Paraclete Energy Achieves Cost-Effective Energy Storage at $35/kWh vs LFP at $53/kWh

Chelsea, MI, August 14, 2024 – In light of recent reports highlighting the declining cost of LFP batteries, Paraclete Energy, a leading provider of silicon-based anode materials for the electric vehicle and Li-ion battery markets, today announced a significant advancement in battery technology. The company’s new 100% SILO Silicon™ anode materials offer exceptional energy density and cost-efficiency, achieving a breakthrough cost-per-kilowatt-hour (kWh) of $35.

This positions Paraclete Energy’s SILO Silicon™ anode materials as a highly competitive alternative to traditional graphite anodes, which are commonly used in LFP batteries currently costing $53/kWh. The cost reduction achieved by SILO Silicon™ is driven by advanced materials science and optimized manufacturing processes, solidifying Paraclete Energy’s technology as a transformative force in the industry.

“The recent decline in LFP battery prices underscores the industry’s commitment to affordability and sustainability,” said Jeff Norris, CEO of Paraclete Energy. “Our SILO Silicon™ anode technology serves as a strong proxy for cost-effective and high-performance energy storage, indicating not only significant cost reductions but also setting a new benchmark for the rapid adoption of electric vehicles and renewable energy solutions.”

Paraclete Energy’s SILO Silicon™ anode materials offer an impressive energy density over 520 Wh/kg, significantly exceeding the capabilities of traditional graphite anodes. This increased energy density allows batteries to deliver more energy for longer periods of time, making them ideal for electric vehicles and stationary energy storage applications. The company’s commitment to pushing the boundaries of battery technology aligns with the global shift toward renewable energy and increasing demand for efficient and affordable energy storage solutions.

Paraclete Energy is dedicated to advancing battery technology and improving the access and affordability of renewable energy solutions. The company’s groundbreaking developments will play a critical role in reducing global carbon emissions and supporting the widespread adoption of sustainable energy practices.

About Paraclete Energy

Paraclete Energy is a leading silicon anode materials company serving electric vehicle and lithium-ion battery markets. Its unique SILO Silicon™ polymer matrix technology enables energy densities up to 300% that of graphite and more than 200% that of other silicon anode competitors. Batteries made with SILO Silicon™ are 33% less expensive per kilowatt hour than traditional carbon-based products. Paraclete Energy’s distributed manufacturing model enables production near or at customers’ production sites, further increasing efficiency and reducing costs.