Electrical energy storage developer Superdielectrics is set to list in London in the coming weeks, in hopes of boosting its valuation to £350m.
The company is also intending to raise £20m in the December float, to help develop tech to build “environmentally benign” electrical energy storage devices for the sustainable energy and transport system push.
“We believe this is a vital development in cleantech because energy storage enables companies and countries to meet their net zero targets via the removal of intermittency risk in key forms of renewable energy,” CEO Jim Heathcote said.
“At its fullest potential, the technology could challenge existing battery technologies, not just on performance but also on cost.”
Backed by billionaire Michael Spencer, FTSE 100 ICAP boss and former Tory treasurer, the group has patented new polymers that can be used as electrolytes in supercapacitors, which bridge the gap between electrolytic capacitors and rechargeable batteries.
Directors forecast that the first commercial prototype supercapacitor will open the route to beginning licensing negotiations – which is expected to occur between 2023 and mid-2025.
The CEO added that the company’s is “100 per cent focused” on the UK, and the rest of the world’s, transition to net zero within the energy sector.