“From Raw Material to Next Generation Advanced Batteries”
“From Raw Material To Next Generation Advanced Batteries” Marina Yakovleva Global Commercial Manager for New Products and Technology Development AABC Europe - - January 30, 2017 FMC Corporation Financial Overview Ending December 31, 2015 ($ millions)
Revenue: $3,277 | Adjusted EBIT: $519 | Adjusted EBIT Margin: 15.8%
2015 Revenue
7% FMC Agricultural Solutions 24% Revenue: $2,253 EBIT: $364 EBIT Margin: 16.1% 69% FMC Health and Nutrition Revenue: $786 Revenue by Region EBIT: $195 EBIT Margin: 24.8% Asia Pacific 23%
Latin America FMC Lithium 30% Revenue: $238 EBIT: $23 Europe, Middle EBIT Margin: 9.7% East & Africa 19%
North America 28% 2 FMC Corporation Business Segments
FMC Agricultural Solutions FMC Health and Nutrition FMC Lithium
• Three major crop protection • Supplier of microcrystalline • Producer of lithium carbonate, categories: insecticides, cellulose, carrageenan, lithium hydroxide, and herbicides and fungicides alginates, natural colorants, and butyllithium omega-3 • Products used in high-value crop • End-use applications include segments, control a wide • Renewable, naturally derived energy storage, polymer and spectrum of pests and target a ingredients that have high pharmaceutical markets and large variety of difficult-to-control value-added applications in the other industrial markets weeds production of food, pharmaceutical, nutraceutical • Developing Plant Health and other specialty consumer platform that include biologicals, products seed treatments and micronutrients
3 About FMC Lithium Sales Mix
Energy FMC Lithium is all about energy. Since 1991 we’ve been a Storage Polymer 28% global supplier of lithium for energy storage. Our lithium 24% was in the first rechargeable battery. Today our products help batteries run stronger and last longer, with fewer charges. Everyday we search for ways to make batteries better to meet our world’s growing demand for tablets, phones, power tools, EV cars, even power plants. Industrial Synthesis 30% (Pharma) 18%
Revenues: $238 million* Revenue by Region
Latin America Products: 2%
carbonate, hydroxide, chloride, specialty Asia Pacific inorganics, metal, organometallics EMEA 53% 17%
Global Operations: Six manufacturing facilities in six countries
North America *2015 Data 28%
4 Unique Brine Technology Shortens Brine-to- Carbonate/Chloride Conversion
Fenix Plant: 4-9 months from beginning to end Adjacent Lithium to Antofagasta or carbonate plant Buenos Aires
Brine from Pre- Selective Post-evaporation to Guemes Lithium to Antofagasta lithium salar evaporation adsorption ponds chloride plant or Buenos Aires well ponds
5 FMC is the Leading Mine-to-Metal Producer in the World
Lithium Specialty Hydroxide Inorganics Li hypochlorite Argentina Lithium Lithium Carbonate Bromide Bessemer City, USA Lithium Brine Specialty Inorganics
Basic Lithium Lithium Metal Chloride
Butyl- Specialty High Purity lithium Organics Metals
6 FMC’s View of the Lithium Industry
Industry Sales Global LCE Demand Estimates ($B) CAGR 600 3.5
30% 500 3.0 Alloys 5% 52% 2.5 400
2.0 300 kLCE MT 1.5 17% 200
1.0 100
Glass, ceramics, construction 7% 0.5 and other conventional 0 applications 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 0.0 conventional applications portable electronics, ESS 2013 2014 2015 2016 2017 2018 2019 2020 transportation
• Electric transportation—mainly EVs and PHEVs—is expected to 2013: 135k MT ~ 140k MT LCE drive LCE demand at ~25% CAGR through 2025 2016: 170k MT ~ 180k MT LCE • Overall LCE supply is expected to be tight over the next few years; 2020: 270k MT ~ 280k MT LCE LCE supply for battery applications is likely to be tighter 7 Source: Published industry reports, FMC Estimates. FMC’s View of the Lithium Industry
EV, HEV, PHEV sales estimates EVs >30 kWh 35 EVs PHEVs HEVs (Li-ion) HEVs (non Li-ion) 30
25
20
15
10 MillionsCarsof
5
0 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025
• Globally, EV battery size (kWh) is expected to increase steadily and to utilize high Ni containing cathodes that require lithium hydroxide vs. lithium carbonate as a precursor • For over six decades, FMC has been the world leader in lithium hydroxide • Conventionally, lithium hydroxide has been used for grease and is now increasingly being used for energy storage applications • Supply from China has been rising in recent years • FMC recently announced tripling of lithium hydroxide capacity by 2019 • Market place delivery will start taking place in Q2 2017
Source: Published industry reports, FMC estimates. 8 FMC’s Product Portfolio: foundation for advancing energy storage solutions
Advanced anodes
LiOH High energy LiCl
cathodes Li2CO3 Li metal
Advanced electrolytes
• A culture of lithium innovation for more than half a century – Unmatched quality for battery grade product offerings – World's leading supplier from 1950 – Extensive knowledge and over 20 years of experience in high energy density cathode materials – Deep understanding of the technology trends and customer needs – Pioneer in advancing high capacity anode materials – Visionary position on the thin lithium anode manufacturing 9 Where are the Opportunities(1): HE Cathodes Effect of Higher Nickel on Increased Capacity
Any improvement to the specific capacity of a cell is proportional to the increase in performance at the battery pack level
Increasing the nickel content of the cathode either: • Reduces the size of the battery while maintaining the same capacity • Increases the capacity of the battery while maintaining the same size
*Lux Research
