Li-S Energy completes first lithium foil sale
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- Li-S Energy completed its maiden commercial sale of Australian-made lithium foil to a local research institution.
- Following the announcement, the company's shares were unchanged at $0.14.
- Final regulatory approvals now allow direct airfreight shipments of prototype lithium-sulphur battery cells to US partners.
Li-S Energy (ASX:LIS) completed its first commercial lithium foil sale while ending the quarter with $15.6 million in cash reserves.
The initial sale to an Australian battery research group marked the company's shift from technology testing into generating commercial revenue.
"While moderate in scale, this first order provides external validation of our foil capability," said Li-S Energy CEO Dr Lee Finniear.
During the June quarter, net operating cash outflow stood at $1.3 million as the Geelong testing facility doubled in floor space.
Following the announcement, the Li-S Energy share price was unchanged at $0.14.
A study is assessing scaling production to one gigawatt-hour annually, backed by a $7.8 million government grant.
The business has also started pressure testing battery cells for uncrewed underwater vehicles and preparing units for drone flight trials.
