Aquion Energy, Inc., a Pittsburgh, Pennsylvania-based developer and manufacturer of Aqueous Hybrid Ion (AHI) batteries and energy storage systems, completed the first closing of a $35m Series D financing round.
The round was leading Bright Capital, with participation from new investors Bill Gates and Gentry Venture Partners as well as existing investors Kleiner Perkins Caufield & Byers, Foundation Capital, and Advanced Technology Ventures.
Founded in 2008 and led by Scott Pearson, CEO, Aquion Aquion Energy develops and manufactures Aqueous Hybrid Ion (AHI) batteries and battery systems for stationary energy storage applications. The batteries are optimized for off-grid and micro-grid systems, commercial and industrial energy storage, and grid scale applications. Its proprietary aqueous hybrid ion chemistry is based on the research of Carnegie Mellon University Professor Jay Whitacre.
Initial storage products will be launched later this year.