The U.S. Department of Energy awarded Phase 1 funding to UK-based blockchain firm Everledger for two pilot programs to track electric vehicle (EV) battery lifecycle using blockchain and IoT. Automaker Ford will participate in the first pilot for management and responsible recovery of batteries at end-of-life.
The second pilot aims to reward EV owners for recycling lithium-ion batteries. The goal is to create a circular economy for EV and portable batteries and recycle materials to reduce environmental impact. Everledger said EV batteries could retain about 70-80% of their capacity even after ten years of use and hence can be used for another purpose such as storing solar energy.
The startup estimated that there would be 18 million EVs on the road by 2030. But the
International Energy Agency predicts a far higher figure of 250 million.
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