high-voltage batteries and

can be expanded to incorporate 2nd life batteries as they become available in the market. The company is working with Beck Automation, which is providing a charging module.

• Tesla Motors has made an offer to buy SolarCity in a stock deal worth as much as $2.8 billion.

SolarCity is the U.S. market leader in residential rooftop solar systems. • NextEra Energy’s NEE unit, Florida Power & Light (FPL) announced that it will launch an energy

storage pilot project. FPL will install various types of battery systems in the densely populated regions of Miami-Dade as well as the isolated areas of Monroe county in southern Florida.

• BYD announced orders for 16 of its new pure electric buses (ebuses) and coaches to French

operators along with a trial with RATP that starts later this year. B.E.Green of Yvelines has ordered three ebuses and one 12 meter ebus.

• LG Chem and Samsung SDI have failed to obtain the certification of electric vehicle (EV) batteries

from the Chinese government. The Ministry of Industry and Information Technology (MIIT) recently made the fourth announcement of the ‘31 certificated battery companies’ that have met the Chinese regulations.

• Nissan Motor is planning to debut an EV in China (as soon as this summer) that is priced about 30%

less than existing models. The company will produce the car locally and procure more key components such as batteries from within the country.

• An electric road has been inaugurated on the E16 in Sandviken (Sweden). The test on the E16 is

being carried out by Region Gavleborg and involves a current collector on the roof of the truck cab feeding the current down to a hybrid electric motor.

• Enovix is in the pilot-production phase for its 3D Silicon™ li-ion rechargeable battery. The patented

3D cell architecture improves spatial efficiency to increase energy density and allows for a 100% silicon anode.



• California State University (CSU) and Advanced Microgrid Solutions (AMS) announced the

installation of a portfolio of Hybrid Electric Buildings® at CSU campuses that will provide critical support to the electric grid in the Aliso Canyon area. The storage systems will be implemented in multiple phases.

• Researchers at the Korea Advanced Institute of Science and Technology (KAIST) have

developed a type of graphene for li-ion batteries that can be recharged at a faster rate than conventional ones with no risk of reduced capacity. The KAIST team uses a chemical vapor deposition (CVD) process to produce a 3D sheet of carbon that is also free of impure elements.

• The University of Georgia has been awarded funding from the state of Georgia to purchase 19

ebuses. The ebuses can be used as batteries to power buildings-such as residence halls or dining facilities-for up to five hours per bus.

Members’ Press Releases

RedFlow Redflow works with Redback technology to bring smarter solar to Australia http://www.impress.com.au/newsroom/redflow/2002-redflow-works-with-redback-technology-to-bring-smarter-solar-to-australia.html A Few More Details: The United States ABC announced the award of a $4 million contract to SiNode Systems for development of advanced anode materials for automotive li-ion battery applications. The competitively bid contract award is 50% cost share-funded by the U.S. DOE. The 30-month program will focus on the development of silicon-graphene high-energy anode material appropriate for vehicle applications and the development and scale up of pouch cells that exhibit anode performance metrics that exceed the minimum USABC targets for active materials development for EVs. Source: SiNode Systems BMW i has announced a stationary energy storage system that utilizes i3 high-voltage batteries and can be expanded to incorporate 2nd life batteries as they become available in the market. The company is working with Beck Automation, which is providing a charging module. The BMW- and Beck-branded system will store electricity that homeowners and business-owners can use to power computers, water-heaters. Source: BMW Group Tesla Motors has made an offer to buy SolarCity in a stock deal worth as much as $2.8 billion. The solar systems would be sold under the Tesla brand. SolarCity is the U.S. market leader in residential rooftop solar systems. Source: Reuters



