Benchmark Mineral Intelligence, also known as Benchmark, was founded by Simon Moores in 2014.
 | |
| Industry | Commodities, critical minerals, lithium ion batteries, electric vehicles |
|---|---|
| Founded | 2014 |
| Founder | Simon Moores |
| Headquarters | London, UK |
| Website | https://www.benchmarkminerals.com/ |
Benchmark is the world’s foremost prices, data and intelligence provider for the lithium ion battery and electric vehicle supply chain offered through a variety of subscription services.
The data and intelligence provided by Benchmark is used to settle billions of dollars of supply chain contracts and build critical mineral supply chains that feed the energy transition.[1]
Overview edit
Specialising in independently assessing prices and supply chain data for the energy transition, Benchmark is an IOSCO-assured Price Reporting Agency (PRA).
In August 2019, the company was awarded the highest International Organization of Securities Commissions (IOSCO) assurance, known as Type 1 Reasonable Assurance by Ernst & Young (EY), for its lithium prices.[2]
In 2021, Benchmark was awarded the IOSCO accreditation by PwC for all of its key battery raw materials of lithium, cobalt, nickel and graphite - the first time ever such an accreditation was awarded individually for each. [3]
The company became the world’s only PRA to set Type 2 IOSCO standards across all battery raw materials in 2023[4].
Private Equity Investment edit
In 2023, private equity fund Spectrum Equity purchased a 20% minority stake in the company, in a deal that assessed Benchmark as the world’s most valuable, pound-for-pound publisher in the commodity space compared with competitors such as Fastmarkets, S&P Global Platts, WoodMackenzie and CRU.
The deal was led by London-based Cardean Bell acting as financial advisors for a deal reported by Reuters to value the company at around $500m in November 2023.[5]
Government and Royalty edit
Benchmark advises global policy and governance, with CEO Simon Moores having testified to the US Senate Committee for Energy & Natural Resources on three occasions - in 2017[6], 2019[7][8], and 2020[9] - the UK House of Commons[10] and the Canadian House of Commons[11].
During his 2019 testimony to the US Senate, Moores coined the declaration “we are in the midst of a global battery arms race in which the US is presently a bystander”[12]. The phrase “global battery arms race” became the moniker for the electric vehicle megatrend.
In 2024, Benchmark was recognised by King Charles III on Prime Minister Rishi Sunak’s recommendation, becoming a recipient of The King’s Awards for Enterprise in the category of International Trade[13]. These awards are considered the most prestigious business awards in the UK.
Divisions edit
Benchmark enables the most critical decisions of the energy transition by providing independent prices, data and market intelligence services:
Price Assessments edit
Benchmark is the world’s most regulated and independent Price Reporting Agency (PRA) that specialises in the electric vehicle (EV) battery supply chain. Benchmark Price Assessments are used by the industry for supply contract settlement, indexation and price risk management.
Forecasts and Cost Analysis edit
Benchmark Forecasts provide a long term outlook for supply, demand, prices and costs to assist strategic planning. Benchmark’s market forecast coverage spans an array of energy transition materials, midstream components, battery cells and recycling.
Sustainability edit
The company’s research into Environmental, Social and Governance (ESG) standards covers ESG performance analysis of critical mineral supply chains and Life Cycle Assessment (LCA) expertise.
Consultancy edit
Benchmark partners with industry participants to conduct bespoke advisory services to support strategic decisions.
Global Events edit
Presentations, networking and dealmaking are facilitated across Benchmark's conferences worldwide. The Benchmark World Tour hosts a series of free investment seminars focused on financing the energy transition. The Benchmark GIGA conference series holds regional events in Europe, Washington DC and Asia Pacific every year.
Benchmark Lifetime Achievement Award edit
Benchmark’s Lifetime Achievement Award recognises those that have made the biggest impact on the energy transition ecosystem.
Governor Arnold Schwarzenegger[14] was recognised with Benchmark’s inaugural Lifetime Achievement Award[15] at Benchmark Week 2023. Notable recipients include Nobel Laureate, Dr M. Stanley Whittingham[16], who’s scientific discoveries resulted in the creation of today’s lithium ion battery.
References edit
- ^ Written evidence published by the UK Parliamenthttps://committees.parliament.uk/writtenevidence/118505/html/
- ^ "Price Premium Narrows Between Lithium Hydroxide and Carbonate | INN". Investing News Network. 2019-08-20. Retrieved 2019-12-02.
- ^ "Benchmark awarded IOSCO Assurance| Bloomberg". Bloomberg. 2019-09-21. Retrieved 2019-09-21.
- ^ "Benchmark Mineral Intelligence to Take on First Ever Investment From Leading Software and Data Intelligence Focused Growth Equity Firm, Spectrum Equity". spectrumequity.com. November 17, 2023.
- ^ Ernest, Scheyder (November 15, 2023). "Private equity fund takes 20% stake in EV data provider Benchmark Mineral". Reuters.com.
- ^ "Full Committee Hearing to Examine Energy Storage Technologies". energy.senate.gov. October 3, 2017.
- ^ "Technology: EV 'arms race' revs up Murkowski's old minerals bill". www.eenews.net. May 9, 2019. Retrieved 2019-12-05.
- ^ "Murkowski: Energy and Mineral Security are the Building Blocks of a Robust Economy - Republican News - Newsroom - U.S. Senate Committee on Energy and Natural Resources". www.energy.senate.gov. 5 February 2019. Retrieved 2019-12-05.
- ^ Moores, Simon (June 24, 2020). "THE IMPACTS OF COVID-19 ON MINERAL SUPPLY CHAINS, THE ROLE OF THOSE SUPPLY CHAINS IN ECONOMIC AND NATIONAL SECURITY, AND CHALLENGES AND OPPORTUNITIES TO REBUILD AMERICA'S SUPPLY CHAINS". govinfo.gov. pp. 41, 43, 81.
- ^ "Batteries for electric vehicle manufacturing - Oral evidence". committees.parliament.uk. May 9, 2023.
- ^ "RNNR COMMITTEE MEETING". www.ourcommons.ca. February 22, 2021.
- ^ Written Testimony of Simon Moores, Benchmark Mineral Intelligence, US Senate Committee on Energy and Natural Resources Committee February 5 2019https://www.energy.senate.gov/services/files/9BAC3577-C7A4-4D6D-A5AA-33ACDB97C233
- ^ "The King's Awards for Enterprise Magazine: Winners". kingsawardsmagazine.com. May 6, 2024.
- ^ Arnold Schwarzenegger
- ^ "Arnold Schwarzenegger to be Presented with Inaugural Benchmark Lifetime Achievement Award at Benchmark Week 2023". uk.finance.yahoo.com/news. November 14, 2023.
- ^ M. Stanley Whittingham