OXIS Energy UK Ltd is to receive a substantial investment from Aerotec, a Brazilian Private Equity fund. This £3.7 million investment is Aerotec's first international venture. The Aerotec Fund is centred on Aerospace and advanced manufacturing and is anchored by CODEMIG, the Economic Development Company in the state of Minas Gerais in southeastern Brazil. CODEMIG is managed by Confrapar which is a pioneer in the Brazilian Venture Capital and private equity market.
OXIS Energy established since 2005, has developed, and continues to advance an innovative Lithium Sulfur (Li-S) battery chemistry, cells and systems that will revolutionise the worldwide rechargeable battery market. With considerably higher energy density, OXIS' batteries are lighter, safer and as they do not comprise any rare earth metals, OXIS Energy battery systems are more eco-friendly than Lithium-ion alternatives. Because of those characteristics, OXIS' technologies are very suitable for the aerospace and electric bus industries.
Besides Aerotec's GB £3.75 million investment, the company has also received funding from a Korean electronics company and a European battery materials company.
Huw W. Hampson-Jones, CEO of OXIS Energy, stated, "This is a huge step forward for OXIS Energy in the development and the commercialisation of its Li-S battery systems technology. Brazil has a very high concentration of buses, of which a significant proportion is over 15 years old. The transition to electric heavy vehicles will, to a great extent, eliminate the polluting effects of both the internal combustion engine and the toxic pollutants of current Lithium-ion battery systems technology."
Rodrigo Esteves, the Managing Director of Confrapar, added, "This is our first overseas investment with the intention of bringing new technological advances into Brazil, whereby the State of Minas Gerais builds up it competencies and skills in the market for rechargeable lithium batteries, with an estimated value in excess of US $100 billion."
OXIS Energy Ltd | oxisenergy.com