Australia-listed lithium and flow battery developer UltraCharge has told BBB it is finalising a raise of AUD2.5 million ($1.9m) to boost battery tech investments.
The CEO of Israel-based UltraCharge Kobi Ben-Shabat (pictured) said the cash would be used in part to expand development of titanium dioxide (TiO2) as an alternative to graphite in the anodes of lithium-ion batteries, in a bid to improve fast charging capabilities, lifespan and safety.
The move follows a joint development agreement (JDA) signed last month by UltraCharge through its subsidiary in Israel with Chemours— a US TiO2 technology company— to commercialise TiO2 anode materials production for the growing Li-ion battery market. Ben-Shabat said part of its cash raise would be invested in the JDA project.
In addition, Ben-Shabat said UltraCharge wants to “accelerate” its plans to acquire rights to new cathode intellectual property from another Israeli firm, ETV Energy, which is developing next generation lithium-ion batteries for the automotive and high-end markets. ETV claims its technology includes a LiMnNO cathode that could halve the cost of existing products.
“We are constantly looking for joint ventures and development agreements with potential partners worldwide,” Ben-Shabat said.