Martinrea Announces Joint Venture With NanoXplore To Develop Electric Vehicle Batteries
Martinrea International announced its joint venture, VoltaXplore with graphene producer NanoXplore to develop electric vehicle (EV) batteries enhanced with graphene.
This joint venture will support the journey towards a sustainable, low-carbon future encouraged by the global and Canadian movements towards zero-emission EVs.
A VoltaXplore demonstration facility is scheduled to be opened in Montreal within the next year for the development and production of EV batteries enhanced with graphene. A successful demonstration of improved battery performance using graphene, along with positive feedback from our customers, will support the business case for the construction of a battery production facility in Canada.
“Martinrea is a strong supporter of graphene, helping to bring it to market in various ways,” said Pat D’Eramo, president and CEO, Martinrea International Inc. “We have been a long-time partner of NanoXplore and are excited to collaborate on enhancements graphene will bring to battery technology. Graphene will be a differentiator by improving charge time and vehicle distance, ultimately bringing solid state battery technology to market sooner. Combining our advanced lightweighting technologies with graphene-enhanced batteries is a big step forward in the EV space.”
Martinrea International Inc. began its partnership with NanoXplore in 2017, due to the capabilities of NanoXplore to produce graphene at high volumes and the superior strength and lightness of the material. With this joint venture, Martinrea International Inc. will be able to combine their expertise as a leading manufacturer of Lightweight Structures and Propulsion Systems in the automotive and industrial markets with NanoXplore’s position as a world leader in the science and production of graphene and graphene-enhanced materials.
“Graphene is an advanced material – light, flexible, strong, with excellent conductive and cooling capabilities,” said Rob Wildeboer, executive chairman, Martinrea International. “We believe graphene-enhanced batteries will create a superior solution, and through our partnership with NanoXplore and our combined experience and expertise we are excited to develop this new offering.”
Martinrea International and NanoXplore will each initially invest $4 million into the joint venture as start-up capital and to support the construction facility, with each committed to provide up to an additional $6 million in development funding if, as and when required.
