OXIS Energy UK will manufacture Li-S batteries in the state of Minas Gerais in south eastern Brazil
OXIS Energy has received a GBP3.7 million investment (US$4.95 million) from a Brazilian Private Equity fund – Aerotec. The manufacturing plant is set to produce millions of cells per year. The plant’s initial focus will be on commercial expansion throughout Latin America, addressing the aviation, defence and electric bus markets worldwide. OXIS Energy will also continue its R&D programme in the UK.
OXIS Energy was found in 2005. The company is developing innovative lithium sulphur (Li-S) battery chemistry, cells and systems for the global rechargeable battery market. OXIS’ batteries have higher energy intensity and do not comprise any rare earth metals. Li-S batteries are lighter and more eco-friendly than Li-ion batteries.
Huw W. Hampson-Jones, CEO of OXIS Energy, stated: “ Buses tend to use 30 times more fuel than an electric car, and for every 1,000 carbon fuelled buses, we save 500 barrels of diesel fuel a day. The OXIS technology is ideally suited for electric aircraft; it is light and extends significantly the flight times of aircraft. These are key factors in the deployment of OXIS lithium sulphur (Li-S) battery systems technology for electric buses and aviation vehicles.”
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.”
The investment is Aerotec’s first international venture. The Aerotec Fund is centred on aerospace and advanced manufacturing and is secured by CODEMIG, the Economic Development Company. The fund is managed by Confrapar – a pioneer in the Brazilian Venture Capital and private equity market.