Today, Sasol announced a strategic investment of GBP15 million, through Sasol New Energy (SNE), in UK-based OXIS Energy. OXIS Energy, based in Abingdon, in the UK, has developed next-generation battery technology that offers superior energy density to current lithium-ion batteries, as well as being inherently safe. It marks another addition to SNE’s expanding portfolio of new energy technologies required for a growing low-carbon economy.
Successful commercialisation of the polymer lithium sulphur battery technology developed by OXIS Energy could allow safer and more cost effective rechargeable batteries, with substantially higher capacity than currently available technologies, to be produced.
OXIS Energy’s technology has applications in several areas, including applications such as electric-powered transportation, for example in e-bikes, e-scooters, as well as in electric vehicles.
“This strategic investment in OXIS Energy will allow Sasol to apply its extensive experience of commercialising and scaling up chemical processes to assist OXIS Energy in realising the full potential of the technology they have developed. We believe that energy storage will be a critical link in the success of a low carbon mobility value chain,” said Henri Loubser, Managing Director, Sasol New Energy.
Huw Hampson-Jones, Chief Executive Officer OXIS Energy agreed: “Over the last two years, it has become apparent to me that the European and North American energy companies lack the understanding of the significance of the OXIS Energy technological breakthrough, and its impact on the future method of propelling vehicles and energy storage. Sasol fully understands the profound implications of this new chemistry and technology. Together we shall demonstrate this.”
The transaction is subject to approval of the shareholders of OXIS Energy, which is expected during September 2012.
SNE focuses on developing options and new technologies for Sasol to utilise in a carbon-constrained world. It is working to ensure that the group increases internal electricity generation capacity in South Africa using natural gas as a feedstock.
SNE is in the final stages of constructing of a 140MW gas to power facility in Sasolburg, which is expected to be commissioned in the first quarter of the 2013 calendar year. It is also evaluating constructing a similar facility in Mozambique, together with Electricidade de Mocambique (EDM), the state owned electricity utility in that country. A final investment and funding decision is expected in the second half of the 2012 calendar year.
SNE has also invested in the CO2 Technology Centre Mongstad in Norway, where carbon capture technologies are being researched and developed.
last updated: 11 Sep 2012
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