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Boulder Ionics inks $4.3m financing from Pangaea Ventures, others

27 Apr 2012

Pangaea Ventures has led a $4.3m financing round in liquid electrolytes provider Boulder Ionics.

The firm joins existing investor Protonic Capital and fellow first-timers 9th Street Investments, CalCEF Clean Energy Angel Fund and JSR Corporation.

Boulder Ionics has also received grants totalling almost $1m from the National Science Foundation, the US Air Force and US Navy.

The company has developed a low cost platform for producing ionic liquid electrolyte, which are used in advanced energy storage devices.

Boulder Ionics CEO Jerry Martin said, “With the financial backing and industry expertise of our investor base, we have the resources to increase our production capacity and advance our product development pipeline.

“Over the next two years, we and our partners will demonstrate ionic liquid based electrolytes in a range of devices from ultracapacitors and lithium-ion batteries to metal-air batteries.”

Andrew Haughian from Pangaea Ventures said, “Over the last decade we have witnessed a global race to improve the performance, safety and cost of electrical energy storage.

“Looking at various technology roadmaps for the next decade, it is clear that safer, higher performance electrolyte materials will be urgently needed.

“The Boulder Ionics’ team has developed a breakthrough manufacturing technology and unique ionic liquids product portfolio that promises to meet the cost requirements of this market.”

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