Nuclear fusion energy is clean, safe, and sustainable. It combines lighter atoms to release vast energy without high-level radioactive waste. Commonwealth Fusion Systems (CFS), the Massachusetts-based fusion giant aims to revolutionize the clean-energy space by generating infinite carbon-free power with its flagship fusion project SPARC. Since its inception in 2018, the company has secured over $2 billion in funding, which makes it the world’s largest private fusion company.

Recently CFS announced that it has built and tested a groundbreaking electromagnet, the Central Solenoid Model Coil (CSMC). This scientific innovation brings the company closer to using clean fusion energy for the grid. 

Commonwealth Fusion Systems’ Mighty Magnet Makes Fusion Feasible

The CSMC test, combined with the already tested (in 2021) and successfully existing Toroidal Field Model Coil (TFMC), proves the functionality of two essential high-temperature superconducting (HTS) magnets. These magnets are crucial for SPARC, the tokamak machine which is designed to demonstrate net fusion energy.

Additionally, the TFMC validated magnets for steady electrical currents, while the CSMC confirmed the capability for pulsed electrical currents.

Brandon Sorbom, Co-Founder and Chief Science Officer noted,

“This is an important milestone on the road to commercialization. When we hit the button and put current through the magnet, it performed like a champ and hit all its major test objectives. The fact that our team was able to develop this technology from benchtop to a fully integrated, at-scale superconducting magnet in just a couple of years is huge.”

The press release also mentioned that CFS developed PIT VIPER which is an advanced HTS cable technology. It aids in powering SPARC’s central solenoid (CS) and poloidal field (PF) magnets. PIT VIPER’s innovative design minimizes heating during rapid current changes, enabling high-performance magnets.

The CSMC Model

source: CFS

Key test results from the Central Solenoid Model Coil include:

• Handling electrical currents up to 50,000 amps, enough to power 250 modern homes.
• Generating a magnetic field of 5.7 teslas—100,000 times Earth’s magnetic strength.
• Releasing energy rapidly at 4 teslas per second, validating SPARC magnet behavior.
• Storing a record 3.7 megajoules of energy, equivalent to five pickup trucks traveling at 60 mph.
• Using fiber optics to detect overheating events, ensuring magnet safety.

CFS and MIT: Partners in Fusion Progress

The successful CSMC test showcases CFS’ leadership in magnet technology. The company scaled up PIT VIPER cable production and demonstrated its ability to design and operate magnets under SPARC-like conditions.

Experts from CFS and the Massachusetts Institute of Technology (MIT) collaborated on this project and conducted the tests at MIT’s Plasma Science & Fusion Center (PSFC). Moving on, CFS plans to produce the first plasma with SPARC in 2026 and achieve net energy soon after. The company’s first power plant, ARC, is expected to deliver electricity to the grid in the early 2030s.

Ted Golfinopoulos, one of the principal investigators at MIT for the CSMC project said, 

“Where the mission of the TFMC was to demonstrate a steady strength, the CSMC needed to demonstrate speed.”

He also hailed the collective effort of the amazing team by remarking,

“Hundreds of hands have touched this coil, from its inception on the drafting board to its long and complicated test program. The ingenuity, perseverance, and heart shown by this close-knit team was as impressive as the coil that sprang from their labors.”

Notably, the U.S. Department of Energy’s Advanced Research Projects Agency–Energy (ARPA–E) and Fusion Energy Sciences (FES) programs supported the innovation.

• READ MORE: What Does the U.S. Need to Triple Its Nuclear Capacity by 2050? DOE Explains…

Commonwealth Fusion Systems Aims to Transform Coal Plants with Nuclear Fusion

From a recent Bloomberg report, we discovered that Tokamak designs were first developed in the 1950s and they already demonstrated the ability to trigger fusion reactions. However, their practical and commercial viability is still questionable. This is because these traditional electromagnets require a humongous amount of power to shift them from scientific experiments to practical energy solutions.

