The federal government has simultaneously given grants to three start up companies that are subsidiaries of a single publicly listed company.
PPK Group announced today that three of its subsidiaries had secured grants under the government’s Trailblazer University Program as part of Geelong’s Deakin University Renewable Energy Commercialisation Hub (REACH):
- Lithium sulphur battery technology company Li-S will receive up to $5 million in co-investment from Canberra over the next four years to accelerate R&D
- Boron nitride nanotube manufacturer BNNT will receive up to $1 million in co-investment to further scale up manufacturing capabilities
- And clear graphene producer White Graphene will receive up to $500,000 in co-investment to scale up production of boron nitride nanosheets.
PPK Group is the technology innovator headed by mining equipment entrepreneur Robin Levison.
PPK has been exiting its traditional businesses in mining equipment manufacturing, entering into a series of joint ventures with Deakin and its Institute for Frontier Materials.
The company’s core technology is producing boron nitride nanotubes which while similar in concept to carbon fibre nanotubes, have different properties.
The company was valued this morning by the stock market at $261 million, its shares having fallen from a 52 week high of $21.95 to today’s $2.86.
50 percent owned subsidiary Li-S shares have been separately valued at $355 million.
Image: PPK Group/white graphene
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