ReNu Energy has completed its third tranche investment in battery casing technology company Vaulta Holdings valued at $250,000 through the exercise of options from the first two tranches made in January and April.
The latest investment means ReNU Energy holds approximately 15 per cent of Vaulta’s issued shared capital. The exercise of the remaining options on or before 13 October for $250,000 will increase ReNu’s interest in Vaulta to approximately 20 per cent, the company said in an ASX announcement.
The latest investment will enable Vaulta to scale its manufacturing capability and target further sales domestically and into the Asia Pacific and North American markets.
Funding will be directed to scaling Vaulta’s manufacturing capability and expanding domestic and offshore sales.
Brisbane-based Vaulta’s workforce has more than doubled since ReNu’s initial investment and has enhanced quality through progressing ISO9001 certification. The company also began certifications for battery standards IEC62619 and UN38.3.
In July, Vaulta’s operations will expand to a dedicated manufacturing facility in Northgate Brisbane at the Advanced Robotics for Manufacturing Hub. The company has received a strong response to its residential expression of interest campaign with battery installations expected to commence from August 2023.
Vaulta continues to develop its thermally conductive and electrically insular polymer and garner international interest. Aside from expanding domestic and international sales in stationary battery storage, the company’s plans for 2023/24 include evaluating development opportunities in aerospace, road mobility, defence and consumer products.
Vaulta has developed and patented technology for battery disassembly, enabling the replacement or re-purposing of individual cells leading to less battery waste and reduced landfill. Its proprietary no-weld design modules means modules can be easily assembled and disassembled, cells replaced, reused, and recycled.
The latest Vaulta investment marks the fifth in ReNu Energy’s portfolio of renewable and clean energy investments, providing the latter with exposure to a technology solution that reduces the creation of battery waste.