CFS’s blueprint electromagnets that we described earlier can keep the plasma under control and maintain the continuity of the fusion reaction. This is why Bob Mumgaard, CEO of Commonwealth Fusion Systems expressed his satisfaction, saying that this was the last major technology hurdle they needed to clear.  

The report further highlighted CFS’s plans to replace fossil fuel boilers with fusion power by harnessing the same energy source as the sun. The company is already assessing old coal and natural gas plant sites as potential locations for building its first commercial fusion systems. However, their demonstration device is still in the developmental phase.

Nonetheless, CFS is confident of its success and the shift from fossil fuels to clean, carbon-free energy using fusion.

The recently published Global Fusion Industry Report reveals a rapidly intensifying race to commercialize fusion energy. Currently, 45 companies are advancing diverse technologies and have collectively raised over $7 billion. Public-private partnerships are playing a pivotal role in the fusion development process and have brought a remarkable 50% increase in funding.

The investment figures are shown below:

Source: 2024 Global Fusion Industry Report

Industry reports and expert opinions confirm that the fusion industry is still in its development phase. Building commercial nuclear fusion systems will take time, but progress is accelerating with increased investments and scientific breakthroughs. In this space, Commonwealth Fusion Systems is driving the transition toward a global clean energy future with its groundbreaking innovations.

Sources:

1. Commonwealth Fusion Systems Magnet Success Propels Fusion Energy Toward the Grid | Commonwealth Fusion Systems
2. Nuclear Fusion Leader Wants to Build on Site of Old Coal Plants – BNN Bloomberg

• MUST READ: $7.1 Billion Investment Fuels Fusion Commercialization. Is Fusion the Future Energy? 

The post Commonwealth Fusion Systems’ Innovative Magnet Powers Fusion to the Grid appeared first on Carbon Credits.

Lithium is an essential component in lithium-ion batteries which are mainly used in EVs and portable electronic gadgets. Often known as white gold due to its silvery hue, it is extracted from spodumene and brine ores. After mining it is processed into:

• Lithium carbonate is commonly used in lithium iron phosphate (LFP) batteries for electric vehicles (EVs) and energy storage.
• Lithium hydroxide, which powers high-performance nickel manganese cobalt oxide (NMC) batteries.

Diversifying Lithium Supply

According to IRENA’s 2024 edition of the Critical Minerals Report, last year global lithium production reached 0.96 million metric tons (Mt) of lithium carbonate equivalent (LCE) which could suffice short- to medium-term demand. But beyond 2030, recycling will play a crucial role in lithium supply, with 0.4 Mt of LCE expected to be available annually by 2035.

Lithium supply and demand in 2023 and 2030

The report says that at present lithium mining is highly concentrated, with over 90% sourced from Australia, Chile, and China. This has also led to global supply chain vulnerabilities.

However, efforts to diversify production are underway, with countries like the Democratic Republic of Congo, Germany, Ghana, and Portugal increasing their investments in lithium exploration. These initiatives could help reduce dependence on a few dominant suppliers and spread mining activities across the globe.

What’s Driving Lithium Demand?

Even though we have reported earlier, the answer remains the same. It is the EV market that’s primarily driving lithium demand. It’s projected to form 82% of total demand by 2030 which is a significant increase from 62% in 2022.

Other applications, such as energy storage systems, electronics, and industrial uses, are expected to contribute between 0.43 and 0.60 Mt of demand annually by 2030.

Meeting this growing demand will require a mining expansion, diversified supply chains, and robust recycling systems to ensure a steady and sustainable lithium supply for the future.

Lithium demand from EV batteries and other applications, 2022 and 203

• READ MORE: Global Lithium and Battery Trends: Top Stories You Need to Know! 

