PPK’s acquisition of stake in PowerPlus now unconditional

Technology commercialisation company PPK Group announced on Friday morning that an agreement to take a 33 per cent stake in battery company PowerPlus Energy, announced last month, is now unconditional.

Melbourne-based PowerPlus is a maker of lithium ferro phosphate (LFP) stationary storage batteries.

The material interest in the company was complementary to its battery business, PPK said, which is commercialising lithium sulphur battery technology developed at Deakin University.

“PowerPlus Energy’s onshore manufacturing is an Australian success story with clear synergies with our existing investment in Li-S Energy,” explained PPK Chairman Robin Levison in a statement.

PPK said it expects to complete that transaction on May 3, and will subscribe for newly-issued shares in PowerPlus Energy, “thereby taking its total shareholding to 51 [per cent]”.

PPK’s portfolio companies include Li-S, BNNT Technology, White Graphene, Craig International Ballistics, and Advanced Mobility Analytics Group.

Picture: credit PowerPlus

Further reading

OUR SEARCH FOR AUSTRALIA’S MOST INNOVATIVE COMPANIES – HOW PPK WENT FROM MINING TO CUTTING EDGE MANUFACTURING

PPK GROUP BUYS INTO LITHIUM BATTERY MAKER