Sasol Limited : Sasol invests in OXIS Energy, the next –generation battery technology
Sasol invests in OXIS Energy, the next -generation battery
09/11/2012| 05:35am US/Eastern
10 September 2012
Today, Sasol announced a strategic investment of GBP15
million, through Sasol New Energy (SNE), in UK-based OXIS
Energy. OXIS Energy, based in Abingdon, in the UK, has
developed next-generation battery technology that offers
superior energy density to current lithium-ion batteries, as
well as being inherently safe. It marks another addition to
SNE's expanding portfolio of new energy technologies required
for a growing low-carbon economy.
Successful commercialisation of the polymer lithium sulphur
battery technology developed by OXIS Energy could allow safer
and more cost effective rechargeable batteries, with
substantially higher capacity than currently available
technologies, to be produced.
OXIS Energy's technology has applications in several areas,
including applications such as electric-powered
transportation, for example in e-bikes, e-scooters, as well
as in electric vehicles.
"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 technology they have developed. We
believe that energy storage will be a critical link in the
success of a low carbon mobility value chain," said Henri
Loubser, Managing Director, Sasol New Energy.
Huw Hampson-Jones, Chief Executive Officer OXIS Energy
agreed: "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 transaction is subject to approval of the shareholders of
OXIS Energy, which is expected during September 2012.
SNE focuses on developing options and new technologies for
Sasol to utilise in a carbon-constrained world. It is working
to ensure that the group increases internal electricity
generation capacity in South Africa using natural gas as a
SNE is in the final stages of constructing of a 140MW gas to
power facility in Sasolburg, which is expected to be
commissioned in the first quarter of the 2013 calendar year.
It is also evaluating constructing a similar facility in
Mozambique, together with Electricidade de Mocambique (EDM),
the state owned electricity utility in that country. A final
investment and funding decision is expected in the second
half of the 2012 calendar year.
SNE has also invested in the CO2 Technology Centre Mongstad
in Norway, where carbon capture technologies are being
researched and developed.