LG Chem has announced a $1.9-million startup contest it calls The Battery Challenge. The competition is intended as a springboard for new concepts and partnerships in four categories: Battery Material, Battery Management and Control, Design, Manufacturing and Processing and Recycle and Regeneration. Applications are being accepted until November 2.
Teams must submit business plans and pitches for thorough scrutiny and screening. Eight finalists will be chosen for Demo Day in Silicon Valley in February 2019. Each will receive $1.9 million in funding and enter a partnership with LG Chem to further its projects. The challenge is part of a larger company trend to rapidly advance many battery technologies, including low-cobalt batteries, lamination and stacking, and compact mobile energy storage.