Kobi Ben-Shabat

ASX-listed battery technology player Ultracharge, has undergone a massive step change, inking a deal to manufacture and supply lithium-ion batteries to a leading Israeli electric scooter manufacturer. Ultracharge will use its unique, inner battery parts technology to produce batteries that are more powerful than those generally available in the market.

UltraCharge Limited has finalised a deal with ETV Energy in Israel, fully acquiring the company’s intellectual property rights to its LNMO battery cathode technology. The assets are a critical component in the manufacture of lithium-ion cells that UltraCharge will produce. The global market for lithium-ion batteries is forecast to reach USD$145.4b by 2025, driven by use in electric vehicles, consumer electronics, power storage and unmanned aerial vehicles.

UltraCharge has formed a joint venture with Indonesia’s PT Garda Persada for the manufacturing and sale of its high powered lithium-ion battery pouch cells in Indonesia and the ASEAN region. Pt Garda will secure firm orders for US$5m worth of batteries from its military clients whilst Ultracharge will invest US$3m to build a new production facility in Jakarta.

UltraCharge has received further validation of its unique, cobalt-free, lithium-ion battery solution after signing a purchase agreement with Israel-based three wheel electric scooter manufacturer Roadix Urban Transportation. The company is contracted to provide a total of 16,500 batteries over a three-year period with the initial 2000 to be delivered in the first year.