Global tech leader Alkegen possessed next-generation battery technology: silicon anode technology, called SiFAB, that gives lithium-ion batteries greater energy density, faster charges, and longer battery life. But the company had questions regarding the business model, a go-to-market plan, and a strategy to scale and create value.
BCG X (then BCG Digital Ventures) validated SiFAB’s market opportunity, developed a robust investment case and commercialization plan, and worked alongside Alkegen's team to launch the venture and gain traction with potential customers and partners. In addition to helping the new business get its first customers and access battery and original equipment manufacturers, BCG demonstrated its belief in the venture by investing half its fees in exchange for equity.
Unlike any other battery technology on the market today, the SiFAB battery’s proprietary nanoporous fiber structure accommodates the swelling of silicon in lithium-ion batteries and allows high-content formulations for greater performance and grid storage.
This is more than a sustainable future for batteries. It's a breakthrough that will change how we power our lives. It can be scaled across industries to increase energy density in electric vehicles, maximize space in consumer electronics, make cordless power tools lighter and stronger, improve weight and volume in aerospace, and optimize many other applications. It all adds up to a transformational impact on the world.
After several years of R&D, Alkegen sought BCG’s expertise in innovation, emerging technologies, and the energy industry to validate SiFAB’s market opportunity and performance characteristics, establish competitive benchmarks, develop an investment case, and confirm the company’s scale-up plans. The BCG X team then focused on commercialization, announcing the SiFAB manufacturing line in June 2021.
Stefan Gross-Selbeck, X. Green Tech
BCG X—the tech build and design unit of BCG—disrupts the present and creates the future by building bold new tech products, services, and businesses.