(Image via Extreme Vehicle Battery Technologies Corp.)
One Company in the red-hot battery technology space is bringing to market an AI driven technology to fix the world’s greatest problem associated with today’s batteries AND is bringing a patented disruptive battery management system to market that will revolutionize batteries forever.
That Company is
Extreme Vehicle Battery Technologies Corp. (“EV Battery Tech” or “ACDC”) (CSE: ACDC, FRA: EVBT, Forum) and its platform can, among other things, utilize applied and interfaced Artificial Intelligence (AI) with a proprietary Battery Management System (BMS) that “learns” and improves in real time.
However, the team at EV Battery Tech doesn’t just want to make a new state of the art battery, they want to revolutionize the way battery solutions are manufactured. While the patented BMS will make batteries last longer, more efficient and have the ability to be monitored and maintained remotely, one of the greatest features of ACDC’s technology is that they are able to use
recycled batteries in their manufacturing process! While most batteries are scrapped and sent to the junkyard after they fail, ACDC applies their AI driven technology to used batteries to restore and then re-use them in the production of their new batteries.
The Company is going to focus its efforts on the following markets:
- Electric Vehicles (EV)
- Energy Storage Systems (ESS)
- Smart Grid & Charging Systems
- Blockchain Infrastructure
- Battery Recycling
EV Battery Tech is entering the Battery Management System market, which is set to grow to $24.83 Billion by 2027, according to Allied Market Research.
The world is transitioning from fossil fuels to Renewable Energy, which requires smart and scalable energy storage. By 2024, it is projected that energy storage capacity will have to grow
12-fold reaching $5.3 billion in the United States alone according to Wood Mackenzie Energy Storage Service. In fact, the World Bank says energy storage capacity will need to grow
40-fold, in emerging countries.
The world is also transitioning from combustion engines to Electric Vehicles, which require longer lasting, more efficient batteries. The International Energy Agency forecasts 125 million Electric Vehicles by 2030. This is a
25-fold increase in EVs in just the next 10 years.
With such rapidly growing demands for batteries, exponential developments are required to existing battery technologies to power our evolving world and EV Battery Tech believes it is on the cutting-edge of this development.
Stockhouse Editorial caught up with the Company’s President and Chief Executive Officer, Bryson Goodwin, to find out more.
- Thank you for joining us. From Blockchain to EVs to ESS, there is a lot to unpack from your investment proposition. For those who are new to EV Battery Tech (ACDC), can you explain the opportunity that lies within the transformative technology with which you are planning to enter the North American market?
Thank you for having me, I am excited to be here to discuss our new business. We will be entering the North American market with what we believe to be the most disruptive battery technology in the industry. We are bringing a patented BMS, or Battery Management System, to the North American market that was created by a patented AI algorithm that poured through nearly a decade of battery data. The technology analyzed the shortcomings of the batteries used in today’s market and created a BMS that allows for longer battery life, more efficient power management, real-time monitoring and remote maintenance. We are literally entering one of the fastest growing mega-billion-dollar marketplaces with a game changing battery technology. While there are several fantastic companies out there attempting to achieve similar endeavors, there are two important elements that separates us from the pack. First, we are a Blockchain technology Company, so we are able to apply our proprietary technology to Batteries. Secondly, our patented AI technology allows us to analyze and reuse useful cells in discarded batteries, which makes recycling used Batteries a part of our manufacturing process. So, we are poised to disrupt the EV and ESS markets and revolutionize the way Energy Storage Solutions are manufactured. There are so many verticals that our unique Blockchain and Battery technology applies to, but we intend on focusing on the EV and ESS markets while also focusing on the environmental aspect of the Company.
- This patented AI system for recycling has immense implications, what can you tell us about it?
Personally, I believe that it is the responsibility of each person to make a conscious greener effort. Not just for future generations, but for ourselves! We get one planet, and overwhelming scientific data shows us that we are failing it and the consequences are going to be catastrophic if we don’t change our habits in a hurry. This is why I am proud to be leading a Company that not only creates products that are vital in the revolution of making the massively polluting automotive and energy industries greener, but also by pioneering a manufacturing process that directly recycles used batteries. The recycling applications of this tech are impressive, but it is easy to be impressive when you take something that is currently landfill and turn it into a useful product that contributes to the green revolution. Starting on Day 1, we will be working on bringing in recycled batteries to be used in our ESS manufacturing process.
