By Jason Deign
Saltwater battery manufacturer Aquion Energy is aiming to cut the price of its batteries by up to 50% within a decade, a company executive confirmed.
Newly named chief commercial officer Tim Poor said it was “very reasonable” to expect a 25% to 50% cut in costs once current manufacturing facilities reached full scale, which would happen within “single-digit years.”
Aquion currently has manufacturing capacity for 200MWh of batteries a year, based on a single production line. But the company’s factory has space for four more lines, allowing for up to 1GWh of capacity to be produced a year.
Poor said the company was planning to double production in the fourth quarter of this year. Aquion has so far shipped 20MWh of storage to about 200 customers, with 50% of products going for export, he said.
Historically, though, Aquion has tended to attract attention for its fundraising escapades rather than its business growth.
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