Australian mining and defence electric vehicle battery maker 3ME Technology has secured a A$5 million working capital facility with Sydney-based Rixon Capital.
The New South Wales Hunter region manufacturer says its modular, energy-dense, lithium-ion batteries are particularly suited to underground mine vehicles.
The Australian Business Growth Fund and Clean Energy Finance Corporation backed a A$20 million equity fund-raising by 3ME in October 2021.
Rixon provides loans up to $20 million over 1-3 years for growth, mergers and acquisitions, and asset finance.
“Rixon Capital is proud to fund an Australian green technology business at the forefront of an emerging industry,” the firm said.