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A lithium-ion or Li-ion battery is a type of rechargeable battery that uses the reversible intercalation of Li + ions into electronically conducting solids to store energy. In comparison with other commercial rechargeable batteries, Li-ion batteries are characterized by higher specific energy, higher energy density, higher energy efficiency, a longer cycle life, and a longer calendar life.
These batteries exceeded their projected 5-year life expectancy by 14 additional years, totaling 19 years battery life in space. [ 9 ] In January 1991 Eagle-Picher filed for bankruptcy protection having over $2.5 billion in asbestos-related claims asserted against it, [ 10 ] [ 11 ] as well as other environmental claims.
In October 2011, AES Corporation unveiled a 32 MW energy storage systems featuring A123's battery technology at the Laurel Mountain Wind Farm in West Virginia to be used for renewable integration and frequency regulation. As of its commissioning date it was the largest lithium-ion battery energy storage system of its kind then in operation. [56]
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As of 2020, Albemarle was the largest provider of lithium for electric vehicle batteries in the world. [3] Albemarle, Sociedad Química y Minera, and FMC Corporation collectively produce just over half of the world's lithium and lithium storage products, while just under half is produced by China. [citation needed]
In 2006, Axeon, as a software company, began working with MPower, a manufacturer producing batteries for mobile phones and portable products. MPower was working on a battery to be used in electric vehicles and the Battery Management System, the software that monitors the lithium-ion cells, interfaces with the vehicle and ensures safety, was provided by Axeon.