Hong Kong-based Lithium Energy (HK) Technology (LiET) is close to finalize an agreement that may secure up to $20m in funding.
According to a note, the company has been in negotiations with a private equity group since February 2016 and “an end to negotiations looks in sight“.
Lithium Energy (HK) Technology (LiET) would use the funds for additional development.
Led by President and Chief Executive Officer Henry Chan, Lithium Energy (HK) Technology (LiET) is commercializing a new, environmentally friendly, low-cost battery that overcomes many of the problems of lithium ion batteries (LIBs) and aims to significantly enhance the performance of portable electronic devices, electric vehicles and renewable energy storage systems.
FinSMEs
05/07/2016