Ioxus, an Oneonta, N.Y.-based manufacturer of ultracapacitor technology for use in transportation, industrial and energy applications, raised $15m in Series C funding.
The round wa sled by The Westly Group, with additional participation from Northwater Capital Management, Braemar Energy Ventures, Energy Technology Ventures, a joint venture of General Electric, NRG Energy and ConocoPhillips, and Aster Capital.
The company intends to use the funds to further research and development, expand its manufacturing capabilities and increase sales and marketing operations.
Led by Mark McGough, CEO, Ioxus manufactures ultracapacitor technology for transportation, alternative energy, medical, industrial and consumer product markets. Its ultracapacitors and hybrid capacitors range in size from 100 Farads to 3,000 Farads, with both iCAP® cylindrical and THiNCAP® laminated pouch cells available.