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Aquion Gets $36.8 Million Funding for Saline Batteries

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Aquion Energy Inc., a battery manufacturer using a saltwater technology, received $36.8 million from investors including Bill Gates and members of the Pritzker family.

The funds will be used to expand production at its factory and increase marketing operations, Pittsburgh-based Aquion said today in a statement. Investors in this fifth round of venture capital also included units of Exelon Corp. and oil companies Royal Duth Shell Plc and Total SA.