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Oxis Energy, a U.K.-based developer of lithium-sulfur (Li-S) batteries for applications including electric aircraft, has entered into administration and is selling off its patents.
The company confirms on its website that authorized insolvency practitioners Simon Girling and Christopher Marsden, both of the accountancy and business advisory firm BDO LLP, were appointed joint administrators of Oxis on May 19.
In a press release provided to eVTOL.com, BDO confirmed that the majority of Oxis Energy’s 60 employees based in Oxfordshire and South Wales have been made redundant, as was first reported by the electric mobility website Electrive.com.
“The company was unable to secure the investment required to continue its product development,” Girling stated in the release. “However, we are hopeful of obtaining a sale of the company’s specialist testing equipment, together with approximately 200 patents held by the company, and the opportunity remains for an acquirer to purchase these assets in situ at an internationally acclaimed testing center, and separate R&D facility.”
Oxis Energy’s 43 patent families cover quasi-solid state battery technology, electrolyte systems for Li-S cells, methods of Li-S cell construction, and positive and negative electrodes. Interested parties should should contact Doug Cecil at BDO by May 28, 2021.