NextEra Energy’s NEE unit, FPL announced that it will launch an energy storage pilot project. The project is aimed to strengthen the electric grid by testing various applications of battery technologies under real-life conditions. FPL will install various battery systems in the densely populated regions of Miami-Dade as well as the isolated areas of Monroe county in southern Florida. FPL expects to begin construction of the project this summer, with most components anticipated to commence operation by the year end. Source: NextEra Energy BYD announced orders for 16 of its new ebuses and coaches to French operators along with a trial with RATP that starts later this year. B.E.Green of Yvelines has ordered three BYD ebuses and one 12 meter ebus. The Nedroma Group of Athis Mons has ordered 12 ebuses. Source: BYD LG Chem and Samsung SDI have failed to obtain the certification of EV batteries from the Chinese government. The MIIT recently made the fourth announcement of the 31 certificated battery companies’ that have met the Chinese regulations. LG Chem and Samsung may not have not satisfied the regulatory rules prescribing the qualification process, including about documentation. Source: Business Korea Nissan Motor is planning to debut an EV in China (as soon as this summer) that is priced about 30% less than existing models. The company will produce the car locally and procure more key components such as batteries from within China. The EV will sell for 100,000 yuan ($15,206) to 150,000 yuan ($22,809) after government subsidies – comparable to a gasoline-fueled car of the same size. Source: Nikkei An electric road has been inaugurated on the E16 in Sandviekn, Sweden. The test on the E16 is being carried out by Region Gavleborg and involves a current collector on the roof of the truck cab (as shown in Exhibit 1) feeding the current down to a hybrid electric motor. The testing will continue up through 2018. Exhibit 1: The E16 Electric Road

Source: Swedish Transportation Administration Enovix is in the pilot-production phase for its 3D Silicon™ li-ion rechargeable battery. The patented 3D cell architecture improves spatial efficiency to increase energy density and allows for a 100% silicon anode. The company is using established photolithography and solar-grade silicon wafer processes to achieve high-volume, low-cost production. Testing of prototype 3D silicon li-ion cells has measured an increase in energy density of up to 3x that of conventional li-ion batteries.



Source: Evonix CSU and AMS announced the installation of a portfolio of Hybrid Electric Buildings® at CSU campuses that will provide support to the electric grid in the Aliso Canyon area. The storage systems will be implemented in multiple phases. The first phase of the project will reduce the CSU’s electric utility costs by more than $3.3 million and will store enough energy to power 2,000 homes. In the initial phase of the project, the company will oversee the design, installation and operation of a 1,000kW/6,000kWh energy storage system at CSU’s Long Beach campus. Source: AMS Researchers at the KAIST have developed a type of graphene for li-ion batteries that can be recharged at a faster rate than conventional ones with no risk of reduced capacity. The KAIST team uses a CVD process to produce a 3D sheet of carbon that is also free of impure elements. The lack of foreign elements allows it to be recharged at a much faster rate than conventional materials. A proving test has confirmed no reduction in battery capacity after 10,000 recharges. Source: Korea Times The University of Georgia has been awarded $10 million from the state of Georgia to purchase 19 ebuses. The ebuses can be used as batteries to power buildings-such as residence halls or dining facilities-for up to five hours per bus. The e buses should arrive on campus in 2017 and are part of the university's strategic plan to advance campus sustainability. Source: University of Georgia Exhibit 2: Indices Performance (From January 6, 2014)

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50

100

150

200

1/6/20

141/2

0/201

42/3

/2014

2/17/2

014

3/3/20

143/1

7/201

43/3

1/201

44/1

4/201

44/2

8/201

45/1

2/201

45/2

6/201

46/9

/2014

6/23/2

014

7/7/20

147/2

1/201

48/4

/2014

8/18/2

014

9/1/20

149/1

5/201

49/2

9/201

410

/13/20

1410

/27/20

1411

/10/20

1411

/24/20

1412

/8/20

1412

/22/20

141/5

/2015

1/19/2

015

2/2/20

152/1

6/201

53/2

/2015

3/16/2

015

3/30/2

015

4/13/2

015

4/27/2

015

5/11/2

015

5/25/2

015

6/8/20

156/2

2/201

57/6

/2015

7/20/2

015

8/3/20

158/1

7/201

58/3

1/201

59/1

4/201

59/2

8/201

510

/12/20

1510

/26/20

1511

/9/20

1511

/23/20

1512

/7/20

1512

/21/20

151/4

/2016

1/18/2

016

2/1/20

162/1

5/201

62/2

9/201

63/1

4/201

63/2

8/201

64/1

1/201

64/2

5/201

65/9

/2016

5/23/2

016

6/6/20

166/2

0/201

6

NASDAQ Composite Index Russell 2000 AMEX Cleantech IndexNAATBatt Index Advanced Battery U.S. Index Advanced Battery Asia IndexTesla Motors LG Chem Johnson Controls

