Ioxus Completes $21M Series C Funding

IoxusIoxus, an Oneonta, N.Y.-based manufacturer of ultracapacitor technology for use in transportation, industrial and energy applications, completed a $21m Series C funding.

Backers included IFC and the Westly Group.

The company plans to use the funds to expand its customer service, sales and manufacturing in Asia, with a focus on China.

Led by Mark McGough, CEO, Ioxus manufactures ultracapacitors technology for transportation, alternative energy, medical, industrial and consumer product markets. The company offers a range of cell styles from 100 Farads to 3,000 Farads optimized for high performance with low resistance and for delivering high power bursts for acceleration, energy recapture, peak load shaving and high power applications.



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