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 subsequent era of lithium-ion batteries, has closed a strategic funding with Lockheed Martin Ventures, the enterprise arm of Lockheed Martin (NYSE:LMT), a worldwide chief in protection and aerospace know-how, with participation from present South 8 traders LG Know-how Ventures, Foothill Ventures and Anzu Companions.
South 8 is the primary firm to develop a novel liquefied gasoline electrolyte know-how as a safer, greater efficiency different to straightforward liquid electrolytes. Often known as LiGas®, the liquefied gasoline electrolyte is straightforward to include into present cell manufacturing processes, makes use of supplies that are all presently manufactured globally at scale and gives easy recyclability on the finish of life. LiGas improves security, will increase power density, achieves all-weather efficiency, permits fast-charge functionality and reduces prices whereas additionally being appropriate with present lithium-ion cell manufacturing or Gigafactory manufacturing processes and provide chains.
“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 assist as we proceed to enhance battery know-how, attain new markets and lead the transition in the direction of a greener future.”
“Ahead-thinking, solutions-focused corporations like South 8 Applied sciences are motivated to deliver the appropriate options to our prospects,” mentioned Chris Moran, vp and normal supervisor of Lockheed Martin Ventures. “We hope to leverage South 8’s LiGas know-how to offer power options that enhance security and power density whereas attaining all-weather efficiency, enabling higher discipline efficiency.”
As a result of LiGas maintains wonderful operation at each high and low temperatures starting from -60 to +60 levels Celsius, the use circumstances are huge starting from shopper, business and industrial electrical automobiles to army protection techniques. Examples embrace every little thing from linked battlefields, unmanned aerial automobiles and subzero energy to all-weather power functions for grid storage and energy backup to marine sea monitoring, electrical boats and submarines.
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