1Panasonic NCR18650 Specification Sheet Increasing Higher Smaller Pack 2”How Much Lithium Does a Li Ion EV Battery Really Need?” Meridian International Research, 5 Mar. 2010. Web. Ni content Capacity or More Miles 10 Does the precursor matter: LiOH*H2O vs. Li2CO3
For testing, FMC synthesized the following cathode materials (24 total): • NCM 523, 622, 71515, and 820 (50, 60, 70, and 80 mol% Ni)
• Using either LiOH and Li2CO3 • At temperatures of 800, 850, and 900 °C
Structural properties were evaluated and test cells were produced and cycled at various rates
Scanning Electron Microscope (SEM) Images of Lithium NCM 622 particles (~15-20 micron) synthesized at 900 °C
5000x 6000x LiOH-based Li2CO3-based
Nickel-rich NCM particles synthesized using LiOH have better physical characteristics: • Retains spherical morphology similar to precursor • Enables higher packing density • Results in smaller primary particles for higher rate capability 11 Effect on Structural Parameters
Improved Crystal Structure of NCM 622 Synthesized Using LiOH as the Lithium Precursor
Refinement of Lattice Parameters and Lithium Occupancy
4.963 LiOH 0.982 LiOH
0.981 4.962 LiOH 0.980
4.961 Li2CO3 0.979 LiOH
0.978 4.960 0.977
4.959 0.976 c/a Ratio c/a Li2CO3
0.975 4.958 Li2CO3 Li2CO3
0.974 LiOH Lithium Occupancy 4.957 LiOH 0.973 Li2CO3 Li2CO3
800 850 900 800 850 900 Temperature (oC) Synthesis Temperature (oC)
LiOH based NCM 622 has higher c/a ratio and higher lithium occupancy at 800°C and 850°C which will lead to enhanced lithium diffusion and therefore improved electrochemical performance
12 Effect on Electrochemical Performance: NMC622 For NCM 622, the advantage for LiOH is seen at all temperatures tested
NCM 622 – 800 °C NCM 622 – 850 °C NCM 622 – 900 °C
LiOH-based NCM 622 has 20% (800 °C) and 10% (850 °C) higher discharge capacity at 4C rate
At 900 °C, fade rate and C/10 recovery (first C/10 vs. second C/10 test) worsens, however LiOH-based material still shows better rate capability
13 Effect on Electrochemical Performance: Multiple NCM Compositions
For nickel-rich NCM, there is a significant performance advantage for LiOH-based materials
NCM 622 – 800 °C NCM 71515 – 800 °C NCM 820 – 800 °C
Higher capacity observed, with improvement more pronounced at higher discharge rates (i.e., C/10 vs. 4C)
At the highest nickel content studied (NCM 820), fade rate and C/10 recovery (first C/10 vs. second C/10 test) worsens, however LiOH-based material still shows better performance
14 Where are the Opportunities(2): Pre-lithiation
Application Method Pros Cons • Pre-lithiation mitigates irreversible capacity in high energy density electrode Slurry-based SLMP integrated All components and homogenously along with application process must be materials active, conducting and binder compatible with metallic – SLMP is an enabling material and technology that materials lithium allows integration of an independent source of lithium into the current lithium-ion systems, thus increasing Surface Application No need to make changes for Additional step and tools are energy density by 10% to 50%, improving calendar life the conventional or advanced required for SLMP integration and improving battery safety while allowing more electrode manufacturing efficient use of lithium resources, thus ensuring equipment and process sustainable future for the battery industry. – 100 kg of SLMP is sufficient to achieve 10% energy density improvement in one million 18650 computer Spraying Homogeneous SLMP area Solvent and stabilizers are batteries loading required to maintain uniform SLMP distribution • SLMP is the most cost-effective gravimetric and volumetric source of Li-ions! Thermal Spraying Homogeneous SLMP area Low vacuum tools, unknown loading and thermal cost implication activation in one step
Coating Homogeneous SLMP high Solvent and in-line coater are area loading required
Roll-to-roll Compaction Small tool footprint; Engineering of the tool is simultaneous double side required coating and powder lamination
Dry Sieving Small tool footprint; no Powder static needs to be solvent medium, minimal addressed capital investment
Courtesy of LBNL 15 Where are the Opportunities(3): Rechargeable Li Anode
• Market demands higher energy density devices for automotive and other applications Key Drivers • Technology is being rapidly developed with significant private and government investments • Li metal anode is the key to success of the Solid State Battery technology
• 40 years of foil extrusion know-how FMC Key • Commercial relationships with the key players in industry Competencies
Technology Product Definition Manufacturing Pros Cons
2 High purity ultra- thin films on a Low throughput, Vacuum deposition <20 micron Pilot ready Path 1 variety of high cost substrates,
<50 micron 1 Needs Commercially With substrate, New CapEx Ink-jet Printing development for Proven fast Path 2 including required LIB use process prelithiation
on a Cu or other 3 Non-uniform Electrolytic substrate Ability to control Pilot ready loading , current Path 3 deposition (including deposition collector corrosion prelithiation)
16 Summary
• Industry continues to stay on the path of increasing energy density of Li-ion batteries through incorporating high Ni-containing cathode materials and progressively increasing utilization of the Si containing materials in the anode – FMC is well positioned to support advancing of the next generation batteries’ technologies: • Capacity expansions of the strategic lithium precursors • Alliance with customers to support internal and external technology roadmaps • Application development to support numerous pre-lithiation strategies • Visionary approach to enabling lithium metal-based battery chemistries.
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