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 expertise, 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 fuel electrolyte expertise as a safer, increased efficiency different to straightforward liquid electrolytes. Often called LiGas®, the liquefied fuel electrolyte is easy to include into present cell manufacturing processes, makes use of supplies that are all at the moment manufactured globally at scale and gives easy recyclability on the finish of life. LiGas improves security, will increase power density, achieves all-weather efficiency, allows 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 expertise for more and more aggressive buyer necessities, significantly these set forth by the aerospace and protection industries,” stated Cyrus Rustomji, CEO for South 8 Applied sciences. “We’re excited to obtain Lockheed Martin’s help as we proceed to enhance battery expertise, 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 proper options to our clients,” stated Chris Moran, vp and normal supervisor of Lockheed Martin Ventures. “We hope to leverage South 8’s LiGas expertise to offer power options that enhance security and power density whereas reaching all-weather efficiency, enabling higher area efficiency.”
As a result of LiGas maintains glorious operation at each high and low temperatures starting from -60 to +60 levels Celsius, the use circumstances are vast starting from client, business and industrial electrical autos to army protection techniques. Examples embody every thing from linked battlefields, unmanned aerial autos 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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