Battery Market Insights & 2024 Year in Review

Movers & Makers

Why is 2025 shaping up to be a promising year for the battery industry, and how are companies positioning themselves for success in this burgeoning market?

In this episode, Greg and Will dive into the key takeaways from the Advanced Automotive Battery Conference, offering a fresh perspective on the evolving battery industry. While the electric vehicle market remains a major focus, they explore the growing potential of energy storage solutions for utilities, despite political uncertainties and fluctuating EV demand. The episode highlights the contrasting fortunes of battery manufacturers, from Northvolt's financial struggles to the success stories of Lyten and Morrow, which are securing significant funding for growth.

A central theme of the discussion is Diagon's strategic pivot and $4.3M raise in 2024. Will shares how the company transitioned from a complex procurement software model to a more streamlined marketplace approach, directly addressing customer needs and positioning itself for greater success. The episode looks ahead with optimism, emphasizing the promising outlook for the battery industry in 2025. With a focus on supporting customers and collaborating with industry experts, Diagon is poised to thrive as the manufacturing landscape continues to evolve.

In This Episode:

• (00:00) Comprehensive analysis of insights from the Advanced Automotive Battery Conference in Las Vegas, optimism in the energy storage sector despite challenges in electric vehicle demand, Northvolt, Lyten and Morrow
• (14:09) Strategic pivots for startups, successful pivot from complex software to a marketplace model
• (22:05) Using a Super Mario analogy, solving business challenges step-by-step to uncover new opportunities, especially in the battery industry
• (26:00) Economic outlook and positive economic indicators for 2025, focus on growth opportunities, older companies entering the battery market
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About the show:

The Movers and Makers podcast, powered by Diagon.ai, explores the future of manufacturing and supply chain innovation. Hosted by Diagon co-founders Will Drewery and Greg Smyth, the show will cover factory-building strategies, manufacturing processes, and market insights. With expertise from Diagon, a leader in reshoring and streamlining manufacturing equipment procurement, the podcast offers valuable perspectives for engineers, executives, and enthusiasts, aiming to optimize supply chains and drive efficiency in the industry.

About the hosts:
Will Drewery Will Drewery is the founder and CEO of Diagon, an equipment marketplace focused on serving the battery industry. With a background in equipment procurement, Will's career began as a DOD contractor in Iraq in 2009, followed by significant experience at Tesla (2012-2018), where he built and led the equipment procurement team. He also gained valuable tech expertise working with Social Construct and Astra. In February 2024, Will successfully led Diagon through a pivot from a procurement software model to its current marketplace focus, raising $4.3M in Series A funding. His mission is to simplify the complex processes of sourcing, financing, and managing machinery for high-tech industries, particularly in batteries and aerospace.

Greg Smyth is a co-founder and current VP of Supply Chain for Diagon, as well as a venture partner and podcast host. Greg has extensive experience in engineering, supply chain management, and investment. Originally from Newfoundland, Canada, Greg worked at ExxonMobil for 8 years before moving to Silicon Valley in 2016. At Tesla, he spent 4 years negotiating contracts, leading the development of self-driving hardware, and managing full life cycle commodity procurement—from raw materials to recycling. Greg is also an angel investor who continues to drive Diagon’s growth and success.

Resources:

Diagon.ai

Will Drewery LinkedIn
Greg Smyth LinkedIn

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