Hi Anzu Partners Community,

AM Batteries and South 8 Technologies Named Best Inventions of 2024 by TIME Magazine!

For the second year in a row, we are thrilled to share that Anzu portfolio companies were recognized by TIME for their groundbreaking technologies. Compiled annually, TIME’s Best Inventions of 2024 features extraordinary innovations from around the world that are helping to change our lives. 

• AM Batteries was named under the Manufacturing and Materials category for its Powder to Electrode™ dry-coating method, which replaces the traditional solvent-based slurry-coating methods used to make electrodes. This cleaner and more energy-efficient process reduces costs and carbon emissions in the Li-ion battery manufacturing process. 
• South 8 Technologies’ liquified gas (LiGas) electrolyte was named to the Green Energy category. With its high electrical conductivity, low viscosity, and industry leading wide operating temperature range, LiGas improves the range and performance of batteries in extreme environments, reduces fire risk, and is fully recyclable, unlike liquid electrolytes in traditional Li-ion batteries.
• While Azumo does not appear independently on the list, the Lenovo ThinkBook Transparent Display Laptop Concept, which leverages Azumo’s Nano-Thin Film Illumination technology, was included in the Experimental category. Azumo’s display technology enables consumer device designers to create illuminated, high-resolution images and enhance smart surface applications with touch sensors, branding and more.

Congratulations to the innovators and the teams at AM Batteries, South 8, and Azumo!

This month, we’ll continue to highlight South 8. Over the past year, the company has hit technical milestones, expanded its strategic partnerships and made new inroads across industries, further proving the benefits of LiGas. 

In addition to TIME, South 8 was named to The Information’s 50 Most Promising Startups in the Energy category. We believe these accolades are a reflection of the promise of LiGas to solve the fire, cold, and cost pain points of today’s Li-ion batteries that will help usher in the next phase of EV adoption.

South 8’s co-founders Cyrus Rustomji and Jungwoo Lee invented this new class of electrolyte to replace the liquid electrolyte used in conventional Li-ion batteries wherever they are used, from EVs and drones to flashlights and underwater equipment. In December 2023, the company welcomed industry veteran Tom Stepien as CEO, enabling the team to focus on delivering a more stable, higher performance, and faster charging advanced Li-ion battery for partners across the defense, automotive, and energy sectors.

• LiGas-based cells retain power in temperatures as low as -60°F – a gold standard in battery performance. With $3 million in funding from the U.S. Department of Energy’s ARPA-E EVs for American Low-carbon Living (EVs4ALL) program, researchers demonstrated the industry’s lowest operating temperature without significant performance degradation.
• Reduction of Li-ion battery manufacturing costs by up to 30%. LiGas is compatible with all conventional cathode, anode, and separator materials, as well as most of today’s gigafactory processes and equipment. Paired with a shorter formation stage of hours, not days, LiGas batteries can reduce the end-to-end production costs.
• Fire propagation eliminated by reducing burn time to just 6 seconds in third-party ballistic testing conducted on LiGas Li-ion batteries, as compared to conventional liquid electrolytes that are capable of burning from minutes to hours. 

After the successful completion of a joint project with NanoGraf, the strategic partners announced a $6.4 million subcontract to support the U.S. Army Combat Capabilities Development Command C5ISR Center to deliver higher energy, safer, and lighter batteries for soldiers in the battlefield. Together, the companies will help bolster domestic production of cylindrical Li-ion batteries under the Defense Innovation Unit’s Family of Advanced Standard Batteries (FAStBat) initiative.

As South 8 continues to demonstrate the benefits of LiGas, the company also continues to draw strategic investors, including Lockheed Martin Ventures and Porsche Ventures. In September, South 8 received notice of a $9 million #PowerForwardGrant from the California Energy Commission to scale LiGas manufacturing with partner Nanotech Energy. 

We’re excited to support South 8 as it continues to prove out its LiGas technology in new battery cell formats and scale production. We welcome inquiries from businesses interested in partnering with South 8.

Sincerely,

Jimmy Kan, Partner and Josh Stiling, Investment Director

PORTFOLIO COMPANY UPDATES

e-Zinc Hosts Opening Ceremony for New Manufacturing Facility

e-Zinc, the company enabling sustainable, long-duration energy storage with its zinc-air battery, hosted a number of Canadian government officials at the opening ceremony for its new, state-of-the-art manufacturing facility. e-Zinc CEO James Larsen and the entire Canadian team welcomed MPP Rudy Cuzzetto, Minister of Energy Stephen Lecce, MP James Maloney, and many others.

