Redox flow battery EV maker nanoFlowcell is planning a stock market flotation on the back of a major restructuring process.
The firm has moved base from Lichtenstein to Stans in Switzerland. Meanwhile, a new administrative holding company, nanoFlowcell Holdings Ltd, has been founded in London, which will take on all future business transactions.
NanoFlowcell’s technology involves an electrolyte liquid called bi-ION developed by nanoFlowcell Research. It can be used in automobiles, aircrafts, ships and railways as well as in stationary applications such as emergency response systems.
Nunzio La Vecchia, member of the administrative board and chief technology officer of nanoFlowcell Holdings, claimed the technology can reduce the costs of running a vehicle by up to 40%.
The firm’s website says its energy storage solution uses the properties of nanofluids and flow batteries. It also claims that the technology is level with modern lithium-ion accumulators in energy density, but is also "safer" and "environmentally compatible".
La Vecchia said: “With a stock market listing, we would raise awareness for nanoFlowcell technology. [...]The flotation is less about accessing new financial resources – which are not strictly necessary for our continued growth – and far more about securing our corporate independence in respect of how we research, develop and market nanoFlowcell technology.”
Further details on the stock market flotation will be provided by the company in the coming months.
La Vecchia also said the nanoFlowcell technology would be brought to the market “shortly as a licensing product”.