Lithium sulfur pioneer Oxis Energy faces bankruptcy

May 21, 2021 // By Nick Flaherty
Lithium sulfur pioneer Oxis Energy faces bankruptcy
UK lithium sulfur battery pioneer Oxis Energy is in administration, facing bankruptcy if a buyer can’t be found.

Simon Girling and Christopher Marsden at BDO were appointed Joint Administrators of lithium sulfur battery pioneer Oxis Energy on 19 May 2021.

Oxis Energy, based on the Culham Science Centre in Oxfordshire, has raised over £3.8m for the development of the technology since its founding in 2005 according to Crunchbase but had over £50m in project and partnership funding. This includes £3.75m from Brazilian firm Aerotec GB and funding from a Korean electronics company and a European battery materials company. DBW Investment has a claim on the patents, properties and equipment of the company and the accounts for 2019 are two months overdue. 

Oxis has 44 patent families with 214 patents granted and 106 pending. The patents cover electrolyte systems for lithium sulfur cells, methods of lithium sulfur cell construction and also positive and negative electrodes. The technology has a higher energy density and is inherently safer than lthium ion cells.

The move comes as acquisitive US photonics. power and materials group II-VI enters the market with LiS technology (see below).

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Just last month it was promising to deploy solid-state Lithium Sulfur (LiS) cell and battery systems to its clients and partners worldwide by Autumn 2021 for use in trials, proof of concept and demonstrator battery systems for the Aviation, Marine, Defence and Heavy electric Vehicles (HEV) sectors. Oxois was ready to ship cells to Bye Aerospace which has developed an 8-seater electric aircraft and Bye was also working with Safran in France on an electric aircraft design.

Oxis had partnered with Minas Gerais Development Company (CODEMGE) in Brazil on a plant at the Mercedes site in Juiz de Fora using materials produced at a factory in South Wales, and had plans for global production of LiS battery cells for trucks and electric aircraft.

www.oxisenergy.com

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