The event was filled with excitement for future of innovation and energy transition in Ontario. The guests received a guided tour of the new facility and learned about the potential of e-Zinc’s long duration battery pilot project that will come to life under its roof.

The event was covered by Canadian Manufacturing.

AM Batteries Shipped Rolls of Electrodes to Make EVs More Affordable

AM Batteries (AMB), the leader in dry battery electrode (DBE) technology, has shipped several rolls of electrodes to a major battery cell provider, a significant milestone in the battery industry, marking a crucial step in validating its POWDER TO ELECTRODE™ dry coating method for use in lithium-ion battery gigafactories.

The sample, consisting of two rolls of nickel manganese cobalt (NMC) cathodes, will be evaluated by the customer, a major battery cell provider, to test its performance against conventional slurry-coated electrodes. This validation process will involve manufacturing commercial form-factor battery cells using AM Batteries’ electrodes and comparing their performance to cells made with traditional slurry electrodes. This process will provide customer confidence to our potential customers to invest in a pilot production line with the long-term goal of scaling to gigafactory-level mass production coating system.

GelSight and Meta Introduced Digit 360 Tactile Sensor

GelSight, a pioneer in tactile intelligence technology, and Meta AI announced Digit 360, an artificial fingertip-shaped tactile sensor that delivers rich and detailed tactile data by digitizing touch with human-level precision. Digit 360 will expand the field of tactile sensing research and signifies the next stage of the partnership between GelSight and Meta AI, established with the launch of the Digit tactile sensor in 2021.

Digit 360 is a fingertip-shaped tactile sensor equipped with over 18 sensing features, which will enable advancements in touch perception research and allow researchers to either combine its various sensing technologies or isolate individual signals for in-depth analysis of each modality. Digit 360 leverages GelSight’s digital tactile sensing technology, which offers superhuman sensitivity and micron-level resolution. GelSight’s unique elastomeric and imaging-based tactile sensing solution digitizes the sense of touch, enabling robotic engineers to develop solutions for analysis of any surface regardless of material type or reflectivity, complex object manipulation, and many other dexterous tasks.

The news was covered by TechCrunch, VentureBeat, The Robot Report, Metrology News, and more.

Nirrin Technologies Partnered with Boston BioProducts for Quality Control Excellence in Buffer Manufacturing

Nirrin Technologies, a developer of analytical tools poised to transform bioprocess analysis, announced a joint partnership with Boston BioProducts, a cGMP manufacturer of custom buffers for research, diagnostics, drug development, and bioprocessing applications. The partnership between these two Boston-based companies intends to establish a new standard of QC excellence in buffer manufacturing with Nirrin’s Atlas™ system as a central analytical testing tool.

Ensuring buffers meet consistent specifications and quality requirements is essential for upstream and downstream bioprocesses. Atlas will be used across Boston BioProducts’ suite of built-for-purpose buffers to analyze the composition and concentration of individual components in buffer formulations.

Voltaiq and NOVONIX Announced Strategic Partnership to Drive Efficiency and Quality in the Battery Industry

Voltaiq, the industry leader in battery quality analytics software, and NOVONIX Limited, a leading battery materials and technology company, announced a strategic partnership aimed at revolutionizing the battery industry's approach to quality control and efficiency.

This collaboration comes at a time when battery companies are under pressure to optimize operations in an increasingly competitive global market. The partnership between Voltaiq and NOVONIX represents a significant step forward in addressing these challenges, combining Voltaiq's best-in-class battery quality analytics software with NOVONIX Ultra-High Precision Coulometry (UHPC) equipment, as well as its expertise in battery R&D and materials development.

Liquid Instruments Partnered with Visvesvaraya Technological University

Visvesvaraya Technological University (VTU), one of the largest technological universities in India, will begin to integrate reconfigurable instrumentation from Liquid Instruments into its engineering curriculum across more than 150 affiliated colleges, starting this fall. This initiative aims to enhance the learning experience for thousands of engineering students by giving them access to modern tools and technology that encourage hands-on learning.

Traditionally, such instruments have been limited to advanced research labs due to space and cost constraints, leaving undergraduate students to rely on simulation tools. With comprehensive API support and the ability to configure a range of multi-instrument test setups in a single device, Moku technology helps bridge the gap between theory and practice.

