Sasol, a South Africa-listed energy company, has invested £15m ($22m) for a minority stake in Oxis Energy, a UK-based rechargeable battery maker for electric bikes and cars.
Henri Loubser, managing director of Sasol New Energy (SNE), said: “This strategic investment in Oxis Energy will allow Sasol to apply its extensive experience of commercialising and scaling up chemical processes to assist Oxis Energy in realising the full potential of the [polymer lithium sulphur, Poly Li-S, battery] technology they have developed. Energy storage will be a critical link in the success of a low carbon mobility value chain.”
Huw Hampson-Jones, chief executive at Oxis Energy (formerly known as IntelliKraft), added: “Over the last two years, it has become apparent to me that the European and North American energy companies lack the understanding of the significance of the Oxis Energy technological breakthrough, and its impact on the future method of propelling vehicles and energy storage. Sasol fully understands the profound implications of this new chemistry and technology. Together we shall demonstrate this.”
The SNE investment in Oxis follows US-based peer Sion Power (formerly known as Moltech), which also uses Poly Li-S technology for its batteries having spun off from Brookhaven National Laboratories in 1994, receiving $50m in January from Germany-based chemicals company BASF’s corporate venturing unit. Sion batteries are used in unmanned air vehicles developed by the UK government’s defence research spin-off, Qinetiq.
After being spun out of the Ufa Research institute in the Urals, Russia, in 2004, Oxis has raised angel money from Klaus Lovgreen, Ken Pelton and Alistair Milne and was supported by the Carbon Trust – TTP Incubator, which provides a portfolio of consulting services to accelerate the development of start-up and early-stage businesses in the low carbon sector.
Oxis’ batteries are to be used in Netherlands-based QWIC Hartmobile’s electric scooters expected go on sale next year and into Norway-based Engbo Innovation’s electric boats in 2014. Its batteries are already being used by France-based Induct’s electric buses.
SNE has also invested in the CO2 (carbon dioxide) Technology Centre Mongstad in Norway, where carbon capture technologies are being researched and developed.
Law firm Baker Botts represented Sasol in the deal.