Southern Gold Ltd (ASX:SAU) has revealed that its 100%-owned subsidiary, Iondrive Technologies, is a partner in a newly funded research project aimed at developing high-performance nickel-rich layered cathodes for automotive lithium-ion batteries.
Under the partnership, The University of Adelaide and Iondrive will jointly receive A$191,897 from Australia's Economic Accelerator (AEA).
This partnership leverages Iondrive's existing commitments to advancing battery material technologies, making it one of three such projects the company aims to commercialise.
The project is a significant addition to Southern Gold's portfolio, which is traditionally focused on mineral exploration in South Korea.
"Accelerate research"
Commenting on the grant, Iondrive interim CEO Ebbe Dommisse said: “It is pleasing to receive this support from Australia’s Economic Accelerator, with the funding round highlighting just how important research and development in renewable energy and low emissions technologies has become.
"This funding will help IDT and The University of Adelaide accelerate research into high performance nickelrich layered cathodes, which is just one of the projects we are working on as partners.
"This support is crucial to allow new discoveries and developments to continue at a pace that allows us to meet the growing market need.”
Diversification into clean energy
The award comes on the heels of a sizeable A$5 million funding that Iondrive received as a key industry partner for a new ARC Industrial Transformation Training Centre for Battery Recycling.
The fresh injection of funds from the AEA serves to accelerate Southern Gold's diversification into clean energy resources, while also fortifying Australia's position in the global clean energy transition.
Further validating the research, Iondrive general manager Dr JC Tan said: “Australia’s Economic Accelerator (AEA) funding program is a highly competitive grant initiative, with only a very small number of the high-quality applications successful.
"We are proud to be included as one of only 11 Renewables and Low Emission Technologies projects to be selected."
$SAU Southern Gold’s battery recycling technology supported by government grant https://t.co/Ovd5vMn28g @SouthernGoldASX #SAU #ASX #ASXNews— Proactive Australia (@proactive_au) August 15, 2023
"Ground breaking work"
This latest grant is indicative of the growing synergy between academic research and industry in Australia, particularly in the sphere of clean energy and battery technology.
Tan added: "Above and beyond the monetary benefit of the award, this is a boost to our partnership with The University of Adelaide receiving further recognition from the Australian Government regarding the quality of our commercialisation focussed research.
"Backing up the recent $5 million Australian Research Council grant award, this further highlights the strength of our research team and allows us to attract high quality individuals such as Ebbe, who wish to become involved in our ground breaking work.”