Size of Solid-state Battery Players

Part
01
of four
Part
01

Sidhu Labs Competitive Analysis

Sidhu Laboratories continues to make progress in its high-performance solid polymer electrolyte (SPE) development, while the growing interest for solid-state battery technology is advancing the development of the SSB market, which brings together ambitious competitors.

Solid Power, Inc.

  • Based in Louisville, Colorado, Solid Power is a solid-state battery (SSB) startup. Like many other competitors, the company is focused on supplying the electric vehicle (EV) market, a rapidly growing industry. Solid Power has partnerships with automakers, including BMW Group and Ford Motor Company, and is making moves to separate itself from other players. In August 2019, the company had reached its next phase of SSBs commercialization plan through an in-house production facility and prepared to sell its batteries not only to EV companies, but also in the pharmaceutical, defense, and oil & gas sectors.
  • Solid Power has a working prototype of an all-solid-state, rechargeable, lithium-metal battery (ASSB). This type of battery eliminates the use of liquid electrolytes and separators, which tend to be the most flammable elements of today's lithium-ion batteries.
  • Solid Power is considered a direct competitor to Sidhu Labs because both companies are actively researching and developing solid-state batteries for the EV market. Solid Power and Sidhu Labs operate and target the North American industries likewise.

Excellatron Solid State, LLC

  • Excellatron Solid State, LLC, is a US-based technology company that is actively researching and developing revolutionary energy storage technology. The company is also manufacturing technology required for its cost-effective commercialization. Considered to be one of the key players in the SSB market, Excellatron's batteries characteristics include safety, high-temperature capability, long cycle life, and high rate capability.
  • In the past six years, Excellatron has been engaged in the development of production technology for TFB (thin film batteries). The thin film batteries developed by Excellatron have a long shelf life, an extensive cycle life, and are available on both ceramic and flexible polymer substrates. Potential markets for TFBs include smart cards, active Radio-frequency Identification (RF-ID) tags, and printed circuit boards.
  • Another technology developed by Excellatron is Lithium/Air (Li/Air) batteries. Recently, the company has fruitfully demonstrated the viability of a rechargeable Li/Air battery. Moreover, Li/Air demonstration samples have been successfully delivered to customers.
  • Sidhu Labs and Excellatron are key players in the SSB market and direct competitors, with the two companies involved in researching and developing SSBs.

ToCAD America, Inc.

  • ToCAD is a batteries manufacturer based in New Jersey. Since its founding, ToCAD has been actively researching and developing the ever-expanding electronics field, providing components such as rechargeable batteries. The company's annual revenues are $10 - $50 million.
  • The company provides service, support, and parts for several product lines, including tripods, filters, and digital imaging accessories, eneloop batteries and chargers, LensPen lens cleaners, and Panasonic alkaline and photo lithium batteries. ToCAD is currently manufacturing over 3 million battery packs per month for its customers. Still, the company centers its efforts on providing mobile power innovations and focusing on EV battery niche. The company has been a proven leader in the development of portable power products for a wide range of industries, including laptop batteries, cell phone batteries, or professional photo and video batteries.
  • Both Sidhu Labs and ToCAD are based in New Jersey and focused on battery manufacturing for portable electronics like smartphones, laptops, or tablets.

Invenergy, LLC

  • Invenergy, LLC is North America's largest renewable energy provider and develops, sets up, owns, and operates energy generation projects. The company operates in several industries, including Energy, Energy Efficiency, Finance, and Renewable Energy. Invenergy claims it solves the energy challenges facing its customers by foreseeing that clean power and renewable energy sources are the future. The company's annual revenues are over $500 million.
  • The company has more than 100 projects in development or operation across the U.S., Canada, Europe, Japan, and Latin America, and it is focused on innovative design and next-generation technology to create a new paradigm for energy production. A leading global developer and operator of sustainable energy solutions, Invenergy was managing over 10,000 megawatts of wind, solar, natural gas, and battery storage facilities, including 2,800 megawatts owned by third-parties.
  • Sidhu Labs and Invenergy are both actively researching and developing an ideal energy-to-cost ratio by utilization of low-cost materials. Furthermore, the two players are leading advancements in critical technical areas to overcome the hurdles facing next-gen energy storage solutions.

