JOHANNESBURG - Mining company Anglo American Platinum said on Monday it and Platinum Group Metals Ltd had launched a new venture, Lion Battery Technologies, to accelerate the development of next-generation battery technology using platinum and palladium.
"The possibility of creating additional demand for platinum and palladium in the battery technology space is an exciting development and of strategic importance to both parties," Amplats said in a statement.
"The new venture, Lion, has entered into an agreement with Florida International University to further advance a research programme that uses platinum and palladium to unlock the potential of Lithium Air and Lithium Sulfur battery chemistries to increase their discharge capacities and cyclability."
It said Lion would have exclusive rights to all intellectual property developed and would lead all commercialisation efforts.
Lion was also reviewing several additional and complementary opportunities focused on developing next-generation battery technology using platinum and palladium.