Published on January 16th, 2014 | by Zachary Shahan2
Innovative Battery Startup Aquion Brings In $55 Million
Aquion, a startup which manufactures Aqueous Hybrid Ion (AHI™) batteries and energy storage systems, has just completed a $55 million Series D financing round. The financing round was initially set at $35 million back in April 2013, but the company raised the number to $55 million following strong investor interest.
“The Series D financing includes participation from new investors Bill Gates, Yung’s Enterprise, Nick and Joby Pritzker through their family’s firm Tao Invest, Bright Capital, and Gentry Venture Partners. Previous investors Kleiner Perkins Caufield & Byers, Foundation Capital, and Advanced Technology Ventures also participated in the round,” Aquion announced in a press release.
“We are expecting Aquion Energy’s commercial launch in 2014 to be disruptive to the world of stationary energy storage” said Ray Lane, partner emeritus at Kleiner Perkins, the first firm to invest in Aquion. “It is a testimony to Aquion’s team and innovative technology that it has been able to attract these high quality investors. The company is well-positioned for impressive growth in the burgeoning global market for energy storage.”
Indeed, based on initial information Aquion has provided, it does look like one of the energy storage companies that could really shake up the entire energy market. We’ll see.
Check out our previous stories about Aquion here. And check out more energy storage stories here. Some other hot energy storage startups we’re keeping an eye on include Eos Energy Storage, VizN, and Amprius.