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PPK Group (ASX:PPK) successfully raises $3.25M for Li-S battery project
  • PPK Group (PPK) has successfully raised $3.25 million to fund its lithium-sulphur battery project in collaboration with Deakin University
  • Li-S Energy is a joint venture company incorporated to run the program, with shares split between PPK (65 per cent), Deakin (25 per cent) and BNNT Technology (10 per cent)
  • The $3.25 million raised entitles the new investors to a 9.1 per cent share of Li-S Energy
  • The two-year project has already been scoped, Deakin has contracted resources to run the project, and PPK has provided partial funding
  • The new funds raised are part of PPK's strategy to "vigorously pursue" Li-S Energy's end goal of producing next generation batteries
  • PPK Group closed Thursday's session 1.9 per cent higher, with shares trading for $3.80 each

PPK Group (PPK) has successfully raised $3.25 million to fund its lithium-sulphur battery project in collaboration with Deakin University.

The funds were raised in conjunction with Novus Capital.

The project

Li-S Energy is a joint venture company incorporated to run the program, with shares split between PPK (65 per cent), Deakin (25 per cent) and BNNT Technology (10 per cent).

The $3.25 million raised entitles the new investors to a 9.1 per cent share of Li-S Energy.

The two-year project has already been scoped, Deakin has contracted resources to run the project, and PPK has provided partial funding.

The new funds raised are part of PPK's strategy to "vigorously pursue" Li-S Energy's end goal of producing "next generation batteries that offer significant improvements over current lithium ion batteries in performance and safety."

The novel tech theoretically has broad and flexible market applications, should conceptualised models become physical, economical, reality.

Next steps

PPK says the company and its partners hold great hopes for the future of lithium-sulphur batteries.

The company adds the incorporation of boron nitride nanotubes (BNNTs) into the Li-S battery design will better "protect battery components and enable superior energy storage and re-charging functionality."

If the Li-S joint venture can economically produce the potentially game-changing technology, PPK and its partners could be on a real winner.

PPK Group closed Thursday's session 1.9 per cent higher, with shares trading for $3.80 each.


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