Cymbet Corporation

  • Founded in 2000 and based in Minnesota, Cymbet Corporation is a clean technology company that claims to be the leader in solid-state energy storage solutions for microelectronic systems. Cymbet's annual revenues are $1M - $10M.
  • The company's product, the EnerChip™ rechargeable battery, is a unique silicon-based solid-state device that works like a battery, lasts the life of the product, is small, thin, reflow tolerant for automated assembly. The eco-friendly device provides engineers with an array of new embedded power capabilities. Cymbet has two manufacturing sites for EnerChips Minneapolis, Minnesota, and Lubbock, Texas.
  • Both Sidhu Labs and Cymbet Corporation are focused on solid-state energy storage solutions, which makes them direct competitors. Furthermore, the two players have similar geographic reach.

Part
02
of four
Part
02

Sidhu Labs Competitive Analysis (2)

Neither Sidhu Labs nor Solid Power, Inc. appear to currently be generating revenue. Both companies produce similar products, but Sidhu Lab's competitive advantage is scalability, whereas Solid Power's is the safety and stability of its product.

Sidhu Labs

  • Revenue for Sidhu Labs in unavailable in the public domain. Sidhu Labs is a privately-held company, and it does not publicly provide its annual revenue. It has not mentioned its revenue in press releases; there are no third-party business information profiles (such as Craft.co, Crunchbase, or Hoover's) on the company; and our research discovered no available news articles which provide an estimated or actual revenue figure.
  • On its 'markets' page, the company indicates that it is "actively researching and developing" technologies for various markets. It does not indicate, however, that it currently has a viable product for any given market or industry, which could indicate that the company is not yet generating revenue.
  • Sidhu Labs's business model is organized around the scalability of its technology, which the company identifies as a key competitive differentiator. In addition, the company utilizes "non-traditional and sophisticated organic materials, and revolutionary manufacturing techniques."
  • Sidhu Labs does not directly indicate a given geographical area of focus. However, given the multi-national nature of the key players in all the markets for which its technology is being designed, it is reasonable to assume that the company's intended demographic reach is global. In addition, based on its emphasis on 'next-generation' technology, we can also reasonably assume that the types of companies targets are those which are actively researching and developing next-generation technology in EV, portable electronics, high temperature environments, and micro grid energy storage.
  • Across markets, Sidhu Labs's value proposition is its promise to develop an "integrated, fully accountable battery solution," which — if realized — would significantly lighten the R&D responsibility for the client companies.

Solid Power, Inc.

  • Solid Power is currently in funding stage, and there is no indication that it is generating revenue. To date, the company has raised $20 million in venture funding.
  • Solid Power presents the stability and safety of its battery solutions as its primary competitive advantage.
  • The company's venture funding comes from sources in the APAC region, the EU and the US. Based on this international support, it is reasonable to assume that its demographic reach is also multi-national, and likely focused in the three noted regions.
  • Solid Power's value proposition is in providing a revolutionary energy storage product with greater safety, greater capacity, and greater reliability.
Part
03
of four
Part
03

Sidhu Labs Competitive Analysis (3)

ToCAD America's revenue has been estimated at $789,000 and one of its competitive advantages includes its "rapid response time." The US, Japan, and China are the regions that the company focuses on; however, it has planned to expand its businesses at the global level. Excellatron's revenue has been estimated at $1.01 million and the company's main region of focus is the US. One of the competitive advantages of Excellatron includes its strategic partnerships with suppliers, research institutions, and other related technology companies and organizations such as its partnership with the National Renewable Energy Laboratory (NREL) for the development of "high rate deposition process" for thin-film batteries.

Excellatron Solid State, LLC

1. Revenue

  • Excellatron Solid State is a privately held company and, a direct statement about its revenue is unavailable in the public domain.
  • However, according to Dun & Bradstreet, the estimated revenue of Excellatron Solid State is $1.01 million.

2. Competitive Advantages

3. Regions of Focus

  • Excellatron is a US-based company.
  • It is listed among the major players operating in the North American market for solid-state batteries. However, there are no indications that the company has its establishments or business in any other parts of North America except the US.

4. Value Proposition

ToCAD America, Inc.

