Exxon says he invented a new graphite that could increase EV batteries

Exxonmobil, the largest oil and gas company in the country, says it has developed a more advanced form of graphite that could help extend the lifespan of electric vehicle batteries (EV).

CEO, Darren Woods, described the technology “revolutionary step change in battery performance” at the University of Texas at the Austin Energy Symposium on Friday. He said he was already tested by several electric vehicle manufacturers, reports Bloomberg.

This new synthetic graphite is used on the anode of a battery, its negative electrode which discharges the electrons. It could allow electric vehicles to charge faster and travel further on a single load.

“We have invented a new carbon molecule that will extend the battery life by 30%,” said Woods during the symposium.

It seems a little ironic that Exxon, which has long been criticized for having contributed to climate change and faces several state lawsuits to have allegedly deceived the public on the risks of fossil fuels, is now traveling in EV Tech. But it is not entirely surprising. The company has a long history of research and progression of alternatives of fossil fuels. For example, he actually invented the lithium-ion battery in the early 1970s.

“We do not make wind and solar energy, we have no problem with wind and solar energy, but we have no capacity in this space,” Woods told Symposium participants. “But we have the capacity to transform molecules, and there are huge opportunities in this space to use hydrogen and carbon molecules to meet growing demand.”

But the company generally pursues such projects that if it makes sense for its net profit. In August, Exxon said he could delay a low -carbon and ammonia hydrogen project due to the limited interest of customers.

Conversely, Exxon bet that EV batteries could be a good long -term investment. US EV sales may have plunged recently, but Exxon expects demand to increase over time.

“As in any market, there are short-term fluctuations,” said Dave Andrew, vice-president of the development of the new Exxon market, in New York Times. “But we fundamentally see the demand for batteries, electric vehicles and increasingly large -scale energy storage solutions increasing in the longer term.”

Most materials used in batteries come from China today. The production of graphite for batteries in the United States could provide political and financial advantages in Exxon, especially under the prices of the Trump era.

This week, Exxon announced that it had acquired several production and technological assets from Superior Graphite, based in Chicago. Exxon aims to develop manufacturing, with targeted commercial production for 2029.

“Synthetic graphite can play an essential role in the energy transition. It is a key component in electric vehicles and stationary battery energy storage solutions,” Exxon said in a press release. “We plan that the demand for higher performance batteries will continue to grow, which also increases the demand for higher performance graphite materials.”