Imagine taking your EV to a charging station and recharging the battery in as much time as it takes to top off the tank of a regular gas vehicle. That kind of efficiency is now almost in reach with the 3-D Li-ion battery, which is capable of recharging fully in only a few minutes. It also has a lifespan of almost twice that of a regular lithium ion battery. With that kind of potential, the Li-ion battery may be the perfect electric car battery.

With such a massive reduction to the all-important recharge time, we believe this 3-D Li-ion battery, presented by Colorado State University and rumored to be made available on the market in only a couple of years, is at the vanguard of a brand new generation of increased-efficiency batteries. Despite the rising popularity of electric vehicles, it is still debated whether battery powered cars are really the future of the automobile industry. Alternate power sources such as hydrogen fuel cells are being furiously researched even though they still cost much more than any electric system on the market today. This new Li-ion battery prototype, however, could solidify the future of electric vehicles once and for all.

The rising demand for EV batteries is far greater than the capacity of the current manufacturers to build them, and new industrially-scalable production methods with lower costs are in desperate need. The global market value for the lithium-ion EV battery is currently estimated at around $10 billion. This number is expected to rise to almost $70 billion in the next ten years due to the growing demand for electric vehicles.

Small electric vehicles also require solid energy storage capacity, and this market is estimated to leap from its current $13 billion to over $30 billion in only five years. By 2016, the markets for the micro-hybrid and the e-bike battery are expected to jump from only $495 million and $12 billion, respectively, to a whopping $3.1 and $24.3 billion.

Producers of specialty-chemicals such as Cleveland's OM Group, a company that produces the chemicals used in lithium-ion batteries, could be looking a very lucrative future. Even though they get by in the current market climate, it's nothing compared to how busy they will be once the EV market really begins to boom.

Startup companies Amprius and Transphorm are both racing toward more efficient power conversion technology in EV batteries. Amprius has raised a lump sum of $25 million to invest in the future of their lithium-ion EV battery technology, and Transphorm has Google as one of its biggest backers.

Right now, it's all about efficiency. In order for electric motors to become as widespread as gasoline motors, drivers are going to demand charge times that are comparable to time spent refilling at the pump. While electric motor experts are also researching improvements to their lithium-oxygen technology, a large part of this efficiency is going to need to come from stronger, lighter batteries. That's why even the smallest improvement in the energy-density rating of a battery is seen as an important advance. But beyond its obvious application in the EV market, a stronger, lighter battery will have many more uses and a much broader impact in the overall scheme of a cleaner, greener world.