Hong Kong-listed battery giant Leoch International Technology has invested in UK-based battery distributor DBS Energy to target sales to the country’s industrial market.
Leoch said the companies had formed a joint venture— DBS Leoch— to “significantly grow its business and become one of the leading suppliers of batteries” to UK industry.
A new equities fund targeting investments in batteries and raw materials to support the development of electric vehicles is reportedly set for launch next month.
The ‘Westbeck Electric Metals Fund’, backed by oil-focused hedge fund company Westbeck Capital Management, aims to raise $100 million in 2018, according to Reuters.
UK firm Connected Energy (CE) has secured a GBP3 million ($4.1m) investment boost for the development of its E-STOR energy storage system that uses 'second-life' lithium-ion electric vehicle batteries.
CE said the cash injection from Australian investment banking company Macquarie Group and French electric utility ENGIE will provide “working capital” to help its “ambitious growth plans in the UK and Europe.”
Hong Kong-listed investment holding company China Innovation has announced plans to buy a stake in Illinois-based battery developer Power Energy Solutions (PES).
Both companies have signed an investment framework agreement, under which China Innovation said it will purchase an undisclosed amount of shares in PES.