Sion Power Receives $50 Million for Rechargeable Car Batteries
Sion Power Corp., a closely held maker of rechargeable lithium-sulfur batteries, received a $50 million equity investment.
The Tucson, Arizona-based company disclosed the financing today in a filing that listed a single investor without providing a name. John Kopera, Sion’s director of commercial operations, didn’t reply to messages today.
Sion makes batteries for electric vehicles and portable power applications and is working with BASF SE and the U.S. Department of Energy’s Lawrence Berkeley National Lab to develop car batteries with a range of more than 300 miles. That research is being funded by a three-year, $5 million grant awarded in April 2010.
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