Volta Energy Solutions (VES), developer of the world’s first electro-deposited copper foil for batteries, is now penetrating the North American market. VES has started to build a new battery copper foil plant in Quebec, Canada, this year to fill the battery copper-foil vacuum in the North American electric vehicle (EV) supply chain.
With the rapid growth of the EV market, global companies are scrambling to enter North America to complete the battery supply chain. Global automakers such as GM, Honda, and Hyundai Motor and battery cell manufacturers are advancing into the North American market independently or through joint ventures.
The growth rate of the EV market in the US this year is projected to be higher than anywhere else. S&P Global Mobility’s 2024 global sales forecast projects battery electric vehicles (BEVs) to be on track to post sales of 13.3 million units worldwide for 2024, and the BEVs’ share in the US will be 13.2%, up by 66.4% from last year — far exceeding the average year-on-year growth rate of BEVs’ share of the global market (39.5%).
The demand for copper foil, a battery material, is expected to see a substantial increase by 2030. According to SNE Research, a battery market research firm, the demand for copper foil for secondary batteries will be 490,000 tons this year and 2.07 million tons in 2030, rising by an annual average rate of 27%. The size of the market is projected to expand from USD 2.61 billion in 2021 to USD 7.47 billion in 2025.
Manufacturers of EV battery materials are racing to establish a presence in the North American market. VES has already started to build the first battery copper-foil plant in Canada. It established Volta Energy Solutions Canada (VESC), a Canadian subsidiary, in 2022 and began construction of the plant this year, aiming to enter operation in 2025 with an annual production capacity of 25,000 tons.
VES’s copper-foil technology for EV batteries originated from its European subsidiary, Circuit Foil Luxembourg (CFL). Established in Luxembourg in 1960, CFL is a copper-foil manufacturer with a history of over 60 years. Its copper foil technology has been recognized worldwide, and is widely adopted in high-tech IT industries such as PCBs for AI semiconductor, telecommunication equipment, and autonomous driving sensors.
Ultra-thin copper foil, about two to three micrometers thick, are manufactured by only two companies in the world, CFL and Japan’s Mitsui, proving the unrivaled nature of CFL’s technology.
CFL developed the world’s first copper foil for batteries in 1996, and submitted multiple patent applications in Canada, the US, and Luxembourg. In 2020, the company successfully initiated the mass production of copper battery foil at its Hungary plant, the only battery copper-foil manufacturer in Europe.
With this original technology legacy and product recognition, VES is currently supplying battery copper foils to various global businesses in the US and Europe. It has signed supply contracts with automakers in North America and the Automotive Cells Company (ACC), a European battery manufacturer established jointly by Mercedes-Benz, Stellantis, and TotalEnergies. Its customers also include Korea’s world top battery cell companies, such as LG Energy Solutions and SKON.
A VES official said, “Automakers in North America are striving to secure stable supply chains before the EV market matures, and we are dedicated to stabilizing the regional supply chain through our battery copper-foil plant base in North America and promoting the regional economy.”
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Filed Under: Batteries, Technology News