Shell Ventures and Taiyo Nippon Sanso Corp Investments – August 2020
South 8 Technologies, Inc. is thrilled to announce the closing of strategic investments from Shell Ventures and Taiyo Nippon Sanso Corporation (TNSC). This funding follows that of Shell’s early-stage GameChanger program and several federal and state sponsored grant and contract opportunities that have helped mature South 8’s breakthrough Liquefied Gas Electrolyte (LiGasTM) technology. This opportunity also kicks off joint development work with both groups to help accelerate South 8’s path to market.
“South 8’s LiGas technology is the first to tie so strongly together both the rapidly evolving energy storage market with the industrial and specialty gas industry,” said Dr. Cyrus Rustomji, South 8’s co-founder and CEO. “We are very fortunate and honored to have the opportunity to bring together Shell and TNSC, two global leaders in these enormous industries, to work with the South 8 team to deliver our unique energy storage solution to advance a clean energy future.”
New battery technologies are needed to sustain the rapidly growing electric vehicle and grid storage markets as well as enable new products requiring ever more demanding requirements on power systems. With the majority of investments in battery research being focused on solid-state electrolytes, South 8 Technologies is the first to develop a patented Liquefied Gas Electrolyte technology which will increase the energy, power, and safety of battery systems while maintaining much of the same manufacturing infrastructure in place for the Li-ion industry today.
About South 8 Technologies
South 8 Technologies is delivering breakthrough energy storage solutions to advance a clean energy future through the use of novel Liquefied Gas Electrolytes for use in next generation rechargeable and primary lithium metal batteries and electrochemical capacitors. The LiGas technology will enable a wider operating temperature range of -80 to +60 °C, provides up to 80% greater energy, and increases safety at a lower cost. This innovation is designed to power new aerospace and military technologies and serve the growing markets of all-weather grid storage, electric vehicles, and high-atmosphere drones.
About Shell Ventures
Shell Ventures is the corporate venture capital arm of Royal Dutch Shell plc (“Shell”). With major offices in Europe, the USA, India and China, Shell Ventures invests in innovative technology companies, business models and growth plays to further the development of energy solutions and new technologies that have the potential to transform the energy and mobility future. Continuing Shell’s tradition in venture capital since 1996, Shell Ventures focuses on investments within renewable power systems (including solar, wind, connected energy and storage), new fuels for transport (including hydrogen and biofuels), mobility solutions (including e-mobility, connected mobility and freight), oil and gas technologies (including chemicals), and digital innovations where relevant to energy. Shell Ventures co-invests with other corporate investors and venture capital funds and will invest in both early stage and late stage (growth capital) companies.
About Taiyo Nippon Sanso Corporation
TNSC is a global major industrial gas company supplying high purity gases such as, oxygen, nitrogen, argon and specialty gases with advanced gas technologies in a wide range of industrial sectors. Based in Tokyo, the TNSC group has worldwide gas sales channels and production sites in Japan, Asia, Europe and the USA. To expand TNSC’s technological portfolio and penetrate newly emerging and growing markets, such as electronics, additive manufacturing, and energy storage, TNSC is very actively pursuing open innovation through collaboration in business and technological development with leading-edge venture companies. TNSC teams up with South 8 to mature LiGas technology with TNSC’s experience and capabilities regarding handling and supplying of specialty gases. Moreover, TNSC will also join forces to expand South8’s business in Japan, Asia, Europe and the USA through its existing channels by bundling gas supply with South 8’s technology.