Battery technology investments. Joint Research Centre report
The most recent report by Joint Research Centre (JRC) on Battery Technology revealed that global public RD&D investments in the sector saw a notable increase from €450 million in 2021 to €490 million in 2022. The European Union, alongside the United States and Canada, has been at the forefront of this surge. Within Europe, public funding remained steady at €270 million, with France, Austria, and Germany making significant contributions. However, the global landscape of private investment painted a different picture. Venture capital and RD&I funding for battery developers plummeted to €7.5 billion in 2023, marking a 27% year-on-year decrease. Despite this global downturn, Europe bucked the trend, achieving record levels of private funding and recovering from the investment drop experienced in 2022. European corporations continue to drive innovation, alongside global leaders such as Toyota, Bosch, LG Chem, Samsung, and LG Energy Solutions. These investment trends highlight a promising opportunity for Europe to capitalise on innovative battery reuse, recycling, and material initiatives. The SOLMATE project continues addressing these opportunities by developing advanced sorting, qualification, and circularity technologies for EoL EV batteries and PV panels in with use cases in Belgium and Germany.
