Australian company buys 50% stake in “game-changing” aluminium-graphene battery storage technology

Australian energy technology company LWP Technologies has bought a 50 per cent share in a new, graphene-based battery storage technology that the ASX-listed company believes could “change energy markets and the way the world commutes.”

The $1.6 million deal, described by LWP on Wednesday as a ”major value-adding step” for the company, will see it enter into a joint venture to commercialise the patent pending aluminium-graphene synthesis and battery technology with its Australian-based inventor.

The battery – which comprises an Aluminium-Graphene-Oxygen chemistry – is said to be safer and more stable than lithium-ion batteries, and is shown to have vastly superior energy density.

But perhaps even more significant is the patent that describes the chemical synthesis process to manufacture highest quality graphene on a commercial scale – one of the key barriers to the successful use of graphene in both battery storage applications and in solar cell development.

LWP says funds invested will be spent on developing prototypes for the first of three patents that have been lodged, with an initial focus on the battery technology – including an “ultra fast” rechargeable aluminium-graphene-ion battery.

The JV partners intend to license the technology to battery manufacturers and other industry participants.