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Safran acquires stake in Li-Sulfur battery maker OXIS Energy; OXIS announces two JDAs

Safran acquired an equity interest in Li-Sulfur battery manufacturer OXIS Energy (earlier post) through its Safran Corporate Ventures subsidiary, which invests in disruptive technology businesses.

OXIS Energy, a leader in lithium-sulfur cell technology for high energy density battery systems, has already been granted 173 patents with 96 pending. Benefiting from more than 15 years of R&D in the field of lithium-sulfur chemistry, interest in its work from different industry sectors is growing significantly.

Energy_graph

Source: OXIS Energy.

Safran Corporate Ventures is participating in a £7-million (US$9.1-million) round of fresh funding alongside Aerotec and new investors, including Arkema. The investments made by these companies take the total capital raised to just under £24 million (US$31.3 million) and include Samsung Ventures which contributed to the fund in December 2016.

The capital raised will be used to commercialize and to automate the process of mass production of rechargeable Lithium-Sulfur cells/modules, using state of the art digital manufacturing machinery for worldwide distribution to manufacturers of vehicles. OXIS intends to focus on the aviation, defense and the heavy electric vehicles markets, such as buses and trucks.

Potential benefits for new hybrid and electric propulsion solutions on tomorrow’s airplanes. Simultaneously, OXIS announced the signature of two Joint Development Agreements with its partners. First, Safran and OXIS will cooperate on high energy density battery cells for the aviation industry.

Second, Arkema and OXIS have defined a common roadmap to further improve battery lifetime and energy density.

Safran is an international high-technology group, operating in the aircraft propulsion and equipment, space and defense markets. Safran Corporate Ventures is Safran’s venture capital arm, tasked with funding innovative technology businesses and startups. Since being founded in April 2015, it has contributed financing to nine innovative companies active in sectors related to Safran’s businesses (Industry 4.0, onboard components, new materials, new services, new flying platforms).

Comments

Lad

In Production? When?

SJC

Good to see meaningful work get funded.

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