[C Tech Now] "Korea, If We Don't Develop Sodium-Ion Batteries, China May Take Over the Market" - Ha Young-gyun, CEO of Energy11

"If we don't conduct research and development (R&D) on sodium-ion batteries now, we risk losing the mid-priced electric vehicle market in India, Southeast Asia, and other regions to China."

On the 17th, at the Bizmarket headquarters in Yongsan-gu, Seoul, Ha Young-gyun, co-CEO of Energy11, emphasized that sodium-ion batteries have sufficient market potential in the mid-priced electric vehicle market. As the global electric vehicle market rapidly becomes mainstream, not only developed countries like the U.S. and Europe but also developing countries such as Southeast Asia and India are accelerating their transition to electric vehicles. Ha stressed that sodium-ion batteries could be an alternative to lithium-ion batteries in this market.

Hayoungkyun, CEO of Energy11, is holding a finished sodium-ion battery developed in-house at the headquarters in Wanju, Jeonbuk.

On that day, Ha was busy preparing for a meeting with JWS, a comprehensive steel company in India, along with executives from Bizmarket, the major shareholder. According to Ha, major Indian conglomerates are showing strong interest in Energy11. He said, "We are discussing with leading Indian companies to conduct R&D in Korea and manufacture locally in India."

Ha founded Energy11 in 2020 after winding down his previous business. He decided to start the business after noticing a significant increase in the number of research papers on sodium-ion batteries, a field he had been interested in for some time. He secured patented technology from Cheongju University and Chonnam National University and received support from Bizmarket CEO Heo Tak, with whom he had a good relationship.

"In 2020, I saw that the number of sodium-ion battery papers reached 2,500, surpassing those on lithium-ion batteries. Considering that R&D typically leads by about five years, I thought the sodium-ion battery market would blossom in three to four years."

After about four years of R&D, Energy11 was able to develop a commercial-level sodium-ion battery. They aim to start mass production by June next year. Currently, a pilot line is operating at their factory in Wanju, Jeonbuk, where finished products are being produced. Initially, the batteries will be released in pouch form, with prismatic types planned for the future.

The cathode materials are supplied by EcoPro BM, and the anode materials are imported from Japan's Kuraray. Additionally, Energy11 has developed solid electrolyte technology in-house and filed a patent. Converting the liquid electrolyte used in batteries to a solid form can enhance safety. Energy11 also plans to release all-solid-state sodium-ion batteries using solid electrolytes.

Ha sees the main demand for sodium-ion batteries in energy storage systems (ESS) and small mobility sectors. The ESS sector particularly values price and fire safety, highlighting the advantages of sodium-ion batteries. He is especially optimistic about the growth potential in the small mobility sector. Ha explained, "The three-wheeled vehicles (commonly called tuk-tuks), a common mode of transportation in India, are rapidly transitioning to electric vehicles. Sodium-ion batteries, which perform better than lead-acid batteries and are cheaper than lithium-ion batteries, can be a viable alternative."

China and India’s interest in sodium-ion batteries is also aimed at this small mobility market. Ha emphasized, "Korea focuses on whether the technology is the best, but China moves based on the market. Korean companies should not miss out on the electric vehicle markets in India and Southeast Asia." Since sodium-ion batteries can use existing lithium-ion battery production facilities, domestic companies can enter the market with minimal investment.

The performance of sodium-ion batteries is also improving. Ha stated, "The capacity of cathode materials currently being developed for sodium-ion batteries has reached about 90% of that of ternary lithium-ion batteries. Soon, they will surpass the performance of lithium iron phosphate (LFP) batteries." Battery cells are a challenging area for small and medium enterprises because it requires integrating various ecosystems such as cathode, anode, separator, and electrolyte, as well as discovering demand markets. Ha always keeps the door open to partners, which is why he publicly shares his mobile phone number on the Energy11 website.