(Indexed to 100)



Source: Bloomberg Exhibit 3: Indices Performance

Close on 52-Wk % of 52-Wk PerformanceIndex 6/20/2016 High High LTM YTD Week

Dow 17,804.9 18,188.8 97.9% (1.2%) 32.7% 0.4%S&P 500 2,083.25 2,132.8 97.7% (1.3%) 42.5% 0.2%NASDAQ 4,837.21 5,231.9 92.5% (5.5%) 55.4% (0.2%)Russell 2000 1,157.70 1,296.0 89.3% (9.9%) 32.5% 0.7%AMEX Cleantech Index 1,330.0 1,397.4 95.2% (1.2%) 30.3% 2.2% Source: Bloomberg and ThomsonOne Exhibit 4: Supplier Performance (From January 6, 2014)

0

25

50

75

100

125

150

175

200

1/6/20

14

3/6/20

14

5/6/20

14

7/6/20

14

9/6/20

14

11/6/

2014

1/6/20

15

3/6/20

15

5/6/20

15

7/6/20

15

9/6/20

15

11/6/

2015

1/6/20

16

3/6/20

16

5/6/20

16

FMC Corp (Lithium Supplier) Hirano Tecseed Co. (Coater supplier)Albemarle ABBSociedad Quimica y Minera de Chile S.A. Toray Industries Inc. (Separator supplier)Inoue Kinzoku Kogyo Ltd. (Coater supplier)

(Indexed to 100)

Source: Bloomberg Exhibit 5: Commodity Prices

Price on Price on Price on 1 Week 1 MonthCommodity 6/20/2016 6/13/2016 5/23/2016 Change Change

LME Copper (Cash, $ per tonne) 4,687 4,514 4,571 3.8% 2.5%LME Lead (cash, $ per tonne) 1,712 1,698 1,646 0.8% 4.0%LME Nickel (cash, $ per tonne) 9,225 8,820 8,305 4.6% 11.1% Source: LME



Exhibit 6: Natural Gas and Crude Oil (From January 2, 2014)

0

50

100

150

1/2/20

14

2/2/20

143/2

/2014

4/2/20

145/2

/2014

6/2/20

14

7/2/20

14

8/2/20

14

9/2/20

1410

/2/20

14

11/2/

2014

12/2/

2014

1/2/20

15

2/2/20

153/2

/2015

4/2/20

15

5/2/20

15

6/2/20

157/2

/2015

8/2/20

15

9/2/20

15

10/2/

2015

11/2/

2015

12/2/

2015

1/2/20

16

2/2/20

163/2

/2016

4/2/20

16

5/2/20

16

6/2/20

16

(Indexed to 100)

Source: EIA



Executive Director’s Notes

ELECTRIC VEHICLE MARKET LOOKING BETTER

The electric vehicle (EV) market is starting to look better after a disappointing start. Growth in the EV market has been slower over the past few years than many would have expected. Low gas prices and the failure of science to produce a hoped-for, and at one time generally expected, break-through in battery technology, have resulted in a lower rate of EV adoption through the early part of this decade than what was expected by many towards the end of the last decade. But there are indications that growth may soon return to the EV market. Crude oil prices are bumping up against $50 per barrel, from a low of less than $30 earlier this year. On Monday, the Wall Street Journal reported as likely a drop of 5% in U.S. gasoline demand by 2035 as a result of EV adoption, with a possible drop of as much as 20% in demand if EV’s gain a 35% market share. That EV’s may be positioned to gain a significant share of the vehicle market by 2035 is no longer considered far-fetched. General Motors, Tesla, Nissan, Hundai and Voltwagen are all working on (and in the case of General Motors and Tesla have already introduced) extended range (200+ miles) EV’s. Ford has said it would invest $4.5 billion over the next four years to develop 12 new electric cars and hybrids, and Volvo has set a goal of producing one million electric vehicles by 2025. Sometimes lost in the commercial buzz is the continuing political interest of governments around the world in pushing EV technology. For example, Germany has mandated that all new cars registered in the country will have to be emissions-free by the year 2030. The German government and automakers have jointly agreed to spend $1.4 billion on incentives to boost electric car sales. German automakers collectively hope to sell 500,000 EV’s by 2020. Norway is following suit as well, working on legislation to outright ban the sale of gasoline-powered cars by 2025. And the science of batteries continues to advance. I spent this past week at the IMLB 2017 meeting in Chicago, the leading biannual academic conference on lithium-ion battery technology in the world. Although the conference reaffirmed my suspicion that no breakthrough in battery technology of the kind we imagined during the last decade is imminent, the number of brilliant minds working to solve the huge number of obstacles to better battery performance is inspiring and justifies tremendous confidence in the future of the technology. The EV market has never been about if, but when. The EV revolution got off to a slow start. But EV’s with longer ranges at more affordable prices, tighter air-pollution regulations, the continuing political will to



