Oxis Energy UK Ltd, an Oxford, UK-based maker of Lithium Sulfur cells for battery systems, is to receive a £3.75m investment.
The Aerotec Fund, a Brazilian Private Equity fund focused on Aerospace and advanced manufacturing and anchored by CODEMIG, the Economic Development Company in the state of Minas Gerais in southeastern Brazil (managed by Confrapar), made the investment.
The company, which also received funding from a Korean electronics company and a European battery materials company, will use the funds to open a subsidiary in Brazil, and expand its commercial reach throughout Latin America.
Established in 2005 and led by Huw W. Hampson-Jones, CEO, Oxis has developed, and continues to advance an innovative Lithium Sulfur (Li-S) battery chemistry, cells and systems that do not comprise any rare earth metals, and are suitable for the aerospace and electric bus industries.
The company, which has been granted 108 patents with 108 pending, will also collaborate with CODEMIG in the exploitation of lithium deposits in Minas Gerais.