- ExxonMobil claims to have made a lithium-ion battery breakthrough.
- The company claims its synthetic graphite anode can extend an EV battery’s lifespan by 30%.
- Synthetic graphite is an emerging alternative to natural graphite which requires extensive mining.
When ExxonMobil chemist Stanley Whittingham invented the lithium-ion battery in the 1970s, few could have imagined it would one day power everything from iPhones to Teslas. But Exxon’s interest in renewables waned, and other companies picked up the mantle of pushing lithium-ion technology forward.
Now, as global demand for oil begins to slow down, Exxon is once again ramping up investments in renewable energy. On Friday, the company’s CEO said that it has developed a new type of synthetic graphite that could improve the lifespan and performance of electric vehicle batteries, Bloomberg reported.
Exxon claims the new material—used in EV battery anodes—can extend a battery’s lifespan by 30%. The material is being tested by multiple unnamed EV makers, according to the outlet. Graphite also has a direct impact on battery performance and efficiency, so better quality also means more range and faster charging speeds.
Just last week, Exxon announced that it had acquired graphite processing company Superior Graphite. Exxon said it bought the company to “build a robust synthetic graphite supply chain in the U.S.”
If you’re unfamiliar with this battery jargon, here’s a basic lowdown on what graphite really does. It is the raw material used in lithium-ion battery anodes—the part of the battery which stores electrons during a charge. A battery’s cathode, which mainly determines its energy density, is what’s made of other materials you may have heard of, like lithium iron phosphate (LFP) or nickel manganese cobalt (NMC).
Graphite itself is abundant on Earth, but its mining can be labor intensive and expensive. And China controls some 95% of the global supply of battery-grade graphite. Still, battery makers have been using it for decades for its stability and safety.
Exxon said synthetic graphite is less labor-intensive and more consistent in quality. Its graphite can apparently be made using “carbon-rich feedstocks from existing refining streams.” That basically means less digging and tapping more into petroleum coke or coal tar pitch, which are byproducts of oil making, according to a study published in Science Direct.
While the Trump administration handed oil companies a win with the One Big Beautiful Act, which cuts subsidies for clean energy programs, the bill itself can’t magically generate more fossil fuel underground. According to the U.S. Energy Information Administration, global fossil fuel reserves could meet energy demand until 2050, but supplies beyond that are highly “uncertain.”
Studies show that EVs are already displacing millions of barrels of road fuel each day. And now oil companies are trying to find alternative revenue sources and position themselves for the future.
Exxon is also investing heavily in domestic lithium production. Its first planned project in Arkansas will supply lithium to Korean battery makers SK On and LG Energy Solution. Oil giants Shell and BP, on the other hand, are developing EV charging stations.
Contact the author: suvrat.kothari@insideevs.com
