HomefundingIoxus Raises $21M

Ioxus Raises $21M

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Ioxus, Inc., an Oneonta, N.Y.-based manufacturer of ultracapacitor technology for transportation, alternative energy, medical, industrial and consumer product markets, has received $21m in financing.

Investors include Energy Technology Ventures, Northwater Capital (through its Northwater Intellectual Property Fund), Aster Capital and existing backer Braemar Energy Ventures.

The company plans to use the capital to develop its technology and expand sales, marketing and manufacturing efforts.

Led by CEO Mark McGough, the company offers ultracapacitors and hybrid capacitors optimized for high performance with low resistance and delivering high power bursts for start/stop mild hybrids, acceleration, energy recapture, peak load shaving, and high power applications.
Ranging in size from 100 Farads to 5,000 Farads, they have applications in hybrid electric vehicles and solar, wind and wave type systems.

FinSMEs

14/04/2011