South 8 Technologies, a San Diego, CA-based cleantech company providing performance electrolytes for lithium-ion batteries, received an investment from Lockheed Martin Ventures, and current investors LG Technology Ventures, Foothill Ventures and Anzu Partners.
The amount of the deal was not disclosed.
The company intends to use the funds to expand operations and its business reach.
Led by CEO Cyrus Rustomji, South 8 Technologies has developed a novel liquefied gas electrolyte product, LiGas®, to empower lithium-ion batteries, which is simple to incorporate into existing cell production processes, utilizes materials which are all currently manufactured globally at scale and offers simple recyclability at the end of life. LiGas improves safety, increases energy density, achieves all-weather performance, enables fast-charge capability and reduces costs while also being compatible with existing lithium-ion cell production or Gigafactory manufacturing processes and supply chains.
The cleantech company’s Series A round of $12m was led by Anzu Partners with participation from LG Technology Ventures, Shell Ventures, Foothill Ventures and Taiyo Nippon Sanso.
FinSMEs
16/08/2023