In this episode, host Cam Dales of Peak Energy speaks with Anil Achyuta, an early investor in Peak from TDK Ventures. TDK Ventures, the corporate VC arm of TDK Corporation, invests in deep tech/frontier tech within energy and mobility, characterized by a long-term, patient approach.

We discuss TDK's significant role in batteries back to the 2004/2005 acquisition of Chinese company ATL, whose pouch cell technology, propelled by the iPhone's success, led to the spin-off and rise of CATL. A key factor was ATL's journey to improve quality under TDK, adopting a "zero defect policy" mindset crucial for meeting stringent requirements like Apple's.

Anil shares his initial skepticism about investing in batteries as expensive, high-risk experiments. His perspective changed by seeking investments with performance gains, a strong unit economics advantage (without subsidies), and addressing fundamental industry misalignments.

Anil describes TDK Ventures' "prepared mind" approach, involving deep dives and thesis development before investing. Cam highlights the crucial role of timing for startup success, and Anil concludes with personal lessons from cricket.

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In this episode of the IONS Podcast, host Cam Dales talks with Peak Energy’s VP of Cell Engineering, Brandon Kelly, PhD, about the potential of sodium-ion batteries, with a focus on the NFPP (sodium iron phosphate pyrophosphate) chemistry that Peak Energy is developing for grid storage.

Dr. Kelly explains how NFPP is particularly well-suited for stationary energy storage, offering strong stability, safety advantages over certain lithium-ion chemistries, and long cycle life. While NFPP cells currently (March 2025) have lower energy density and higher costs than LFP, experts predict cost parity by 2027 as the technology scales.

Beyond the cell itself, designing energy storage systems around sodium-ion's specific properties—including its thermal resilience and cycling stability—could unlock significant long-term value by reducing operational complexity, cooling requirements, and maintenance over a 20-year project lifespan.

If you’ll be attending the International Battery Seminar in Orlando, Florida, March 17-20, be sure to catch Dr. Kelly’s presentation, Advancing BESS with Sodium-ion Batteries, and join the discussion during the program’s Q&A session.

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On this episode of the IONS podcast, we talk with Landon Mossburg, co-founder of Peak Energy, who shares his experiences helping Northvolt grow from a team of 20 people to become Europe's largest battery manufacturer. Now, having declared bankruptcy, Northvolt's meteoric rise and tragic fall begs the question: how can western companies compete with the Chinese and Korean companies that dominate the industry today?

Host Cam Dales explores what went right, what went wrong, and what lessons can be learned from Northvolt's journey

Summary:

• Northvolt aimed to establish a sustainable battery supply chain in Europe but struggled with scaling and parallelizing various processes.
• The company's vision was expansive, encompassing recycling, raw materials, cathode production, cell manufacturing, and battery systems, which proved difficult to manage simultaneously.
• Northvolt initially focused on high-energy-density NMC cells but later recognized the strategic importance of including LFP options in their portfolio.
• The company encountered difficulties in cell design and manufacturing, including equipment selection and adapting to customer demands for custom cells.
• External factors, such as construction delays, supply chain disruptions during COVID-19, and policy uncertainties, further complicated Northvolt's efforts.

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