Nickel-based technologies

Nickel is a critical ingredient in the lithium-ion battery cells that power most EVs in the USA. Elon Musk famously offered a “giant contract for a long period of time” to any companies able to mine and supply nickel in a sustainable manner, stating that Tesla batteries are nickel-graphite batteries with lithium being just the “salt on the salad”.

The emergence of electric vehicles is set to revolutionise the world of transportation and the market is growing rapidly. The sales of electric vehicles jumped from 450,000 in 2015 to 2.1M in 2020 and is forecast to increase to 54M by 2040. Tesla is working to increase this penetration at a faster rate by producing more energy efficient models. As a metal with a high energy density, Tesla’s new battery technology is enabled by nickel.

83% of companies say that AI is a strategic priority for their businesses today. Most electronic-based AI will depend on a stable flow of nickel as the main heating element and resistor. If the heat-resistance property of an existing nickel alloy gets implemented, the fuel efficiency of an aircraft or of a thermal power generation plant can be improved and CO2 emissions can be reduced. With the help of AI, there is potential for superior nickel alloys to be utilised faster, with accompanying environmental improvements.

Nickel is a key component of most major sustainability products and industries, including: batteries, wind turbines, solar cells, bioplants, carbon capturing and storage of nuclear power, to name a few. It is an essential metal in the fight against climate change. Most hydro-electric power systems have dams that feed turbines to generate the electricity. Nickel is used in these systems for some key components and according to the IEA the capacity is expected to grow 70% by 2040, mostly in the Asia Pacific region.

Driven forward by emerging research, nickel-based alloys are increasingly used in aerospace engineering due to their magnetic properties. Nickel alloys are also used to make turbine blades and other engine parts because they provide excellent corrosion-resistance and resistance to wear. The aerospace industry is expected to grow at a rate of 7.7% in 2025, reaching a total of $573.6 billion by 2030.