The other nine in the top 10 vendors list are: Sion Power, Seeo, Solid Power, ESS Inc., 24M, Nohm Technologies, Sakti3, OXIS Energy and WattJoule.
Navigant Research says despite the progress made by commercially available lithium ion (Li-ion), advanced lead-acid, flow, and molten salt batteries, the path toward the commercialization of new battery chemistries continues. It expects several new advanced battery chemistries to become commercialized in the coming years.
Meanwhile, motive transportation energy storage needs will be met by commercially available Li-ion batteries during the next decade. The majority of batteries for grid-tied stationary energy storage will be Li-ion, along with a mix of advanced lead-acid, flow, and sodium sulfur (NaS) batteries. Sales growth for pre-commercial next-generation advanced battery (NGAB) chemistries in both sectors is not expected to accelerate until 2021-2025.
The report says lithium solid-state (Li-SS) is anticipated to be the first new battery chemistry for the transportation sector, and advanced flow batteries will likely be the first new technology for the stationary energy storage sector. Companies working to commercialize NGAB technologies that partner with well-funded Li-ion battery technology companies and energy companies will be at a strategic advantage.
Navigant Research anticipates that those that show progress toward commercialization will likely receive investment or will be acquired by the current leading Li-ion companies. In four to six years, these established Li-ion battery technology companies will be well-positioned to add technologies to their manufacturing, supply chain, and sales channels.
The leaderboard report comes as energy giants are investing billions of dollars in energy storage companies — deals that point toward a race to integrate power companies, according to a recent Lux Research report.
This year has also seen GE Ventures invest millions of dollars into German battery storage provider Sonnen and French energy giant Engie acquire an 80 percent stake in battery storage startup Green Charge.
Last year Total and Constellation Technology Ventures, part of electricity producer Exelon, invested in energy storage startup Stem.