South 8 Applied sciences Secures Strategic Funding from Lockheed Martin Ventures
South 8 Applied sciences, the Cleantech San Diego firm innovating safer and better efficiency electrolytes for the following era of lithium-ion batteries, has closed a strategic funding with Lockheed Martin Ventures, the enterprise arm of Lockheed Martin (NYSE:LMT), a world chief in protection and aerospace know-how, with participation from present South 8 traders LG Expertise Ventures, Foothill Ventures and Anzu Companions.?
South 8 is the primary firm to develop a novel liquefied gasoline electrolyte know-how as a safer, larger efficiency various to plain liquid electrolytes. Referred to as LiGas®, the liquefied gasoline electrolyte is easy to include into current cell manufacturing processes, makes use of supplies that are all at the moment manufactured globally at scale and affords easy recyclability on the finish of life. LiGas improves security, will increase vitality density, achieves all-weather efficiency, permits fast-charge functionality and reduces prices whereas additionally being suitable with current lithium-ion cell manufacturing or Gigafactory manufacturing processes and provide chains.
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“The distinctive efficiency capabilities of the LiGas electrolytes are an enabling know-how for more and more aggressive buyer necessities, notably these set forth by the aerospace and protection industries,” mentioned Cyrus Rustomji, CEO for South 8 Applied sciences. “We’re excited to obtain Lockheed Martin’s help as we proceed to enhance battery know-how, attain new markets and lead the transition in the direction of a greener future.”
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“Ahead-thinking, solutions-focused firms like South 8 Applied sciences are motivated to deliver the precise options to our clients,” mentioned Chris Moran, vp and basic supervisor of Lockheed Martin Ventures. “We hope to leverage South 8’s LiGas know-how to supply vitality options that enhance security and vitality density whereas attaining all-weather efficiency, enabling higher discipline efficiency.”
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As a result of LiGas maintains wonderful operation at each high and low temperatures starting from -60 to +60 levels Celsius, the use instances are broad starting from shopper, industrial and industrial electrical autos to navy protection programs. Examples embody every part from linked battlefields, unmanned aerial autos and subzero energy to all-weather vitality purposes for grid storage and energy backup to marine sea monitoring, electrical boats and submarines.
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