confront climate change, and the steady march of battery science all point to a better and rapidly accelerating EV market in the future.

James J. Greenberger

Executive Director

June 24, 2016



NAATBatt International

Membership Applications for 2016

_________________ Membership Applications and Dues Structure NAATBatt International is accepting applications for membership from companies engaged in the business or applications of advanced electrochemical energy storage technology. Annual membership dues for 2016 are $7,500 for Platinum Members, $5,000 for Gold Members $2,500 for Silver Members, and $1,000 for Public Service Members (not-for-profit and government entities). Affiliates of Platinum Member companies and early stage companies with less than two years of operating history and revenues of less than $500,000 per year may join as special Silver Members for the price of $1,000 per year. Applicants may choose their level of membership based on their desired participation in NAATBatt International. Membership runs for 12 months from the month in which an application is accepted. For details about our membership structure, including a list of the benefits of each class of membership, and a membership application, please click here. Why Join NAATBatt International? NAATBatt International is a not-for-profit trade association of companies, associations and research institutions commercializing advanced electrochemical energy storage technology for emerging, high tech applications worldwide. Our mission is to promote the commercial interests of our members by supporting developments in the science of and markets for advanced electrochemical energy storage technology consistent with the goals of enhancing energy efficiency, reducing petroleum dependence and enabling carbon-free electricity generation. Our members include advanced battery, ultracapacitor and electrode manufacturers, energy materials suppliers, vehicle makers, electric utilities, equipment vendors, service providers, universities and other research institutions. We are a membership-based organization focused on delivering the following benefits to our members:

• Strategic market intelligence • Access to new and emerging electrochemical energy storage technology • Networking and building name recognition within the industry

NAATBatt International conducts multiple programs for its members over the course of the year. One of our most popular programs is our Members’ Site Visit meetings. At these meetings, one NAATBatt member hosts all other members for a tour of the hosting member’s business and production facilities. These tours give participants an unprecedented opportunity to learn about the needs and capabilities of individual member firms. Past hosts of these programs include General Motors, EaglePicher, Duke Energy, EnerDel, Cabot Corporation, S&C Electric, Magna Steyr, DNV-GL, Grafoid, Hydro-Quebec, XALT Energy and Battery Innovation Center (BIC). These programs are open to NAATBatt members only. NAATBatt members also get exclusive information about new products and new opportunities in the market. Each year, NAATBatt runs an Energy Storage Innovation Summit in conjunction with our annual meeting and conference. At the meeting, 20 jury selected emerging companies developing market-ready energy storage-related technologies make presentations directed to companies looking for licensing and



