Ann: Market Update and Newsletter - July 2022, page-24

“After the success of our 4-layer lithium sulphur (Li-S) cell testing, we built a series of 10-layer Li-S pouch cells with BNNT and Li-nanomesh ready for cycle testing.”

“Our Li-S cells achieved over 2.2x the gravimetric energy density (see page 5 for more detail) compared to the original cells supplied with the drone. This is extremely encouraging as the small 10-layer Li-S cells carry a very high percentage of packaging and ‘dead weight’. As we scale up to commercial cells we expect performance should continue to improve.”

“While there are many steps in our journey towards commercialisation, this early battery test flight ‘step’ was a very special moment.”

“Our Phase 2 equipment has already arrived and is in the process of being commissioned. Once complete, this new set up will enhance our ability to produce multi-layer pouch cells with up to 50 layers for cell testing purposes.”

“We have now started Phase 3 facility design. The 2MWh production line will enable us to produce thousands of high-quality, matched multi-layer pouch cells. Product manufacturers can then be supplied — not only with individual test cells — but with the substantial matched cell volumes needed for extended electrification trials using Li-S Energy batteries.”

Very positive updates from LIS, the 50-layer cells are a critical step toward commercialisation – happening quicker than expected.

Coupled with EGP Capitals 30 April 2022 Update (posted on PPK forum), all is progressing nicely IMO.