Barrel Energy, a leading company in new energy battery metals, will open a technology center in Las Vegas, Nevada, for the development of electric vehicle batteries, the company announced this Monday.
Firstly, the facility is aimed to strengthen Barrel’s green energy products and development portfolio, among other technology efforts. Also, it will serve for Barrel’s ambition to take advantage of the growing electric vehicle demand.
Secondly, Barrel Energy recognized the current deficiencies; as well as the enormous margins of opportunity if the ion-battery issue was tackled within the company. With this rationale, Barrel will add itself into the lithium-ion battery supply chain.
Consequently, Barrel Energy will be able to leverage upon the coming dominance of the zero-emission vehicles; and to supply companies like Tesla, GM, Ford, Apple, among other that are currently leading the EV market.
In addition, the new tech center, to which an investment figure was not disclosed, will be focused primarily to lithium-ion battery metal recycling; as well as potential battery development, also to direct metal ion extraction.
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Barrel Energy with the objective to become lead for the EV market
Therefore, “Barrel Energy intends to immerse itself into the key materials and technology that will underpin this decades coming surge in EV dominance,” company’s statement reads.
In addition, “a section of the center will develop support and on-site innovative I.P. efforts as Barrel finalizes its discussions with a number of next-level software and related technology partnerships.”
The company focuses on exploration and exploitation of new energy sources; it is also focuses on the development of new energy battery materials; as said above, such as lithium, cobalt and graphite.
in conclusion, the company is seeking a robust portfolio in the electric vehicles market. Finally, through True Grit Resources, the company has presence in Arizona thanks to a participation in True Grit’s L.G. Lithium in-Brine Project.