Thursday November 21, 2013 0 commentsARVADA - Boulder Ionics Corp., a producer of high-performance electrolytes and electrochemical-grade ionic liquids for advanced energy storage devices, has received a $500,000 investment from the Southern Cross Renewable Energy Fund, the company announced.
Proceeds will be used to support a collaborative research program and license arrangement with the Commonwealth Scientific and Industrial Research Organization (CSIRO), Australia's national science company, and create an Australian subsidiary of Boulder Ionics.
The new investment adds to the company's prior $4.3 million Series A financing round along with grant awards totaling almost $2 million from the National Science Foundation, U.S. Air Force and U.S. Navy.
"Bringing Southern Cross Venture Partners, SB China Venture Capital (SBCVC) and the Australian Renewable Energy Agency (ARENA) into our investor group paves the way for our next round of funding and enhances our ability to establish relationships with the key players in the Asia-Pacific energy storage market," said Dr. Jerry Smith, Boulder Ionics CEO.
"With Southern Cross, SBCVC and CSIRO as part of our team, we are accelerating our commercialization of advanced electrolytes for next-generation energy storage devices."
"With offices in Silicon Valley and Sydney, Southern Cross Venture Partners is uniquely positioned to facilitate this collaboration between Boulder Ionics in the U.S. and Australia's national industrial research organization, CSIRO," said John Scull, Southern Cross' managing director.
"Furthermore, our strategic partnership with SBCVC in Shanghai sets up an opportunity to help bridge the company into Asia."
"SBCVC is excited to partner with Boulder Ionics and CSIRO as part of this initial investment," said Dr. Alan Song, SBCVC managing partner. "The opportunities for production and distribution of advanced lithium battery chemistries in China are huge. SBCVC's deep networks across the region can help the company to quickly expand its potential market."