Automotive Ventures is excited to share the first investment out of our Mobility Fund II: Safire.
SAFIRE (SAFe Impact Resistant Electrolyte) is a drop-in advanced battery safety technology for Lithium-ion batteries that, under shearing force, solidifies the liquid electrolyte with no degradation of the battery's efficiency once the electrolyte returns to liquid form, preventing explosion and fire in the event of impact.
In an automotive OEM context, beyond increasing vehicle safety, Safire’s technology also enables meaningful weight savings as a result of a reduction in EV battery shielding materials, which renders direct cost reductions from eliminated materials as well as other improvements such as increased range.
The company is commercializing a novel and defensible technology that was invented and subsequently exclusively licensed from the prestigious Oak Ridge National Lab.
Exceptional Leadership
Safire has a strong co-founding team that invented the technology and is uniquely qualified to bring the solution to market:
John Lee (Co-Founder & CEO)
John has tremendous experience on both sides of commercial contracting between the government and industry. John first worked for the Department of Defense, overseeing billions of dollars of contracts with the defense industry. On the other side of the table, John held leadership BD/contracts roles with Palantir and Improbable.
John has brought his network and expertise around securing contracts with the government to bear for Safire as demonstrated by the already-completed and forthcoming paid projects with the U.S. military.
Dr. Gabriel Veith, PhD (Co-Founder & CTO)
Dr. Veith is a materials chemist focused on understanding solid-liquid interfaces and their effect on electrochemical and catalytic properties. He is a leading scientist at Oak Ridge National Laboratory.
Dr. Veith has over 200 peer-reviewed publications, 10 patents, and international leadership in advanced energy storage solutions. He is directly responsible for the invention and, along with John Lee, the negotiation of exclusive rights to Safire’s core intellectual property.
Mike Grubbs (Co-Founder & COO)
Mike is an attorney by training and has a diversity of experience, most recently around angel investments via an angel network and helping startups grow via a boutique startup consultancy, both of which he founded. It was in fact an angel investment into Safire that subsequently led to Mike’s joining full-time.
Prior to the above, Mike served as COO for a software startup in the automotive retail arena, and several non-profit roles earlier in his career.
Safire also boasts an impressive bench of advisors to provide strategic guidance and make customer and partnership introductions to the company.
What Problem Is Safire Solving?
Lithium-ion battery safety: the liquid electrolyte within Lithium-ion batteries can be unstable, catch on fire, and explode upon impact.
Strong Early Traction
Safire has only secured paid commercial agreements with the United States military as early customers of its proprietary and novel technology. In addition to the U.S. military, Safire has a robust pipeline that includes potential customers in aerospace, battery manufacturers, energy storage, and vehicle OEMs.
Leveraging the Automotive Ventures network, we intend to provide unique assistance in penetrating the latter customer segment. Automotive Ventures is also in a unique position to leverage our megaphone in the industry to provide more awareness and credibility to Safire’s novel technology.
Market Potential
The Lithium-ion battery market is and will continue to experience rapid growth over the next decade, driven in large part by the tremendous growth in battery electric vehicles (BEV) and energy storage technologies.
Alignment with Our Investment Thesis
Safire fits squarely within one of Automotive Ventures' key thematic focus areas, “Decarbonization and New Energy Sources”, under which battery technology for battery electric vehicles (BEVs) is an especially high priority for the fund. Developing safer and higher-performing batteries is a critical step in the journey of electrifying transportation.
This investment is positioned to take dominant market share, has strong potential for eventual exit, and to drive outsized returns for our investors.
We’re thrilled to be part of Safire's journey and are confident that our investment and contribution to the company will not only yield significant returns but also contribute to the company's emergence as the leader in the broader mobility industry. We look forward to collaborating closely with the Safire team and playing a proactive role along their path to success.
