PERTH: PPK Group Limited announced that Li-S Energy has agreed to make an investment of USD $1.73 million into Zeta Energy LLC, a U.S. based battery technology company.
Zeta holds leading technology focused on the commercialisation of energy packs using Graphene Carbon Nanotubes and Lithium Sulphur. This technology addresses some future battery market initiatives in a different way to the Boron Nitrate Nanotube technology which Li-S Energy has been focussed on to date.
In addition, Zeta Energy is making an investment into Li-S Energy of USD $1.4 million. Following this investment Li-S Energy will own approximately 2.4% of Zeta Energy and Zeta Energy will own approximately 2% of Li-S Energy. PPK retains a controlling interest in Li-S Energy.
The board of Li-S Energy considers that both technologies have merit and will present significant commercial opportunities in the emerging next generation battery area and that some sharing of research outcomes may be beneficial to both companies.
This opportunity has been introduced to Li-S Energy by Mr. Alan James, who recently returned from his role as Chairman of Macquarie Capital’s North American Utilities, Power and Renewables focus.