The PPK Group Limited (ASX: PPK) share price is surging by more than 8% today following two announcements from affiliates of the company.
Both the investment company's subsidiary, Li-S Energy Limited, and its affiliate, Strategic Alloys Pty Ltd, had good news to share this morning.
Let's take a closer look at what has been announced.
Li-S moving to new, multimillion-dollar manufacturing hub
Li-S has confirmed it will be moving to a new home at Deakin University when a $20 million expansion of the university's Geelong campus is complete.
The PPK subsidiary is in the process of developing its lithium battery insulation technology.
Li-S has announced it plans to work with Deakin to leverage the new technology at its proposed ManuFutures 2 advanced manufacturing hub.
Deakin Professor Iain Martin said the campus is becoming Victoria's epicentre of research and innovation in advanced manufacturing, materials, energy, sustainability and technology.
Yesterday the university announced it will put a $10 million Higher Education State Investment Fund from the Victorian Government towards the expansion, which will double the size of the facility.
Li-S is one of the first confirmed tenants of the new addition.
A new commercialisation strategy for Strategic Alloys
Strategic Alloys is set to have a new line of customers, as its parent company partners with Rio Tinto Limited (ASX: RIO) to develop a supply chain.
Strategic Alloys is owned by three entities – 45% of the company is owned by PPK and 45% is owned by Amaero International Ltd (ASX: 3DA). Deakin University owns the remaining 10%.
Amaero provides Strategic Alloys with the essential ingredients for its High Operating Temperature Aluminium Alloy (HOT AI), while PPK delivers the company with Boron Nitride Nano Tubes (BNNT).
BNNT's are extremely flexible thermal conductors that are chemically stable. They are able to withstand extreme temperatures and are electrical insulators.
Strategic Alloys' latest news is regarding Amaero's partnership with Rio Tinto. Rio Tinto has agreed to provide alloy billets to Amaero to process into powder for 3D printing. The two companies will then work together to scale production of HOT AI domestically and internationally.
PPK Group share price snapshot
At the time of writing, the PPK share price is trading at $5.80, up 8.41% from yesterday's closing price.
Over the past 12 months, the PPK Group share price has risen by more than 96%. However, year to date, the company's shares have fallen by 3.2%.
Based on the current PPK share price, the company has a market capitalisation of around $476 million with approximately 89 million shares outstanding.