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Li-FT Power: Exploring & Developing Hard Rock Lithium Deposits In Canada

Li-FT Power Ltd. (TSXV: LIFT) recently announced its first-ever National Instrument 43-101 (NI 43-101) compliant mineral resource estimate (MRE) for the Yellowknife Lithium Project (YLP), located in the Northwest Territories, Canada.

An Initial Mineral Resource of 50.4 Million Tonnes at Yellowknife.

This maiden estimate is a major milestone for the company and marks a significant step forward in the project’s development. Li-FT Power’s upcoming mineral resource is expected to further solidify Yellowknife as one of North America’s largest hardrock lithium resources.

Click to learn more about lithium and Li-FT Power Ltd. >>

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EV Battery Production Set to Triple by 2030

• Lithium-ion battery production is expected to be 3X by 2030, increasing from 2,000 GWh/year in 2023 to 7,300 GWh/year.
• This growth will meet the EV battery demand of 4,300 GWh/year by 2030 under a 1.5°C climate scenario.

This projected growth includes operational factories, construction projects, and announced plans. However, some projects are still waiting for finalizing investments. These batteries won’t just power EVs; they’ll also support rising demand from energy storage systems and portable electronics.

As EV sales accelerate, the demand for EV batteries is increasing rapidly. Passenger cars and trucks are driving most of this demand due to their high sales volumes and the large battery sizes required for trucks. EV battery demand is expected to exceed 4,300 GWh annually by 2030, representing a five-fold increase compared to 2023.

In addition to EVs, other sectors like battery energy storage systems (BESS) are also increasing battery demand. BESS demand is projected to grow six-fold between 2023 and 2030, but EV batteries will account for nearly ten times more demand by the decade’s end.

What Makes Up an EV Battery?

An EV battery is a pack of battery cells stacked together, comprising the following components:

• Anode: Typically made of graphite.
• Cathode: Often composed of lithium metal oxides.
• Electrolyte: A liquid or solid lithium salt.

These components work together to move lithium ions during charging and discharging. This process enables energy storage and release, powering the vehicle.

Battery system components and internal components of a battery cell

EV Battery Chemistries: A Closer Look

The cathode and anode represent most of the critical materials in an EV battery. Cathode types vary and include, Nickel Manganese Cobalt Oxides (NMC), Nickel Cobalt Aluminum Oxides (NCA), Nickel Manganese Cobalt Aluminum Oxide (NMCA), Lithium Iron Phosphate (LFP), and Lithium Manganese Iron Phosphate (LMFP). All these chemistries rely on lithium, but their compositions differ.

Now speaking of EV battery anode, pure graphite is the most widely used material. EV batteries typically use a mix of natural and synthetic graphite. The ratio depends on the cost, performance needs, and battery type.

Copper is another key material in EV anodes. Copper foils act as current collectors, playing a vital role in the battery’s operation.

These variations impact the choice of materials, cost, and environmental footprint and fuel the demand for critical minerals in the EV battery industry.

Estimated average critical material composition of selected EV battery packs

Asia-Pacific Leads in EV Battery Production

The Asia-Pacific region currently dominates global battery production, holding about 75% of capacity. By 2030, this share is expected to dip slightly to 70%, as other regions ramp up production. Europe is projected to see the fastest growth, with a 10X increase in capacity between 2023 and 2030.

This rapid expansion highlights the global push to support EVs and other technologies, ensuring the world moves closer to a cleaner energy future.

Regional lithium-ion battery manufacturing capacity in 2023 and planned capacity for 2030

Source: Data and Visuals from IRENA: Critical materials: Batteries for electric vehicles

• SEE MORE: Global EV Trends: Growth, Challenges, and the Future of Electric Mobility • Carbon Credits

The post Lithium’s Essential Role in EV Battery Chemistry and Global Supply Dynamics appeared first on Carbon Credits.

Demand for battery-grade nickel is expected to surge, tripling by 2030, according to Benchmark Mineral Intelligence. This growth will largely be due to mid- and high-performance electric vehicles (EVs) in Western markets.

