US Senate Energy Storage

US Senate summons Benchmark for hearing: energy storage supply chains, impact on lithium, cobalt, graphite, nickel

Benchmark Mineral Intelligence will return to the US Senate in early February for a second hearing in 14 months on the supply chain for EV lithium ion batteries and the energy storage revolution.

Benchmark Minerals’ Managing Director, Simon Moores, has been summoned by the US Senate Committee on Energy and Natural Resources to testify on the lithium, cobalt, nickel and graphite supply chains for energy storage.

“The hearing will be held on Tuesday, February 5, 2019, at 10:00 a.m. EST in Washington, DC. The purpose of the hearing is to examine the outlook for energy and minerals markets in the 116th Congress,” the Senate announced.

Benchmark Minerals’ Simon Moores commented:

“This is the second hearing in 14 months for  US Senate Committee on Energy and Natural Resources which is led by Chairman, Lisa Murkowski of Alaska – this is significant progress.”

“The highest level of US government is taking the risks to its future automotive and energy industries seriously. With the rise of electric vehicles (EVs) and the true arrival of battery storage as part of the energy mix, those that have low cost, abundant supply of quality lithium ion batteries will be ahead of the pack.”

“Right now, China is leading the build out of this lithium ion battery capacity and Benchmark Minerals now forecasts the country to have 68% of global capacity by 2028 while the US presently sits at 11%.”

“The other key factor in controlling this industry is securing supply chains for lithium, cobalt, nickel and graphite anode materials. This is not just about low cost, high volume mining but key skills and know-how to produce chemically engineered battery grade chemicals – commodities for the 21st century,” Moores added.

A Live Webcast of this hearing can be viewed here.

About Benchmark Mineral Intelligence

Benchmark Mineral Intelligence is the world’s leading voice and most trusted provider of independent price assessments for the lithium ion battery and electric vehicle (EV) supply chain.

Benchmark is known globally for setting the lithium industry’s reference price which is relied upon to negotiate contracts between actors in the industry, including lithium extraction operators, to cathode manufacturers, battery cell producers and automotive OEMs.

Benchmark’s Lithium Price Assessments and analysis is also relied upon by the financial community to aid critical investments into the lithium ion supply chain.

The company also produces regular price assessments on cobalt chemicals and graphite anode and also assesses lithium on battery megafactory capacity build out.

The EV and battery cell supply chain is Benchmark’s sole focus and speciality.

Benchmark also provides forecasting and consultancy services that are relied upon by a wide range of customers from governments, electronics manufacturers, EV makers, battery cell producers, and lithium miners.

To complement its publishing activities, Benchmark has created the industry’s leading platform to discuss the subject – The Benchmark World Tour. Benchmark also hosts Benchmark Minerals Week consists of two main conference, Graphite & Anodes and Cathodes, and is the world’s meeting place to negotiate deals and network.

Benchmark’s price data, insight, and understanding of the subject is unrivalled and culminated in being summoned to the US Senate to testify in 2017. In addition, Benchmark has been invited to give guest lectures at the University of Oxford, Stanford University and advise the UK Government.

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Our suite of price assessments and market intelligence services includes:

  • Lithium Price Assessments :Trial here
  • Cobalt Price Assessments :Trial here
  • Graphite Price Assessments :Trial here
  • Lithium ion Battery Megafactories Assessment: Trial, email [email protected]
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  • Forecasts and Consulting: Email Andy Leyland, Head of Forecasting for more: [email protected]

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