3ME secures Rixon Capital loan

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.


Leave a Reply

Not registered? Register Now

Powered By MemberPress WooCommerce Plus Integration