Boulder Ionics Corp., producer of high-performance electrolytes and electrochemical-grade ionic liquids for advanced energy storage devices, has 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 US 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 US 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.”