Battery tech startup South 8 Technologies raises $12 million in series A funding
South 8 will leverage the funding to accelerate the commercialization of its patented Liquefied Gas Electrolyte (LiGas) technology for high-performance batteries for electric vehicle, grid storage, aerospace, and defense applications
South 8 Technologies, a pioneer in electrolyte formulations for next-generation lithium batteries, announced it has raised $12 million in Series A financing, led by Anzu Partners with participation from LG Technology Ventures, Shell Ventures, Foothill Ventures, and Taiyo Nippon Sanso Corporation (TNSC). South 8 will leverage the funding to accelerate the commercialization of its patented Liquefied Gas Electrolyte (LiGas) technology for high-performance batteries for electric vehicle, grid storage, aerospace, and defense applications.
South 8’s LiGas electrolyte technology offers a unique approach to next-generation lithium batteries and addresses the shortcomings of existing liquid electrolytes and solid-state batteries that are still under development. Unlike common battery electrolytes that are liquid at room temperature, or solid-state electrolytes, South 8’s non-toxic LiGas technology uses solvents that are normally gaseous at standard pressure and room temperature but may be liquefied under pressure and used as an electrolyte within the cell.
“With the battery and auto industries placing big bets on a relatively narrow set of potential breakthrough innovations, we are offering a truly unique and much more practical alternative technology to stakeholders and customers who need a safer and higher performing lithium battery solution than is currently available,” said Cyrus Rustomji, Ph.D., CEO of South 8 Technologies. “This new financing from such a strong group of investors will allow us to further our product development and foster new industry partnerships to bring this technology to the world.”
"South 8's technology can power new market applications by solving traditional challenges around safety, manufacturability and more that has limited battery technologies for decades,” said Robert McIntyre, Managing Director at LG Technology Ventures. “By removing the threat of thermal runaway reactions or thermal propagation, South 8’s technology significantly increases Li-ion safety and offers high compatibility with today's most common electrode materials and manufacturing techniques. These new capabilities provide access to an increased number of applications across relevant industries previously hindered by Li-ion performance and safety."
“As we continue to see growth in electrification of transportation and renewables uptake, there is a critical focus on safety and performance in advanced battery technologies,” said Jimmy Kan, Ph.D., Principal, Anzu Partners. “With LiGas, South 8 has demonstrated a technology that finally breaks the tradeoffs that the industry has had to make for years, enabling lithium-ion battery producers and automotive companies to access higher performing, inherently safe batteries without compromising on electrode materials selection or manufacturability.”
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