A Utah-based startup announced the debut of a product the company says is a replacement for graphite in lithium-based batteries used by electric vehicles.
Why it matters: Companies developing silicon-based battery materials are seeing an influx of funding due to the EV market's projected growth, in addition to buy-in from automakers Porsche, Mercedes and BMW.
Ionic Mineral Technologies, headquartered in Salt Lake City, says the company is developing its nano-silicon material naturally, by mining halloysite. The mining approach is meant to bring the cost of the nan0-silicon lower than if it were made synthetically.
