Funding to drive commercialization of novel technology that could increase cell voltage and reduce thermal runaway risk in batteries targeting electric vehicles, all-weather grid storage and defense/aerospace products.
South 8 Technologies, a UC San Diego spinout that has developed a novel way to boost voltage and improve safety in lithium batteries, said Tuesday that it has raised $12 million in a first round of venture capital funding.
The 15-employee company will use the money to get more prototype cells with its Liquefied Gas Electrolyte — or LiGas — technology into the hands of outfits working on electric vehicles, all-weather grid storage, aerospace and defense products and renewable energy. “With the battery and auto industries placing big bets on a relatively narrow set of potential breakthrough innovations, we are offering a truly unique and much more practical alternative technology to stakeholders and customers who need a safer and higher performing lithium battery solution than is currently available,” said Cyrus Rustomji, a Ph.D. and chief executive/co-founder of the company.
South 8 sprang out of a university research project to improve lithium battery performance in extremely cold temperatures. The method scientists discovered, however, works across all temperatures and potentially could enable higher voltage cells, avoid thermal runaway, reduce costs and encourage recycling, according to the company.
South 8 key invention replaces the liquid electrolyte in lithium batteries — often a lithium salt solution — with gases that liquify under pressure. Rustomji likens the technology to how propane works in backyard barbecues.At room temperature and normal pressure, propane is a gas. “But you can liquify it under a moderate amount of pressure and store it in a tank under your barbecue,” he said.
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