NorthVolt AB, the Swedish company founded by a former Tesla Inc. executive, wants to cut the cost of storing power in half with a $4.2 billion lithium-ion battery factory. 

Energy storage is seen as the missing link in the world’s transition to a zero-carbon economy and also an area of focus for the connected mobile and M2M landscape. 

Batteries can fill power gaps from intermittent solar, hydro, wind and traditional power plant energy production, as well as serve to mitigate peak load servicing costs. 

Lithium-ion packs are also key for automakers banking on a new generation of plug-in and hybrid vehicles – and we are all, of course, aware of the charge limitations of many modern smart phones.

The demand side, coupled with natural resource constraints (both fossil fuels and battery manufacturing), mean battery innovation doesn't just make economic sense but is also a long-term global requirement.