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 south-eastern Brazil. The fund is managed by Confrapar - a pioneer in the Brazilian Venture Capital and private equity market.
The Aerotec investment paves the way for OXIS Energy to open a subsidiary in Brazil. The Brazilian team will be trained at OXIS Energy's headquarters in Oxford in the UK, prior to creating a Research and Development Centre in Belo Horizonte, the capital of Minas Gerais. The company will initially focus on commercial expansion throughout Latin America, and will soon address the aviation, defence and heavy electric vehicle markets worldwide. OXIS Energy will also explore the lithium deposits in Minas Gerais, and is currently evaluating the composition of the Li-S chemistry of the graphene products available in the state.
Established in 2005, OXIS Energy 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 are 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, Managing Partner at Confrapar, added, "This overseas investment will bring new technological advances into Brazil, whereby the State of Minas Gerais builds up its competencies and skills in the market for rechargeable lithium batteries, with an estimated value in excess of US$100 billion."
OXIS Energy | oxisenergy.com