“Solving hard problems that bring high-social value with an elegant solution”
Their ability to observe the battery at the molecular level makes it possible to create “a highly accurate battery management system that increases the usable capacity of a Lithium-Ion battery by approximately 20%, and doubles its life cycle,” O’Day adds. It’s a high percentage which the company intends to keep increasing.
The technological revolution of batteries
The ionView™ system works with most Lithium-Ion batteries, and this fundamentally changes the cost of stationary energy storage, as well as that for electric vehicles (EV) and consumer electronics. “With higher accuracy and control, we will significantly reduce the levelized cost of energy storage for transportation, consumer electronics and large-scale energy storage,” O’Day explains.
In addition to the performance and financial advantages, ionView also makes safer battery usage possible by observing and alerting to outgassing (the formation of hydrogen inside a battery cell) unlike than any other BMS. The system can then alert the operator and simply have those cells removed as part of standard maintenance avoiding potentially catastrophic failures. Furthermore, ionView decreases net greenhouse gas emissions associated with energy storage by almost half by simply extending the cycle life and thus reducing the number of new batteries needed.
Titan AES primarily operates in the USA, Europe and Asia, and it now has ongoing projects with multiple auto manufacturers, an energy storage leader and a battery manufacturer. O’Day explains: “Newly signed pilot contracts include a global consumer electronics manufacturer and a battery recycler. We expect rapid growth in the stationary storage and EV markets between now and the end of the year.”
A working relationship with a bright future
At Enel, thanks to our many collaborations and our recently opened Innovation Hub, we have actively engaged with the innovation culture of the Boston ecosystem. Through our involvement with Greentown Labs and Sander Cohan, Director of Innovation at Enel Green Power, we were able to hook up with Titan AES. After that, O’Day recalls “We developed a collaborative project opportunity with Enel and one of its technology partners.”
O’Day highlights Enel’s unique and unconventional characteristics: “Its innovation culture is refreshing, and is unusual for a traditional utility. Its ability and desire to work with early-stage technology startups has enabled us to expand towards global opportunities far sooner than expected. It has an allocated innovation budget and is ready to invest in early stage technology innovation projects: this is almost unheard of in the utility world.”
At the same time working with startups such as Titan AES is a breath of fresh air for Enel. Together, we have a shared objective: it is, in the words of O’Day, “To deliver commercially viable technology (ionView) to existing and future Enel projects.” Moreover, “this opportunity allows Titan to demonstrate its technology with a global utility company, while Enel gains a first-mover competitive advantage by implementing cutting-edge energy storage technology.”
The future of energy is around the corner and with Titan we'll be ahead of the rest of the pack.