Financing Establishes Relationships with Key Players in Asia-Pacific Energy Storage Markets
Boulder Ionics Corp., producer of high-performance electrolytes and electrochemical-grade ionic liquids for advanced energy storage devices, today announced a $500,000 investment from the Southern Cross Renewable Energy Fund. Proceeds will be used to support a collaborative research program and license arrangement with the Commonwealth Scientific and Industrial Research Organisation (CSIRO), Australia's national science agency, and to create an Australian subsidiary of Boulder Ionics. This new investment complements 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 Boulder Ionics' CEO Dr. Jerry Martin. "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, managing director at Southern Cross. "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 SBCVC Managing Partner Dr. Alan Song. "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."
About Boulder Ionics (www.BoulderIonics.com)
Boulder Ionics Corp. is a rapidly growing producer of high-performance electrolytes and electrochemical-grade ionic liquids for demanding energy storage devices. Founded in 2011, Boulder Ionics is privately held with corporate headquarters and pilot manufacturing facilities near Boulder, Colo. Using its proprietary high-throughput synthesis platform, Boulder Ionics is the first company to manufacture ultra-high-purity ionic liquids at prices that allow for commercial adoption. The company's advanced Iolyte® ionic liquids and electrolytes displace conventional carbonate-based solvents and lithium salts by offering increased safety and broader operating temperatures in applications including ultracapacitors, lithium-ion batteries and next-generation metal-air batteries.
About Southern Cross (www.sxvp.com)
Southern Cross Venture Partners was launched in 2006 by veteran venture capitalists with a history in founding and operating companies in the technology sector. Southern Cross currently has three funds under management: the $A170 million Southern Cross Fund No. 1, the $A40 million Southern Cross IIF Fund and the $A200 million Southern Cross Renewable Energy Fund. We back and assist entrepreneurs to build successful companies with global potential.
About the Southern Cross Renewable Energy Fund
The Southern Cross Renewable Energy Fund, managed by Southern Cross Venture Partners, is a $A200 million, 13-year co-investment arrangement between ARENA and SBCVC.
Established in 2000, SB China Venture Capital is a leading venture capital and private equity firm that manages both USD and RMB funds. Our investment focuses on high-tech, high-growth companies in TMT, clean technology, healthcare, consumer/retail, and advanced manufacturing sectors. With extensive entrepreneurial and operating experiences, our professional and seasoned deal team recognizes the vision and champions the ideas of start-up companies.
About Australian Renewable Energy Agency
Established in 2012, ARENA is an independent agency that invests across the commercialization pathway, from supporting research and development activities, to large-scale technology projects that increase the supply of renewable energy in Australia.