Li-S Energy Pty Ltd announced that it has received AUD 20 million in funding from PPK Group Limited, Deakin University, BNNT Technology Limited

Li-S Energy Pty Ltd announced that it has issued 40,000,000 shares at an issue price of AUD 0.50 per share for gross proceeds of AUD 20,000,000 in a pre-IPO round of funding on April 12, 2021. The transaction included participation from Institutional and Sophisticated Investors including PPK Group Limited (ASX:PPK), Deakin University, BNNT Technology Limited and will retain their 48.3%, 20.8%, and 8.3% stakes respectively in the company. The round has been raised at post-money valuation of AUD 300,000,000.

The transaction has been authorised by PPK Group Limited (ASX:PPK)'s board of directors.