acquisition opportunities. The Summit is the culmination of an industry-wide survey and solicitation for new technologies. NAATBatt members have the exclusive opportunity to participate in the selection process and get a first look at these new technologies. NAATBatt members have access to ABC PatentEdge™, a database of patents and patent applications covering advanced batteries and ultracapacitors developed by NAATBatt in cooperation with the research firm IP Overviews. The database, and the quarterly reports summarizing developments in the database, provide NAATBatt members with deep insight into where advanced battery and capacitor technology is going and where the major players in that market are really making their R&D bets. NAATBatt, as the only international trade association focused on advanced electrochemical energy storage, is a frequent resource for companies looking for products or services involving advanced battery technology. NAATBatt routinely receives inquiries for products and services, which NAATBatt forwards, exclusively, to NAATBatt member firms. For example, NAATBatt recently received and transmitted to its members a solicitation for batteries from a California municipality looking to electrify its bus fleet. This inquiry was transmitted to NAATBatt members well before non-NAATBatt members learned of the opportunity. If you think that NAATBatt membership costs money, think about what not being a member costs. NAATBatt is the pre-eminent networking organization for professionals and companies working in the advanced battery industry. NAATBatt believes that good business relationships are founded on good personal relationships. From our members-only networking dinners, to our Advanced Battery Golf and Tennis tournament, to our annual meetings held at four and five-star resorts, we are dedicated to ensuring the development of strong personal and social relationships among professionals working in the industry. NAATBatt membership is meant to be fun, but it is fun with a serious purpose: Helping our members build bigger and more profitable businesses. NAATBatt is a not-for-profit trade association qualified under Section 501(c)(6) of the Internal Revenue Code and works for the benefit of the entire advanced battery and ultracapacitor industry. Every dollar spent on NAATBatt memberships and programs goes to recouping program costs and to supporting activities intended to benefit the entire advanced battery industry. At a time when it seems that the only people making money on lithium-ion technology are professional conference organizers, the advanced battery industry needs to take control of its own market and its own future. Electrochemical energy storage is the most important technology challenge of our time. Solving the problem of how to store more electricity in a smaller mass is fundamental to progress in vehicle technology, the Smart Grid, robotics, consumer electronics, unmanned aviation, fuel efficient maritime systems, electricity-based weapons systems, medical devices, monitoring systems and many of the other technologies that will shape human society in the 21st Century. Join us in our mission. We are helping to store the energy that will power the world.™



Contact Information:

NAATBatt International 122 South Michigan Avenue, Suite 1700

Chicago, Illinois 60603 (312) 588-0477

www.naatbatt.org

Officers

Davion Hill

DNV-GL Chairman

Bob Galyen Amperex Technology Limited

President

Jean-Pierre Arvers Digatron Power Electronics

President-Elect

Randy Moore

EaglePicher Technologies Chairman Emeritus

Steve Vechy

EnerSys Chairman Emeritus

Zak Kuznar Duke Energy

Chairman Emeritus

Brian Morin

Dreamweaver International Vice President

Ralph Brodd

Broadarp of Nevada Chief Technology Officer

John Butkowski

Beckett Energy Systems Vice President

Michael Lew

Head of Communications

Paula Szyper

Director of Meetings

John Platt

Snell & Wilmer LLP Secretary

Jim Greenberger Executive Director

Sandy Kane

Chief Financial Officer



MEMBERANNOUNCEMENTSANDADVERTISING

BatteryInnovationCenter



Intersolar/eesNorthAmericaNAATBattandeesNorthAmericahaverenewedtheirpartnership!Co-locatedwithIntersolarNorthAmerica,eesNorthAmericarunsJuly12-14,2016inSanFranciscoandcoverstheentirevaluechainofinnovativebatteryandenergystoragetechnologies.ThisshowisthebestopportunitytoexploretheopportunitiesforcombiningenergystoragesystemswithPVsolarsystems.IfyouareinterestedinexhibitingatIntersolar/eesNorthAmerica,pleasecontactWesDoane([email protected])

DuetoNAATBatt’scontinuingpartnershipwithIntersolar/eesNorthAmerica,NAATBattmemberfirmsexhibitingattheshow—themostattendedsolarindustrytradeshowinNorthAmerica--areentitledtothefollowingexclusivebenefits:

• 25%boothspacediscount(NAATBattmemberfirmsonly)

• 20%Discountonfirst-classeesconferencepassesattheInterContinentalHotel

• 20%Discountoneesconferenceprogramsponsorshippackages

• Complimentary“ExpoHallPasses”toeesandIntersolarNorthAmerica

ContactJimGreenberger([email protected])orWesDoane([email protected])fordetails.

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