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Honeywell’s UOP—a major international supplier and licensor of technology for petroleum refining, gas processing, petrochemical production and major manufacturing industries—has also been an early leader in developing technologies for the production of renewable drop-in hydrocarbon fuels. That’s a big sum. Earlier post.)
The development of this resource offers an abundant, low-cost supply of critical raw materials for EV batteries and wiring including nickel, cobalt, copper and manganese, with a lower lifecycle ESG impact than conventional mining. We looked at over 100 companies, many of them in the EV and renewable energy space. Source: DeepGreen.
As noted in a recent report by the International Renewable Energy Agency, polymetallic nodules can “substantially change the supply outlook for several critical materials,” including nickel and cobalt.
The supply of metals like cobalt, copper, lithium, and nickel needed for batteries is already shaky , and soaring demand for the hundreds of millions of batteries in the coming decades is likely to trigger shortage and high prices. China processes about 80 percent of battery raw materials, creating a chokehold on global supplies.
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