Battery startup born out of University of Queensland raises $1.74 million to fuel rapid growth plans

Brisbane startup Pure Battery Technologies has raised $1.74 million to commercialise University of Queensland-developed technology to improve the production of batteries for electric vehicles.

The technology enables the nickel and cobalt minerals required for making batteries to be more easily extracted, and then converted into the components quickly and cheaply.

The technology has been in development at the university since about 2011, however, the startup was launched to start commercialising it in November 2017, when researchers William Hawker and James Vaughan brought new chief executive Bjorn Zikarsky on board.

Hawker and Vaughan are both remaining on at the startup, as chief technology officer and research and development advisor, respectively, although Vaughan is also remaining in his research role at the university.

The funds have been raised from the University of Queensland, as well as several high-net-worth individuals who have not been named.

Zikarsky tells StartupSmart he and the team will use the funds to construct a demonstration plant in Brisbane. The technology is already proven, he says, but this will show customers it will work on a larger scale. Read more

Stephanie Palmer-Derrien - Startup Smart - 19 Nov 2018