ANZU PARTNERS UPDATES

Upcoming Events

Anzu representatives will be attending the following events in the coming weeks: 

• Demonstrate, Deploy, Decarbonize 2024 – December 4-5, Washington D.C.
  If you are an investor and would like to join us in Washington, D.C. for Anzu Partners and J.P. Morgan Deploy24 Cocktail Hour, please reach out to Alyssa Wagner (arw@anzupartners.com) to RSVP.

Please reach out to info@anzupartners.com if you’re interested in meeting with us at Deploy24.

WELCOME TO ANZU PARTNERS

Brandon Fleischman

General Counsel

Brandon Fleischman is a seasoned attorney and financial services executive with experience in asset management and venture capital. As a General Counsel, Chief Financial Officer, Chief Operating Officer, and Managing Director, he has successfully scaled investment platforms and portfolio companies, navigating complex legal and operational challenges. Brandon brings expertise in private equity investments, venture capital investments, fund formation and strategic partnerships. Before joining Anzu, Brandon was a senior leader at Longview Innovation Corp., where he raised and managed capital across various investment vehicles. He led operations for a registered investment advisor, overseeing legal, compliance, strategic and financial functions. His prior experience includes roles at Morgan Lewis & Bockius LLP and Vedder Price P.C., where he advised on corporate finance, transactional matters, and restructurings.

Brandon holds a Juris Doctorate from Brooklyn Law School and a Bachelor of Science in Accounting from the University of Pittsburgh, summa cum laude. He is also a formerly practicing CPA and admitted to practice law in New York and Pennsylvania.

Jennifer Ting

Vice President, Fund Accounting

Jennifer joins Anzu Partners as the VP of Fund Accounting. Jennifer has over 17 years of fund accounting experience in the financial services industry. She has a proven track record in managing complex fund structures, with a specialization in private equity and hedge fund operations. Prior to joining Anzu Partners, Jennifer held key roles at leading financial institutions, most notably at LSV Advisors, LLC, and The Blackstone Group.

Jennifer earned her B.S. in Accounting from Pennsylvania State University.

ADDITIONAL ANZU & PC MEDIA COVERAGE

• Anzu Partners’ new Principal and SVP, Capital Solutions, Joey Clark was featured in the Washington Business Journal*, Fortune Term Sheet*, Venture Capital Journal*, citybiz and more.  Anzu Partners was also mentioned in a Bloomberg* piece about climate tech investing and the presidential election, as well as a Technical.ly article on startups in the DMV region for our Anzu-Green Fund.
• 6K and its SVP of Government Affairs Mary Cronin were featured in Forbes* for her efforts to secure funding that strengthens U.S. materials production. Forbes also published a separate piece on 6K and how its technology can help get rid of forever chemicals. 6K was also featured in an AlleyWatch piece on the largest funding rounds in September.
• Niron Magnetics was featured in the Star Tribune, Interesting Engineering, and Axios Twin Cities following the opening of its pilot plant. Niron was also covered in MinneInno in a piece about The University of Minnesota raising funding for startups.
• GelSight and CytoTronics were named honorees in the 2024 Bostinno Fire Awards and GelSight earned the Blazer Award in the Robotics category.
• Zeteo Tech was featured in 360Dx and Diagnostics World for its BreathBiomics technology.
• e-Zinc was featured in a piece by The Globe & Mail about Canadian companies on the Global Cleantech 100 list. e-Zinc was also featured in another Globe & Mail piece on hiring for Canada’s clean energy targets.
• CytoTronics’ recent funding round was covered by BostInno.
• Voltaiq’s VP of Customer Success, Angela Kenner, was included in a list of the 2024 Top 50 Women Leaders of Pittsburgh by Women We Admire*. Voltaiq was also featured in 2024 Battery Show recaps in Forbes*, Automotive News*, and SAE International.
• Banyan Biomarkers was mentioned in a Newsweek piece on blood testing for concussions in the NFL.

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ABOUT ANZU PARTNERS

Anzu Partners is an investment firm that focuses on industrial and life science technology companies with the potential to transform their industries. Anzu works with entrepreneurs to develop and commercialize technological innovations by providing capital alongside deep expertise in business development, market positioning, intellectual property, global connectivity, and operations. For more information, please visit https://anzupartners. com/.