Sun Catalytix completes $9.5 Million Series B Funding Round

ORIGINAL: Sun Catalyx

Sun Catalix

For immediate release:  

Round Led by Tata Limited, with Continued Participation by Polaris Venture Partners; Dr. Ralf Speth, CEO of Jaguar Land Rover, to Join Board

Cambridge, Mass., October 7, 2010 - Sun Catalytix Corporation (Sun Catalytix), an energy storage and renewable fuels company, today announced the completion of its $9.5 million Series B Funding Round led by Tata Limited (Tata), with participation from existing investor Polaris Venture Partners as well as other investors. The funds raised in this financing will support continued development of the company’s breakthrough catalyst technology. Dr. Ralf Speth, CEO of Jaguar Land Rover, has joined the Sun Catalytix board as a representative of Tata.

“The funding secured in this round will enable Sun Catalytix to continue to move its technology forward and to deliver prototypes,” said MIT Professor and Sun Catalytix Founder Daniel Nocera. “We are delighted to have attracted Tata, a global and visionary company, as an investor and to have the continuing strong support of Polaris Venture Partners.”

The Sun Catalytix technology utilizes innovative catalysts made of earth - abundant elements that split water and generate hydrogen and oxygen from water and renewably - generated electricity in benign and simple operating conditions. By eliminating expensive precious metals and substantially reducing balance of plant costs, Sun Catalytix’ technology promises to enable the conversion of electrical, solar or wind energy to storable energy at transformative cost targets. Sun Catalytix systems target the generation of hydrogen from water at significantly lower costs for industrial applications, for energy storage, and for use as a renewable fuel through internal combustion engines or fuel cells.

About Tata 

Tata Limited, a Tata Sons’ subsidiary, was established in 1907. Tata companies operate in seven business sectors: communications and information technology, engineering, materials, services, energy, consumer products and chemicals. The total revenue of Tata companies is approximately $70 billion, and they employ around 360,000 people worldwide. The Tata name has been respected in India for 140 years for its adherence to strong values and business ethics. There are 28 publicly listed Tata enterprises with a combined market capitalization of over $90 billion, with 3.5 million shareholders.

Technological leadership and innovation is a critical factor for Tata companies as they chart a course for the future in the global marketplace with the objective of consistently delivering breakthrough products and services. The Tata Group views breakthrough technology as a key factor in achieving its goals of contributing to growth and development in the communities it operates in, and a low carbon future.

About Polaris Venture Partners
A U.S. venture capital firm with over $3 billion under management, Polaris invests in seed, early stage and growth equity businesses in the technology, life science, digital media, enertech and consumer sectors. Through a philosophy of lead investing and active, long - term partnering with entrepreneurs and management teams, Polaris has helped many companies achieve outstanding success. Among them are: Accordant Health Services, Acusphere, Advanced Inhalation Research (AIR), Akamai Technologies, Allaire Corporation, Alnylam Pharmaceuticals, American Superconductor, Archivas, Aspect Medical Systems, Avici Systems, Centra Software, Classifieds2000, Cubist Pharmaceuticals, Cushcraft Corporation, deCODE genetics, Exchange.com, GlycoFi, Matrics, Momenta Pharmaceuticals, Paradigm Genetics, Powersoft, Solidworks, TechTarget and TransForm Pharmaceuticals. www.polarisventures.com

For Further Information please contact:
Melissa Cohen
Metis Communications
Tel: +1 - 617 - 236 - 0500
Email: press@suncatalytix.com

Christabelle Noronha
Tata Sons Limited
Tel: +91 - 22 - 6657887
Email: chris@tata.com