- So recycled batteries play a role in your systems after their life has expired thanks to AI? How is this possible?
Through various joint ventures, we will be taking in batteries that have reached the end of their lives. We then apply our AI technology and patented BMS and use them in our state of the art ESS systems. You see, our AI technology has determined that most batteries still have upwards of 70% useable battery cells. Batteries as we know them, are made up of many, many cells. This means batteries are thrown out, even though there are many perfectly workable battery cells. This is not only very inefficient; it has terrible effects on our environment. Our technology enables us to use the workable cells in NEW batteries and then apply our BMS to create a super battery with all the bells and whistles, even though the battery cells are recycled!
- Wow, that’s impressive! You mentioned you will have real-time monitoring and remote maintenance features, which are essentially non-existent today. Can you tell us more about these features?
The ability to fix issues remotely will be a huge benefit for so many remote communities and corporations. Imagine a battery storage set-up in a remote mine, remote renewable energy operation, or specifically here in BC, a remote hydro tower. In all these circumstances, technicians are required to fix any issues. This is very expensive and in most cases by the time you to fly a unionized team out to the location in a helicopter, it is usually less expensive to just buy a whole new battery pack! By contrast, imagine real-time monitoring to be ahead of any issues before they even arise and when they do you, you are able to fix the problems remotely. Think of the savings to these communities and companies. Our technology will make this happen.
- So, they hold more power, charge faster, can be recycled, how about a rundown of this battery technology and a look at what makes it superior to what is available today?
As the name suggests, this is all about Battery Management. Simply put, a BMS is a system that manages rechargeable battery cells by monitoring its state, calculating, reporting, controlling and balancing the flow of power. Whether this is for laptop, a vehicle or a heavy-duty mining operation, the BMS manages how all this works. Most systems that are currently in use are based on dated technology and when a certain series of battery cells fail, the whole battery fails, even though the majority of the battery cells are still fully functional. Our BMS is “smart” and thinks in real time to avoid any failed cells and re-route power to ensure the battery remains operational. In addition to that, the BMS system maximizes efficiency over the life of the battery, which means that even though the patented BMS does not make the battery “hold” more power it “delivers” more power in a more consistent manner for a much longer period of time than today’s batteries. As you can imagine, this will also allow for faster and more efficient charging and more accurate readings on the remaining life of the battery, so you don’t have EV drivers stranded on the side of the road and don’t have remote operations shutdown for extended periods of time.
The recycling aspect applies to all lithium ion batteries and it is a form of recycling commonly referred to as “upcycling”. There is a safety review and repair process involved, but essentially, our technology allows us to turn waste into a state-of-the-art product.
As far as market competitors go, currently we appear to be the only company with these characteristics.
- Looking at the AI side of things, the BMS appears unique and can adapt to how it is used, what differences will people notice when it is applied?
There are many, many unique differences, but likely the most noticeable aspects are the benefits associated with real-time monitoring and remote maintenance. These benefits are obvious and take immediate effect. Better efficiency and longer life will be more evident to customers over the life of the battery.
AI allows the BMS to learn and adapt to environmental changes and constantly reviews individual cell performance in real-time to maximize life and performance.
I am also hopeful that our customers and all the other stakeholders in our Company notice the immediate environmental impact our batteries will have and how revolutionary our ESS manufacturing process is.
- You keep mentioning real-time monitoring. Can you give me some detailed advantages of having real-time monitoring?
One huge difference will be to have a more accurate reading of the battery life and the ability to prolong the life of the battery. We were amazed by the fact that so many batteries were replaced in some cases because of a single faulty cell. We can fix it, isolate it, or tag the cell for possible removal at a later date. This does not affect performance or result in any downtime. In most cases the client won’t even know, and the system will just carry on.
The other more obvious benefit is the real-time collection of the meta data. Collecting this data will allow us to feed it into our AI technology to continually be improving our technology for future iterations. Getting better everyday is the only way to stay ahead of the competition.
- Blockchain technology and Meta Data are two mega-billion-dollar industries on their own. How do those technologies fit into EV Battery Tech?
