A European energy company has been recognized by Frost & Sullivan for its innovative battery technology that will offer a lighter-weight package and improve safety over lithium-ion batteries, according to the firm.

OXIS Energy earned the 2014 European Frost & Sullivan Award for Technology Innovation for developing a technology based on lithium-sulfur battery chemistry.

This lightweight battery technology offers energy density greater than 300 Wh/kg, and enhanced safety chemistry that prevents fires and retains functionality even after accidents, according to a Frost & Sullivan release.

The weight reduction makes the technology ideal for electric vehicles. For specific military applications, can reduce battery weight by more than 50 percent, according to the company. OXIS Energy plans large-scale production of the battery technology to bring the price in line with lithium-ion battery technology.

"OXIS Energy's lithium-sulfur battery has long lifecycles," said Avimanyu Basu, a Frost & Sullivan senior research analyst. "Its premium product, which will be launched in two to three years, is expected to successfully achieve 2,000 cycles before the capacity reduces to 80 percent of its beginning-of-life."