The Li-S Energy Ltd [ASX:LIS] share price is up today after entering into a collaboration agreement with Janus Electric.
Based in NSW, Janus Electric is looking to offer solutions to electrify Australia’s road transport fleets. To that end, it has developed a system that can convert existing heavy diesel prime movers into electric in just under a week.
They’ve also developed a proprietary exchangeable battery system that allows batteries to be swapped in a few minutes, avoiding long waits to recharge at charge stations.
Each of Janus’ exchangeable battery packs has an energy capacity of 600 kWh — the same as six long-range electric cars — and uses conventional lithium-ion cells.
What’s the deal?
Both Janus and Li-S have agreed to collaborate to develop and test lithium sulphur and/or lithium metal battery cells. These will include boron nitride nanotubes (BNNT) and Li-Nanomesh and are to be used in Janus Electric exchangeable battery packs. The goal is to increase vehicle range between battery exchanges and decrease the total weight of each battery pack.
Lex Forsyth from Janus Electric had this to say:
‘Janus Electric is excited to work with Li-S to develop an Australian solution for its quick-change battery packs. Using Australian technology in our products will further support Australian manufacturers and development of zero emission transport solutions making them more accessible to heavy vehicle fleet operators large and small globally.’
Discover our top three ASX-listed pot stocks in 2021. Click here to learn more.
If it all goes according to plan and Li-S energy can provide enough volume supply, Janus is looking to gradually phase out lithium-ion cells and instead buy Li-S energy cells. They expect they will need as many as 495,000 cells (a total of 247.5MWh) by the end of 2023.
Share price up by more than 1% today
Li-S Energy’s share price is up slightly more than 1% after the announcement and trading at $1.99 a share, at time of writing.
The renewable energy transition will need plenty of lithium. If you are interested in lithium stocks, check out our free report ‘Three Lithium ‘Bounce Back’ Stocks for 2021’.
For more information, click here.
Best,
Selva Freigedo,
For Money Morning
PS: Our publication Money Morning is a fantastic place to start on your investment journey. We talk about the big trends driving the most innovative stocks on the ASX. Learn all about it here
