PPK and its battery spin-off surge ahead of R&D announcement
PPK and its battery subsidiary Li-S Energy have gone into a trading halt after a big spike in the share price and news of a pending announcement.
Li-S has been developing a breakthrough lithium-sulphur battery with its joint venture partners at Deakin University. If successful, it would provide a battery that was far lighter and with greater energy density than lithium-ion batteries, which would give them the edge in mobile applications like drones and cars.
PPK’s share jumped almost 30 per cent today before a trading halt was called for.
That spike in the share price followed an announcement this morning by Li-S Energy that it was preparing to announce the results of research and development on the battery.
Li-S’s shares went for a 15 per cent jump last week. Its trading halt was to last until Wednesday or until it made its announcement.
Late last year the company signed a memorandum of agreements with US company magniX, which specialises in electric aviation propulsion. It is one of only two companies chosen by MASA to demonstrate electric propulsion.
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Li-S has also been working to scale up its lithium-sulphur batteries as well as its lithium-metal batteries to create suitable cell sizes for its collaboration partners Janus Electric (trucks) and Boeing’s InSitu Pacific which is a preferred supplier to Army for uncrewed aerial systems.
It has also signed non-disclosure agreements with other advanced e-aviation, drone and electric vehicle companies.
