South 8 Technologies, a San Diego, California-based developer of electrolyte formulations for next-generation lithium batteries, raised $12M in Series A financing.
The round was led by Anzu Partners with participation from LG Technology Ventures, Shell Ventures, Foothill Ventures, and Taiyo Nippon Sanso Corporation (TNSC).
The company will use 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.
Led by Cyrus Rustomji, Ph.D., CEO, South 8 has developed LiGas electrolyte technology that offers a new approach to next-generation lithium batteries and addresses the shortcomings of existing liquid electrolytes and solid-state batteries that are still under development. Its 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 these benefits, South 8’s LiGas electrolytes can address an entirely new class of batteries for emerging market applications such as electric vehicles, all-weather grid storage, defense, renewable energy, aerospace, and more.
South 8 Technologies began operations in 2016 as a spin out of UC San Diego where the founding team developed its breakthrough new Liquefied Gas Electrolyte (LiGas®) chemistry for next-generation lithium batteries.
FinSMEs
27/04/2022