1. Revenue

  • ToCAD is a privately held company and a direct statement about its revenue seems to be unavailable.
  • However, according to ZoomInfo, the estimated revenue of ToCAD America is $789,000.

2. Competitive Advantages

  • ToCAD America's competitive advantage includes its business expansion and will soon become a global company.
  • The company has expanded "from Japan into numerous countries across the world."
  • They have spread and grown their business to "include the processes from development to production."
  • One of the competitive advantages of ToCAD is its "rapid response time" offering its customers an edge over others.
  • The company is "a proven leader" for developing "portable power products" for a wide range of industries.
  • By establishing its design and manufacturing sites in the US, Japan, and China, the company has positioned itself to meet its customer's demand for "time to market," performance and product pricing locally.

3. Regions of Focus

4. Value Proposition

Part
04
of four
Part
04

Sidhu Labs Competitive Analysis (4)

Invenergy's annual revenue has been estimated at $126.22 million, one of the company's competitive advantages is that it's "the #1 privately held advanced energy storage owner and operator", the Midwest and West are the top regions that the company focuses on within the U.S., and its value proposition centers around innovation. Estimates of Cymbet Corporation's annual revenue range from $2.6 million to $10 million, one of the company's competitive advantages is that it offers "the world's smallest solid state battery", Minnesota and Texas are regions within the U.S. that the company focuses on, and an aspect of the company's value proposition is that its batteries are "rechargeable thousands of times."

Invenergy

1. Revenue

  • Invenergy is a privately held company and, as such, we did not find a direct statement about the revenue it generates.
  • However, according to Dun & Bradstreet, Invenergy's estimated, annual revenue is $126.22 million.

2. Competitive Advantages

  • According to the CEO of Invenergy, Michael Polsky, Invenergy's competitive advantage is that it's "a fast-paced company of experts."
  • Another competitive advantage for Invenergy is that it's "the #1 privately held advanced energy storage owner and operator."

3. Regions of Focus

  • North America is the region that Invenergy focuses the most on, in terms of number of projects, which are shown on this map.
  • Within the continent, the U.S. is the country in which Invenergy has the most projects (approximately 100). Though those projects span the country, the states with the most projects (and thus the regions Invenergy focuses on) are Texas, Iowa, Illinois, and Colorado.
  • The other North American countries in which Invenergy has projects in are Canada (nine projects) and Mexico (three projects).
  • Europe is the region that Invenergy has the second-most projects in (13 projects; 11 in Poland and two in the U.K.).
  • Japan is the region that Invenergy has the third-most projects in (six projects).
  • The final region that Invenergy focuses on is South America, as the company has three projects therein.

4. Value Proposition

  • Invenergy's value proposition involves the company's focus on innovation.
  • The company's website states "Invenergy drives innovation in energy" and "Innovation is our obsession."
  • The company's website also states the following about its innovation value proposition: "We rethink projects from the ground up. Our ability to think in new ways allows us to continue to push ourselves and our industry further."

Cymbet Corporation

1. Revenue

  • Cymbet is a privately held company and, as such, we did not find a direct statement about the revenue it generates. However, we found three estimates of the company's annual revenue, which are provided below.
  • According to Zoom Information, Cymbet's estimated, annual revenue is $4 million.
  • According to GetCompanyInfo, Cymbet's estimated, annual revenue is between $5 million and $10 million.
  • Rocket Reach estimates Cymbet's annual revenue at $2.6 million.

2. Competitive Advantages

  • One of Cymbet's key competitive advantages is that it offers "the world's smallest solid state battery."
  • The company describes itself as "the leader in solid state energy storage solutions for microelectronic systems."
  • Cymbet also offered "the world's first energy storage chip" and states that it was "the first to market a surface mount packaged energy storage solution that designers can use to realize new embedded systems capabilities."

3. Regions of Focus

  • Cymbet has a global footprint.
  • Within the U.S., the regions that Cymbet focuses on are Minnesota and Texas (the states in which its two facilities are located).
  • Other regions that Cymbet focuses on globally are identified through the ones that the company's distributors service, which are as follows: North America, Europe, North America, Asia (Japan, China, Korea, and Taiwan), and South America.

4. Value Proposition

Sources
Sources

From Part 01