Australian company VSPC (Very Small Particle Company) Ltd has received $2.09 million in funding via the Federal Government’s Green Car Innovation Fund to accelerate the final development if its nano-scale cathode materials.

Small technology with the potential to make big changes

VSPC’s nano-scale cathode materials, produced using the company’s patented manufacturing process, enables electric vehicles to be re-charged in about the same time as it takes to fill a tank of petrol.

The company will develop nano-scale lithium ion phosphate (LFP) for use in better performing, safer, more environmentally friendly and faster recharging batteries for hybrid and electric cars. The Federal funding will be used to optimise VSPC’s technology to enable manufacturing to be scaled up to commercial production levels.

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The new batteries mean that drivers will no longer have to recharge overnight or swap batteries to keep on the road.

This dramatic shift will result in a more environmentally friendly and effective rechargeable battery for all drivers to use.

The use of VSPC’s nano-scale cathode materials can greatly enhance battery performance and these materials can account for up to 40 per cent of the cost of a battery.

VSPC’s technology has already received significant international attention from the world’s automotive industry and battery manufacturers, all of which are pushing for market leadership in the development of electric vehicles that are cheaper to run, safer and more reliable.

Almost every major car manufacturer has an electric vehicle either in production or due for release in the next five years and VSPC’s materials will enhance the evolution of electric vehicles and increase accessibility for drivers globally.

David MacInnes, Chief Executive Officer of VSPC, says: “Our vision is to install LFP batteries in electric cars throughout Australia and around the world. By thinking globally and acting locally, each petrol fuelled car that is replaced on the roads by an electric car will reduce greenhouse gas emissions by up to 90 per cent per vehicle, whilst reducing fuel consumption by up to 100 per cent” said David.

$6.2 million to take the weight off the road

Also through the Green Car Innovation Fund, four projects have received a total of $6.2 million in funding.

Automobile component manufacturers CFusion, Toyoda Gosei Australia, Composite Materials Engineering and Hirotec were all awarded the funding, with the combined objective to reduce greenhouse gas emissions and fuel consumption.

Federal Innovation Minister Senator Kim Carr says: “The components being developed to retool our automotive industry will help cars that are friendlier on the environment and the pocket — in this case, we expect the four projects will reduce greenhouse gas emissions by around 133,000 tonnes and significantly reduce fuel consumption.”