Aquion Energy Gets $56.6 Million in Financing for Battery DesignJustin Doom
Aquion Energy Inc., a closely held developer of energy-storage systems, has received $56.6 million in equity financing to expand its operations.
The funding was disclosed in a filing yesterday with the U.S. Securities and Exchange Commission. Kleiner Perkins Caufield & Byers and billionaire Bill Gates are among the company’s investors, according to its website. Elizabeth Pond, a company spokeswoman, didn’t return phone messages today.
The company, based in Pittsburgh, produces aqueous hybrid ion batteries that use saltwater to conduct electricity. The technology is based on research originally conducted at Carnegie Mellon University.