But building big and building fast isnt the only way to cash in on the battery boom.
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ASML epitomises this strategy.
The Netherlands-based firm is thesole producer of the advanced photolithography machines used by all the worlds biggest chipmakers.
Without ASMLs machines, the entire chip supply chain would falter.
LionVolt spun out from TNOs Holst Centre in Eindhoven, the Netherlands in 2020.
LionVolts anodes can be dropped into the manufacturing processes of existing gigafactories reducing risk and lowering capital requirements.
This may be key to survival for startups operating in a highly competitive global battery market.
Meanwhile,CarbonX, a spinout from TU Delft, has developed an alternative to graphite in batteries.
Story bySion Geschwindt
Sion is a freelance science and technology reporter, specialising in climate and energy.
