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 expertise, with participation from present South 8 buyers LG Expertise Ventures, Foothill Ventures and Anzu Companions.
South 8 is the primary firm to develop a novel liquefied gasoline electrolyte expertise as a safer, increased efficiency various to plain liquid electrolytes. Referred to as LiGas®, the liquefied gasoline electrolyte is straightforward to include into current cell manufacturing processes, makes use of supplies that are all presently 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 appropriate with current 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, notably 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 direction of a greener future.”
“Ahead-thinking, solutions-focused corporations like South 8 Applied sciences are motivated to convey the correct 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 vitality options that improve security and vitality density whereas attaining 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 extensive starting from shopper, business and industrial electrical autos to army protection techniques. Examples embody all the pieces from related battlefields, unmanned aerial autos and subzero energy to all-weather vitality functions for grid storage and energy backup to marine sea monitoring, electrical boats and submarines.
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