Exxon Mobil Corp. has announced a synthetic graphite material that the company claims can extend the battery lifespan of electric vehicles.
Exxon’s announcement hands a boost to the electric vehicle industry as it becomes a supplier of a new synthetic material capable of solving critical challenges in the industry
From oil to EV materials
Exxon Mobil Corp. is making a big splash in the electric vehicle (EV) supply industry with the announcement of a synthetic graphite material that it claims can extend EV battery life by up to 30%.
The company’s Chief Executive Officer, Darren Woods, unveiled the innovation on Friday at the University of Texas at Austin’s Energy Symposium, describing it as a “revolutionary step change in battery performance.”
Exxon said that the new carbon molecule is already being tested by several EV manufacturers. This material could allow for faster charging, longer lifespans, and extended driving ranges in electric vehicles.
Exxon intends to secure its supply chain and has already acquired production assets from Chicago-based Superior Graphite earlier this week. The company plans to scale up manufacturing of the material and is aiming for commercial production by 2029.
Exxon insists that it does not intend to become a battery maker, but the company sees this as an opportunity to leverage its network of refineries, chemical plants, and research laboratories to support the development of clean energy.
“We don’t do wind and solar, we have no issues with wind and solar, but we don’t have capability in that space,” Woods said. “But we do have capability of transforming molecules and there are enormous opportunities in that space to use hydrogen and carbon molecules to meet the growing demand.”
The company has hinted at plans to enter the lithium extraction business as well. The company has a history in the industry. It invented the lithium-ion battery in the 1970s, produced the plastic film for the first rechargeable version in 1991, and developed new separator materials for batteries nearly two decades ago.
Exxon backtracking on its hydrogen ambitions
Exxon’s inclusion of hydrogen as part of its energy transition strategy began around 2018–2021, but the company has had research ties to hydrogen going back at least to the early 2000s.
The company has warned that its planned low-carbon hydrogen and ammonia project in Baytown, Texas, may face delays due to weak customer demand.
The regulatory environment is also currently a hindrance to the company’s plans. Woods stated that the shortened timeframe for claiming hydrogen tax credits under President Donald Trump’s “Big Beautiful Bill” could slow the market’s development.
“Our big concern today around low-carbon hydrogen is whether there’s enough time within that bill to incentivize the development of the market,” Woods said. “We can’t do it on charity.”
The smartest crypto minds already read our newsletter. Want in? Join them.
Source: https://www.cryptopolitan.com/exxon-faster-charging-graphite-tech-for-evs/
