Stock tail (head)Li-S Energy (ASX:LIS) commenced trading on the...

Stock tail (head)

Li-S Energy (ASX:LIS) commenced trading on the ASX today after raising $34 million via an IPO of 40 million shares at $0.85 – and the company is already up a whopping 221%, with shares currently trading at $2.70.

The company is focused on making lithium-sulphur (Li-S) batteries commercially viable by extending their cycle life and creating a genuine alternative to mature lithium-ion (Li-ion) battery technology.

Li-S Energy IPO

Li-S batteries have a theoretical maximum energy density more than 5x that of lithium-ion, which could substantially extend electric vehicle (EV) ranges, drone flight times and device battery life.

CEO Dr Lee Finniear said the success of the IPO is “testament to the market’s understanding of, and enthusiasm for, the breakthroughs we have made to render possible the commercial viability of lithium-sulphur batteries”.

“Ours is a genuine Australian technology success story with global application and the realistic potential to allow EVs to drive further, drones to fly longer and mobile devices to last for days instead of hours,” he said.