Inc., Aquion Energy Developer and manufacturer of Aqueous Hybrid Ion (AHI) batteries and energy storage systems, today announced the completion of the first $35 million Series D funding round. Bright Capital is leading the round with the participation of new investors Bill Gates and Gentry Venture Partners as well as returning investors Kleiner Perkins Caufield & Byers, Foundation Capital and Advanced Technology Ventures.
Developed specifically for the demanding requirements of both small and large-scale stationary energy storage applications, Aquion’s products and solutions offer a unique and compelling combination of high performance, low cost, operational safety and sustainability. The Company will deliver initial pre-production units to selected leading customers and partners throughout 2013 and will begin shipping production units from its high-volume manufacturing facility in Pennsylvania at the end of this year.
“Aquion has demonstrated the viability and potential disruption of its new energy storage technology. We expect Aquion products to be a key enabler for the emerging energy storage industry, which many experts predict will grow exponentially over the next decade,” said Mikhail Chuchkevich, Managing Director of Bright Capital. “We are very pleased to join the Aquion team and to support the Company in the further development and global expansion of the business. “That’s right.
Scott Pearson, CEO of Aquion, said, “We are very pleased to have attracted such a strong set of new investors to complement our existing backers. This group will provide the Company with critical operational and financial support The Aquion team is very excited to launch our initial storage products later this year, starting business in 2014 and beyond. “That’s right.
About energy from aquion
Inc., Aquion Energy Develops and manufactures Aqueous Hybrid Ion (AHI) batteries and batteries systems for stationary energy storage applications. Batteries are optimized for off-grid and microgrid systems, commercial and industrial energy storage and grid-scale applications. The batteries of Aquion are safe, reliable, sustainable and cost-effective. The combination of these attributes produces a product that delivers industry-leading delivered value to customers Aquion’s battery systems provide flexible, emission-free capacity that optimizes existing generation assets and enables the broad adoption of renewable energy technologies such as wind and solar energy. Founded in 2008 and headquartered in Pittsburgh, Pennsylvania, Aquion’s proprietary aqueous hybrid ion chemistry is based on research by Carnegie Mellon University Professor Jay Whitacre. For more information, please visit