Bullion is a popular investment among SMSF clients, and so we often feature interesting news and insights into the world of gold and silver.
Recently, a new Samsung silver solid-state battery is all the buzz with the silver bugs. The technology was presented back in March of this year by the Samsung Advanced Institute of Technology and the Samsung R&D Institute Japan. But a recent report from the Silver Academy in August has got the bug’s ears up. The battery is solid-state and long-lasting up to 20 years. Rather than trying to substitute silvers’ unbeatable chemical properties due to cost, the Samsung team has embraced the properties to make a more cost-effective option. So why is the battery getting everyone excited and what could it mean for the silver price in the future? Watch Ainslie’s Insights chat about this with Chris and Alex here, and read how the solid-state batteries work and their potential benefits.
Why are the bugs excited? Current silver mining output is estimated at 25,000 tonnes per annum, the article from the Silver Academy ‘The Engine Cares Not What it Powers. The Public Turns to Silver for Faster Charge, Longer Range and Longer Life’, estimates that these new silver batteries could increase demand by 25,400 per annum, taking the entire mining output.
This could increase the price of silver significantly due to supply shortages as the green revolution starts looking for safer alternatives to the lithium-ion battery. So, get ready for the next silver squeeze.
