SAN DIEGO--(BUSINESS WIRE)--South 8 Technologies (South 8), a lithium-ion battery innovator, today announced Porsche Ventures, the venture capital arm of the sports car manufacturer, Porsche AG, as its newest strategic investor, joining existing investors Anzu Partners, LG Technology Ventures, Lockheed Martin Ventures, Taiyo Nippon Sanso and Foothill Ventures.
Global lithium-ion battery demand for EVs and stationary energy storage is projected to grow 6x in 12 years: from 950 GWh in 2023 to more than 5,800 GWh in 2035 according to Bloomberg New Energy Finance. Only 4% of the utilized lithium-ion production capacity is based in the United States.
South 8 is leading the U.S. market with an electrolyte solution that directly addresses common pain points of conventional lithium-ion batteries by enhancing range and performance in extreme environments. End-users include customers in EV, defense, aerospace, industrial, marine and stationary storage markets.
“Porsche Ventures is an exceptional addition to our investor syndicate. As the venture capital arm of Porsche, they are keenly in tune with the battery imperatives for next-generation EVs and hybrids,” said Tom Stepien, South 8’s CEO. “With more frequent harsh weather events around the globe, it is increasingly obvious that we need a battery that is optimized for reliable energy performance in extreme climates.”
About South 8 Technologies
South 8 is driving the future of e-mobility with lithium-ion battery innovations. The company pioneered LiGas®, a liquefied gas electrolyte that dramatically improves the energy performance of lithium-ion batteries for next-generation EVs and other industrial applications. Headquartered in California, the company is led by a team of battery technology experts and supported by investors that include Anzu Partners, LG, Lockheed Martin, Shell, Porsche, Taiyo Nippon Sanso and Foothill Ventures. Learn more: www.south8.com
About Porsche Ventures
Porsche Ventures is the venture capital arm of Porsche AG (“Porsche”). Engaging with top entrepreneurs across the globe through offices in Europe, Silicon Valley, Israel and China, Porsche Ventures partners and invests in companies from early stage through growth, helping founders accelerate by identifying and executing relevant opportunities. Learn more: www.porsche.ventures
