Advanced Battery Developer Aquion Energy Raises $20 Million
Posted in Battery Technology, Investment on July 25th, 2011 by News Desk –
Photo credit: Aquion
Kleiner Perkins Caufield and Byers is one of the company’s main investors. Aquion has also received grant funds from the U.S. Department of Energy.
Founded in 2007 with R&D funding from Carnegie Mellon University, Aquion is developing technology that the company says is suitable for grid-level and distributed energy storage applications.
The company’s core technology is a new type of hybrid energy storage chemistry, which combines a high capacity carbon anode with a sodium cathode capable of thousands of complete discharge cycles over extended periods of time, according to Aquion.
Rapid cycle testing indicates at least 5000 cycles with no fade in delivered capacity, according to Acquion, while ongoing calendar life testing shows stable performance for over a year of continuous deep cycle use.
Early production of Aquion’s batteries is currently taking place at the company’s pilot manufacturing plant in Pittsburgh.
