“It will likely be possible in the future to store wind and solar energy efficiently even on a large scale.” Evonik Industries announced that it is working on the world’s largest battery to store wind and solar energy.
In late 2008, Evonik announced that they had closed on a JV with Daimler. Daimler bought 49.9% of Li-Tec, a subsidiary of Evonik Industries. Li-Tech focuses on the development of lithium-ion batteries. Li-Tec has set itself an ambitious goal: to become the number one producer of Lithium-Ion batteries in Europe. Its manufacturing base is in Dresden, Germany.
At a first step, the firm is working on a battery that can store up to 700kWh with an output of one megawatt. A battery of that magnitude could provide the power for 4’000 households a year.
Evonik sees the market size in the multi-billion Euro range, growing to some €10bn in the long-term. Today, Evonik is active in over a 100 countries, has some 41’000 employees and generated sales of about €15.9bn (2008) with an EBITDA of €2.2bn. However this is across all its functional areas and includes Chemicals, Real Estate, Energy (hard-coal, renewable energy).
The German government supports an initiative (Lib 2015) lead by a private consortia of Bosch, Volkswagen (VW), BASF, Evonik and Li-Tec which amounts to €360m over the next three years. The German government is contributing some €60m over a four-year period.