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Li-S Energy (ASX:LIS) has popped +5% on Tuesday, shaking off what is yet another brutal red day for the bourse, as the company confirms its receipt of a $7.8 million grant from Canberra’s renewables agency (ARENA) to assist Li-S boost its domestic battery manufacturing capacity.
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The $7.8M grant is to support a manufacturing optimisation program, a feasibility study, and FEED works for the site to eventually produce up to one gigawatt hour per year worth of lithium sulphur batteries.
That combination – lithium and sulphur – has long been Li-S Energy’s value prop; it reports better battery life, shorter charging cycles, and the tech has been proven to some extent in small handheld-launch style drones.
Li-S has an existing manufacturing capacity at a site in Geelong, Victoria; should the ~$8M in funding allow for Li-S to truly expand to a one GWh capacity, that would represent a 500-fold increase on current output.
“On completion of this work, the company expects to engage with strategic and joint venture partners to collaborate on delivery of the proposed facility development,” Li-S wrote on Tuesday.
Worth noting: ASX-listed PPK Group is the largest shareholder in Li-S; PPK subsidiary vehicle BNNT Technology Limited is the entity that manufactures nanotubes also used in Li-S’s lithium-sulphur batteries.
LIS last traded at 15.5cps.
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