A senior nickel analyst at Benchmark, Jorge Uzcategui, particularly noted that:

“China will see growth too, but it won’t match the pace in ex-China regions.”

Despite lithium iron phosphate (LFP) batteries dominating the Chinese market, nickel-based chemistries are set to hold a significant share globally. Their superior performance and limited LFP supply chains outside China support this trend.

EV Sales Stall, Nickel Demand Slows

Battery nickel demand has faced setbacks in 2024 due to slower-than-expected EV sales in Western markets. Inflation and high interest rates have made EVs less competitive compared to internal combustion engine (ICE) vehicles.

This slowdown has pushed automakers to delay or revise their EV targets in Europe and North America. It has also led to gigafactory project cancellations, reducing North America’s 2030 battery supply forecast by 3% and Europe’s by 10%, according to Benchmark’s data.

China, however, has seen record EV sales, with almost 1.2 million units sold in October alone. But most of these vehicles use LFP batteries, limiting the impact on nickel demand.

Additionally, battery producers are leaning toward mid-nickel NCM chemistries. These offer better thermal stability and reduce the risk of overheating, making them more attractive amid low cobalt and manganese prices.

• RELATED: The Nickel Market is Changing Big Time: Is a Supply-Demand Shift Underway?

Nickel Poised for a Comeback

Despite current challenges, the long-term outlook for battery nickel remains strong. Although weak demand and expanded supply have pulled nickel prices to their lowest levels since 2020, demand for battery-grade nickel is projected to grow 27% year-on-year in 2024.

Looking ahead, nickel-based chemistries are expected to dominate, capturing 85% of battery cell production capacity outside China by 2030. High-nickel chemistries will play a growing role as EV technology advances.

• Benchmark forecasts that over 50% of nickel demand growth by 2030 will come from batteries. By the end of the decade, battery nickel demand could hit 1.5 million tonnes annually.

Price Rollercoaster: Will Oversupply Keep Nickel Down?

With the projected growing demand for nickel, how about the metal’s prices? 

In the third quarter of 2024, nickel prices started on a downward trend. After reaching a high of $21,615 per metric ton in May, the price fell to $17,357 by July 1. In August, nickel prices hovered between $16,150 and $16,500 before climbing to $17,136 on August 27. 

However, in early September, prices dropped again, reaching a low of $15,741 on September 10. This was close to the year’s lowest price of $15,668, recorded in February. Despite this, prices surged in late September, peaking at $17,698 on October 1.

Oversupply from Indonesia

The main issue for nickel prices has been oversupply, especially from Indonesia. The country increased its mined nickel production by 99,000 metric tons in Q3. By the end of 2024, Indonesia is expected to increase production to 2.4 million metric tons, making up 57% of global output.

Indonesia has capitalized on its 2020 nickel ore export ban, drawing billions in foreign investment for its mining and EV supply chains. This strategic move has bolstered Indonesia’s dominance in the nickel market. 

According to Adrian Gardner, principal analyst at Wood Mackenzie, Indonesia is set to account for 60-65% of global nickel mine production, solidifying its role as a key player in the industry. Gardner further noted that:

“We have seen on several occasions that, when Indonesia stopped or restarted ore exports and threatened to stop nickel pig iron and intermediate product exports, there was a reaction in nickel prices. The government sets the rules, and the rules are the tools.” 

S&P Global Market Intelligence reveals a dramatic surge in Indonesia’s nickel ore imports from the Philippines. From January to August 2024, imports skyrocketed to 5.3 million metric tons, a massive leap from just 53,904 metric tons during the same period in 2023.

Although Indonesia dominates production, its quota system has made it difficult for Chinese smelters to secure a steady supply. This forced them to cut output temporarily. To keep up, Indonesian refiners turned to imports from the Philippines, the world’s second-largest nickel producer.

