Christchurch-based innovators are developing a new-type of technology to be used in lead acid batteries designed for hybrid vehicles.
ArcActive's chief executive Stuart McKenzie says conventional lead-acid batteries can't cope with the start-stop nature of hybrid cars and only last a matter of weeks.
Mr McKenzie says many other firms hoping to tap into the fast-growing battery market but ArcActive's technology is very low cost, so he hopes it wins out over other new technologies.
ArcActive has so far raised about $3 million from New Zealand investors. Canterbury University remains one of its significant shareholders.
It's also received about $1.5 million in tazpayer funding.
ArcActive's technology recently won the award for excellence in the field of environmental technology research at the CleanEquity conference in Monaco.