Australia-based UltraCharge Limited, a developer of titanium dioxide nanotube gel for Li-ion anodes, has acquired new cathode intellectual property (IP) assets from Israeli company ETV Energy Limited (ETV Energy). ETV Energy has developed a lithium ion battery which contains a high voltage (4.65V) LiMnNO spinel cathode that is half the cost of commercial cathodes.
The ETV Energy battery solution offers advantages in terms of the voltage, energy capacity and power capacity. UltraCharge anticipates greater market opportunities through the ability to license out the cathode IP, the full battery solution and/or combine the high voltage cathode with its own fast charging, longer life span anode to produce a new and improved battery.
Immediate markets for the high voltage cathode include aviation, power bikes and defence, each valued between US$100 – 500 million. The company anticipates revenues within 18 – 24 months.
UltraCharge will acquire the IP assets for US$200,000 and up to 90 million shares, which are dependent on the achievement of specified milestones.