Safire Technology Group (SFTG) has announced an $8 million injection of new financing led by Canaan Partners, alongside contributions from Correlation Ventures, Higher Life Ventures, Automotive Ventures, and others. This Pre-Series A round brings total funding to $11 million, propelling further development of the company’s Safe, Impact-Resistant Electrolyte (SAFIRE) technology.

Focus on Lithium-Ion Battery Safety

SAFIRE stands as the world’s only patented drop-in additive for Li-ion batteries. It prevents fires through an immediate liquid-to-solid change upon kinetic impact, proving vital in scenarios like electric vehicle crashes. This technology allows batteries to resist deformation, avoiding short circuits and offering enhanced protection for novel uses in the EV sector.

Origins and Use Cases

Developed over nearly a decade by the U.S. Department of Energy’s Oak Ridge National Laboratory, SAFIRE is applicable in diverse domains. Current deployments include a ruggedized electric motorcycle, a sensor tower, an unmanned ground vehicle, and multifunctional body armor.

Key Perspectives on SAFIRE Technology

“We are grateful to have a highly regarded, deeply experienced, and values-aligned investor in Canaan,” said Mike Grubbs. Meanwhile, Hrach Simonian of Canaan Partners noted, “Safire Group is revolutionizing Li-ion battery technology with a focus on safety. Safire Group’s commitment to redefining battery design is unlocking unprecedented opportunities globally.” John Lee, CEO of Safire Group, added, “There is significant demand to integrate SAFIRE technology into novel applications. This funding supports our expansion in Knoxville and collaboration with ORNL.”

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