The Li-S Energy Ltd (ASX: LIS) share price is charging up during early Thursday afternoon trade.
This comes after the lithium-sulphur battery company provided a positive update to the ASX, exciting investors.
At the time of writing, Li-S Energy shares are swapping hands at 62 cents, up 6.9%.
Li-S Energy joins Future Battery Industries Cooperative Research Centre
The Li-S Energy share price is on the move following the company’s latest announcement.
In today’s statement, Li-S Energy advised it has joined the Future Battery Industries Cooperative Research Centre (FBICRC).
Established in 2019, FBICRC is a partnership of industry, government, and researchers on battery technologies. The centre has 70 participants across 15 research projects, collaborating to ensure Australia plays a role in battery evolution.
Li-S Energy stated this will “help it leverage co-funded R&D on advanced electrolytes for Lithium Metal and Lithium Sulphur batteries.”
According to FBICRC CEO Shannon O’Rourke, global battery demand is expected to accelerate nine to 10-fold over the next decade.
Li-S Energy CEO, Dr Lee Finniear commented on delivering lithium sulphur and lithium metal batteries with unmatched performance and cycle life:
These batteries are the “holy grail” of EV, drone and electric aviation markets, combining high energy storage and low weight.
Our collaboration with FBICRC accelerates our time to market by enabling us to access advanced electrolytes developed specifically for these high energy cells, further magnifying the benefits over lithium-ion.
About the Li-S Energy share price
Since listing in September 2021 at a price of 85 cents, Li-S Energy shares have continually fallen.
They hit an all-time high of $3.05 on the day of listing. But the positive investor sentiment was short-lived. The Li-S Energy share price has since declined by 80%. When looking at the year to date, Li-S Energy shares are down by almost 60%.
On valuation grounds, Li-S Energy commands a market capitalisation of roughly $371.3 million.