Boulder Ionics Corporation, an Arvada, CO-based developer of a novel, high-throughput, low-cost synthesis platform for producing ionic liquid electrolytes for use in advanced energy storage devices, has completed a $4.3m Series A financing.
The round was led by Pangaea Ventures, with participation from new investors 9th Street Investments, CalCEF Clean Energy Angel Fund, and JSR Corporation as well as existing investors including Protonic Capital.
The funds, which complement the company’s grant awards totaling almost $1m from the National Science Foundation (NSF), U.S. Air Force (USAF) and U.S. Navy (USN), will be used to further protect its intellectual property, expand the team, and build a pilot production facility for electrochemical-grade ionic liquids.
Ionic liquids (room-temperature molten salts) are a relatively new class of materials that show tremendous promise for electrolytes in energy storage applications. Ionic liquids are safer and higher-performance replacements for the flammable organic solvents currently used in devices such as lithium-ion batteries.
The company is led by CEO Dr. Jerry Martin