Despite relying heavily on China’s investment, Indonesia is looking to diversify its partnerships, particularly with Western countries. However, a new trade deal with China includes a $1.42 billion agreement between China’s GEM and Indonesia’s PT Vale to build a plant for processing battery-grade nickel.

Another major project involves China’s Huayou Cobalt, Ford, and PT Vale. They plan to invest $2.7 billion in a facility that will produce nickel for EV batteries.

More recently, China launched a $1.4 trillion debt swap to address its financial challenges and promote economic growth. It also plans to lower the deed tax for homebuyers to further stimulate the economy.

Challenges and Opportunities in Western Markets

In Canada, the government has committed C$46 billion to develop four EV battery plants. However, industry experts say this will require more raw materials than Canada can currently produce. The country may need up to 15 new mines to meet demand.

Europe faces its own challenges with the new Carbon Border Adjustment Mechanism (CBAM), which taxes carbon-intensive imports. Some in the steel industry argue that CBAM won’t benefit them, as it only considers direct emissions.

Meanwhile, European steelmakers are increasing their reliance on nickel pig iron imports from Indonesia. This trend has led to production cuts in Europe as they struggle to compete with cheaper imports.

What’s Next for Nickel Prices and Demand?

China will continue to play a major role in the nickel market, both in supply and demand. Although China’s EV sector grew 32% year-on-year in the first nine months of 2024, it hasn’t been enough to offset weak demand in other sectors.

Nickel prices are expected to face continued pressure in the coming years due to a surplus. With a 5.8% annual growth rate in supply projected through 2028, producers may struggle to restart operations as prices remain flat.

Investors should closely watch developments in China and Western markets, as they will heavily influence nickel’s future. While short-term hurdles exist, battery nickel demand is poised for long-term growth. As EV adoption rises globally, nickel’s role in the energy transition will only strengthen.

• SEE MORE: A Nickel Junior Ready to Power America’s Clean Energy Revolution

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The post Nickel Demand to Triple by 2030: Can the Market Keep Up? appeared first on Carbon Credits.

From metals to mining, energy to electricity, and transport to transmission, every sector is pivoting toward sustainability. The automotive market has already adopted renewable solutions, and one such is Electric Vehicles (EVs), which are playing a significant role in combating transport emissions.

Recent data shows EV sales skyrocketed from under a million in 2012 to about 14 million in 2023. This rapid growth indicates a reduction in oil consumption and a shift toward cleaner energy options for road transportation.

Despite this seemingly impressive EV boom, they currently make up less than 2% of the total global vehicle fleet, according to the International Energy Forum’s (IEF) latest report. This percentage shows there’s ample scope for EV expansion in the future.

At the same time, it leaves one wondering if the EV momentum is slowing down or will pick up space in the coming years. Let’s analyze it here…

Projected EV Sales: Regional Disparities

We discovered from the BloombergNEF report that EV sales including battery-electric and plug-in hybrid vehicles can spike up to 16.7 million units this year but was 13.9 million in 2023.

However, global EV penetration will be unevenly distributed and will vary region-wise. 

source: S&P Global

China

The report further revealed China has captured the global EV market, claiming six out of every ten plug-in vehicle sales worldwide this year. The EV share of domestic car sales was more than 50%, with September alone seeing a nearly 50% surge in sales.

However, Chinese EV sales mainly came from plug-in hybrids and range-extended EVs, rather than battery-electric vehicles (BEVs) that fueled earlier growth. Notably, retail BEV sales in China have grown by 18% this year, while overall plug-in vehicle sales have climbed 37%.

From this data, we can infer that EV sales are not slowing down in China. But this can put pressure on international automakers with stiff competition.

The U.S.

Bloomberg reported that the US EV market is far behind that of Europe and China but hit a high in the third quarter, with around 390,000 vehicles sold.

They further reported that while Tesla’s market share has declined this year, dropping below 50% of all EVs sold in the US, other automakers have stepped up. Companies like GM and Hyundai have significantly increased their sales which made up for Tesla’s slowdown and added a spark to the industry.

