Marine battery manufacturer AYK Energy is today announcing a significant breakthrough in electric propulsion technology for ships – the first battery sold at $300 per kWh.
AYK founder Chris Kruger said the milestone will accelerate the adoption of battery powered vessels. He said the previous industry standard price was around $450-$550 per kWh mark having started at $1600 per kWh in 2012. Kruger said for a Ro-Pax car ferry operating a 60 megawatt-hour (MWh) battery the Pisces battery can save more than $10 million on the battery sale price, while for a 25 MWh battery the saving is around $4 million.
“This is a big moment for electric powered vessels,” he said. “We’ve been working hard to push the energy density up and the cost down. This new Pisces battery has at least 10 per cent higher energy density than our other batteries. To sell a kWh for as little as $300 will drive even greater adoption of marine batteries. This has always been the way since the earliest days of electricity with Tesla, Westinghouse and Edison – driving down cost so more people can benefit.”
Kruger said the Pisces battery is designed for ‘low C rate’ applications, vessels such as Ro-Pax ferries, cargo ships and offshore workboats, undertaking longer range voyages rather than high speed short distance trips.
“Our vision at AYK Energy is to innovate marine battery technology in a way that Tesla has innovated electric cars,” he said. “The development of electric vessels has been slower than electric cars because of the complexity and high safety and reliability standards required in marine applications, which drives up cost. I knew to achieve large scale adoption prices had to come down. We want to play a meaningful role in changing the maritime industry for the better by producing low cost, safe battery technology.”
Kruger said the new battery is set to ramp up production at AYK’s factory in Zhuhai, China with sales already projected to exceed 100 MWh in 2024. “Our production line is very busy supplying batteries for a wide range of vessels including tugs. ferries. OSVs and even bulk carriers and container vessels,” he said. “We expect the Pisces to be in demand because of its affordability, energy density and safety. Owners are looking for affordable, viable solutions to meet their decarbonization targets and now batteries are becoming more and more part of the energy mix for vessels of all types and sizes. It’s an exciting time.”
Kruger is known as one of the pioneers of marine battery technology, having worked first in the electric car industry before moving to marine. He developed the battery for the first hybrid propulsion ferry, Princess Benedikte, and the first fully electric ferry. Ampere in 2012. He founded AYK Energy in 2018.
Source: AYK Energy