EV Battery Tech was originally founded on Blockchain technology. The technology was used in financial transactions and verification software. Once we deliver our batteries to clients, we collect metadata in every application. We use it to not only provide real-time monitoring services, but we also use it to “teach” and improve our AI technology to create better and better iterations of our products each year. Metadata gives us the ability to always be better and deliver better results.
The second component to metadata is VALUE! Our system will be applied to numerous recycled batteries in various ESS applications in a multitude of environments and applications. We will literally be the only company capable of this and our system will capture individual cell performance in real time over years. This data has immense value to both the originator of the battery and their competition.
We find it important to note, that as our system is AI Integrated, we cannot record certain sensitive client aspects related to usage or destination and we can store data in a cloud location of their choosing with 100% privacy control.
- On October 1st, the Company announced that it had signed a definitive agreement with Intelligent Battery Technologies Ltd. and Jiangsu RichPower New Energy Co. Ltd., tell me more about them?
We could not be happier to be partnered with IBT and RichPower. RichPower developed and patented the technology in Asia, which is the world largest market for batteries. They have several mega-factories and an amazing following. We are bringing this technology to North and South America together and they have granted our Company
exclusive rights to their technology for these markets. We also have the rights to bring this technology to Europe and Africa.
I pride myself on building companies with strong teams. I am very proud to say that this is one of the best teams I have ever worked with and I believe that together we are going to be a very big success and revolutionize the global Battery Market.
- Renewable Energy ESS sounds like a “wave of the future”, how would you describe what this means for the future of industries around the globe?
The key to the future of “Green Power” lies in the technological advancements of batteries. We have seen everyone from Bill Gates to Elon Musk talk about this and invest billions of dollars in its pursuit. This is why our Company is so exciting, as we are on the cutting edge of this technology. Whether it be the shift from combustion engines to EVs or the move from fossil fuels to Renewable Energy, nothing is possible without battery technology. Right now, even the best EVs are a gamble if driven outside the city, where charging stations are only just starting to appear. Clearly there needs to be longer lasting and more efficient battery technology for electric vehicles. How about renewable energy? Most people do not comprehend the waste associated with renewable energy. Solar works during the day, but not at night. Tidal delivers massive energy, but only small windows. Wind turbines are great when the wind blows, but useless when it does not. This is what we call “intermittent power generation”. The intermittent nature of renewable energy means that it is not consistent and cannot be relied upon when the sun isn’t shining and the wind isn’t blowing. That’s where back up batteries are an absolute necessity. Our state of the art BMS and AI Integrated “smart” ESS products will deliver the technology and optimization that these industries have been waiting for. Whether it be by reducing renewable power curtailment, relieving transmission congestion or achieving full utilization of renewable energy sources, our technology will be part of this green revolution.
- ACDC looks like it will be hitting the North American market hard out of the gate. As you have just begun this journey, where do you see the Company in a year? How about in the next five years?
We were blessed to be partnered with a Company that has generated such a revolutionary technology that takes many years and many millions of dollars to develop. So, we plan on taking this technology and making a strong impact on both the EV and ESS markets in the first year. This will begin with customizing the technology for the North American market and then focusing on large clients to build the greatest awareness and collect the greatest amount of metadata.
We have a better solution at a better cost than our competitors so I believe we will achieve significant revenues in the first couple years and become one of the largest players in Battery market in less than 5 years.
We are in this for the long run, so it is not just about revenue targets. We are here to make drastic improvements to battery technology and revolutionize the way ESS is manufactured. Hopefully in the next 5 years we will be a household name known for exactly those things.
- Thank you for joining us today, anything further to add?
Sure, given the serendipitous nature on how we took this venture public, we have given shareholders have an unheard-of opportunity to get involved in a startup, especially at this stage and price. These opportunities are usually reserved for venture capitalists and never apply to the public. In our case we did not want 1 or 2 shareholders calling all the shots behind the scenes. We wanted a diverse base of individual shareholders as “partners” participating in the spectacular potential represented in our tech and give everyone an equal opportunity to get in on the ground floor. We look forward to sharing our success with all our shareholders and stakeholders in the years to come!
FULL DISCLOSURE: This is a paid article produced by Stockhouse Publishing.