On the other hand, media reports say that the EV industry experienced this sudden jerk after President Donald Trump planned to end the consumer tax credit for electric vehicles. Rivian Automotive, Lucid, GM Motors, and Ford Motor joined the fleet, experiencing a sharp stock drop.

Japan and EU

Japan and Germany despite being the major hubs for the largest automotive brands have not only experienced a market slowdown but a massive decline in EV sales.

Several media agencies reported on the challenges for electric vehicles in the European market for a considerable period. This is mainly because of the highly-priced EV models in the market and the pricing system.

BNEF’s head of advanced transport, Colin McKerracher, described gauging the current EV demand in Europe as “complicated”. He commented,

“Automakers are holding off launching more affordable EV models until 2025 when vehicle CO2 targets across the bloc toughen again. They are trying to recoup the full development costs of their EV platforms across relatively low sales volumes.”

He also added that they are likely to see “history” repeat in Europe, with automakers prepping more affordable models like the new Renault 5, Hyundai Inster, Fiat Grande Panda, Skoda Epiq, and VW ID2.all.

Germany experienced a sharp 61% drop in EV sales in August, raising concerns at first glance. However, the decline isn’t as alarming as it seems. In August 2023, a rush to buy EVs before a subsidy cut caused a significant spike in sales, creating an inflated baseline for year-over-year comparisons. This pull-forward effect distorted the figures, making the 2024 drop appear more dramatic than it is.

• READ MORE: How Toyota’s Hydrogen Cartridges Will Change EVs Forever 

Who’s Ahead in Global EV Adoption?

EV penetration is set to grow significantly worldwide. The Internation Energy Forum stressed on the following data:

• IEA projected, that the number of EVs per 1,000 people will rise from less than 1% in 2020 to 28% by 2035 globally.
• China leads with a projected 57% EV adoption among passenger cars by 2035 while the U.S. and EU will reach 30% and 28%, respectively.

Once again China is driving the surge in demand where EVs can cover 70% of road transport within a decade. In contrast, regions like Asia, the Middle East, Africa, and South America show slower adoption. By 2035, EV penetration in these areas will remain around 8% under the IEA’s Stated Policies Scenario. The disparity highlights uneven progress in electric mobility and the challenges for global emissions reduction goals.

The data reveals that there’s a slower pace of EV adoption in developing regions. This highlights the need for supportive policies and better access to sustainable transport solutions.

Electric Vehicle penetration per 1,000 inhabitants

source: International Energy Forum Report 2024

Removing Trade Hurdles for a Greener EV Future

The rapid increase in EV production relies on a robust critical minerals supply chain like lithium, cobalt, and nickel. As we have seen, these materials are essential for manufacturing EV batteries, motors, and renewable energy storage systems.

Imposing trade restrictions on EVs, batteries, and critical minerals creates challenges for adopting clean technologies. It also creates significant delays in the EV manufacturing process.

Even though such policies may support domestic EV growth they come with risks. For example, tariffs on EVs and essential components increase costs for both manufacturers and consumers. Higher costs subsequently make it difficult for countries to deploy cost-effective solutions. If consumerism decreases then delay in progress to achieve climate goals is inevitable.

source: S&P Global

Thus, minimizing barriers in the supply chain is crucial for maintaining a balance in electric vehicle supply and demand. Moreover, governments and industries must work together to streamline trade and avoid complex policies that could disrupt this progress. Once EVs continue to dominate the mobility sector, reliance on fossil fuels will automatically wean off.

Content Sources:

1. International Energy Forum Report 2024
2. Are Global EV Sales Really Slowing Down? | BloombergNEF

• FURTHER READING: Wall Street’s EV Tech Bets: Top 4 Startups Driving the Future of Clean Transportation 

The post Global EV Trends: Growth, Challenges, and the Future of Electric Mobility appeared first on Carbon Credits.