Based on its recent analysis of the battery market, Frost + Sullivan recognizes CFX Battery, Inc. with the 2008 North American Frost + Sullivan Award for Emerging Company of the Year for its novel primary carbon fluoride battery. CFX Battery is positioned to take advantage of the substantial market potential, having a solid foundation in the battery space through technology development, sound funding initiatives, and a highly experienced management team. Over the last year since its establishment, the company has created a network of global partners and strategic alliances to accelerate business development.
Its carbon fluoride (CFx) technology and other sophisticated rechargeable battery solutions have the potential to take market share away from Li/Manganese-Dioxide (Li/MnO2), Li/Thionyl Chloride (Li/SOCL2), and Li/Sulfur Dioxide (Li/SO2) chemistries. A proprietary next-generation rechargeable battery is also under development.
Since conventional primary Li/CFx designs were already used in various applications and offered high energy density, long shelf life, low self discharge rate, excellent high temperature functionality, and safety and reliability, CFX Battery had to identify the gaps and find ways to improve upon them. The company realized that existing Li/CFx batteries did not hold up well under high rate conditions as well as low temperatures, and were more expensive than competing primary lithium chemistries such as Li/SO2, Li/MnO2, and Li/SOCl2.
"Therefore, CFX Battery created a Li/CFx battery that exhibited all the highly desirable features of conventional CFx designs, and made vast improvements to high rate performance and low temperature operation, as well as reduced the manufacturing cost," says Frost & Sullivan Principal Consultant Sara Bradford. "By utilizing nanotechnology and additional improvements in materials, CFX Battery had developed a battery with significant market potential."
The low-cost, improved, and unique primary CFx batteries could be used in underserved application markets, such as military, oil/gas, automotive (specifically, tire pressure monitoring systems), medical, and many other industrial and consumer applications. These batteries use less fluorine (sub fluorinate) to improve performance and conductivity. CFX Battery's products also have a longer shelf life.
"The difference between CFX Battery and other start-up battery companies/alternative energy storage developers is that CFX advanced an established battery chemistry into a primary and rechargeable power system that offers cost, performance, and safety benefits in a single solution," notes Bradford. "By making significant improvements and maintaining the core chemistry strengths, CFX Battery is able to provide a truly disruptive battery chemistry with the ability to be highly flexible in both the manufacturing process as well as user requirements."
Each year, Frost & Sullivan presents this award to the company that has emerged as a significant participant within its industry. This company is perceived to have exhibited outstanding management, superior market growth, exceptional customer service, and the ability to combine technology and successful strategic initiatives. This company has the exceptional know-how to take advantage of market changes through the execution of innovative strategies within the existing competitive landscape.
Frost & Sullivan Best Practices Awards recognize companies in a variety of regional and global markets for demonstrating outstanding achievement and superior performance in areas such as leadership, technological innovation, customer service, and strategic product development. Industry analysts compare market participants and measure performance through in-depth interviews, analysis, and extensive secondary research in order to identify best practices in the industry.