Executive Summary

• According to a new Versinetic study, it is an ‘exciting era for battery technology and the case is becoming increasingly compelling’
• Fears about lithium capacity are unfounded as, from an EV perspective, there is enough material – concerns are ‘more of an artefact of prior lack of demand’
• An interesting UK startup, ECONIQ, is developing a battery technology – lithium-free, sodium-free and rare-earth-free – which reduces the three biggest structural constraints in the global supply chain; cost volatility, safety risk, and material scarcity

Improvements in battery technologies are vital across myriad use cases, from electric vehicles (EVs), to energy storage – and the portents are good. As a recent Versinetic report puts it, it is “an exciting era for battery technology and the case is becoming increasingly compelling.”

Yet for EVs, the Versinetic study, titled ‘The Future of EV Battery Technology Beyond Lithium: The Batteryscene’, argues that a breakthrough in battery technology might not be required.

There is a ‘huge range of possible chemistries, minerals and other materials’ which can be used to make batteries, which makes it ‘highly likely’ that we can resolve current and future issues. In global terms, these materials are in abundance, the report adds, and concerns are ‘more of an artefact of prior lack of demand.’ The report argues that there will be enough lithium in the world for every car to be electric – and alongside this, sodium-ion alternatives are now reaching commercial viability.

Overall, annual improvements in battery performance and production efficiency are helping to reduce cost and improve scalability. A 3.5-fold improvement in battery performance over the last 13 years is ‘set to continue as batteries become the backbone of a zero-carbon future’, the report adds.

Yet some firms are looking outside the box. Last week, it was announced that battery technology company EQONIC Group had been selected as part of the UK government’s Battery Innovation Programme, a £452 million total investment running from April 2026 to March 2030 to deliver a globally competitive, high value battery supply chain in the UK.

The company is developing a battery technology – lithium-free, sodium-free and rare-earth-free – which reduces the three biggest structural constraints in the global supply chain; cost volatility, safety risk, and material scarcity. Key markets, on which the company’s architecture is engineered around, are long-duration stationary storage, industrial and commercial energy systems, and mission critical infrastructure.

The funding will be used to speed up development of a full-stack digital twin of EQONIC’s proprietary manufacturing process. This means that a reconfigurable production and disassembly line will enable battery systems to be manufactured, repurposed, and decommissioned within a single integrated industrial framework.

The company notes the importance of an ‘asset light, technology first’ commercial model, in which rapid global scaling can be achieved through collaborations and partnerships. One such, recently announced, is with Barton Knight Energy, provider of renewable installation across solar PV, EV charging, and BESS. The collaboration ties in with ECONIQ’s technology platform – as well as inverter supply and technical support – to provide a fully integrated offering. Another collaboration is with Ellaniti, aimed at ‘accelerating commercial readiness.’

Ultimately, the digital twin will allow shortened time to market, optimised manufacturing efficiency, as well as the ability to demonstrate scalability to further global partners. Jas Kandola, CEO of EQONIC Group, said the programme was ‘one of the most rigorous technical and commercial assessments in the UK battery sector.’ “Our selection validates not just our technology, but our commercial model,” Kandola added.

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