Aquion Energy manufactures proprietary Aqueous Hybrid Ion (AHI) batteries and battery systems optimized for multi-hour (4–20 hour) solar applications, daily deep cycling, off-grid and microgrid use, energy management, and grid-scale deployments. The company's AHI batteries are positioned as high-performance, safe, sustainable and cost-effective solutions designed for daily deep cycling and to enable broader adoption of renewable energy. Aquion emphasizes modular, flexible systems that capture excess solar generation during daylight and provide consistent clean power overnight. The company recently unveiled its second-generation AHI battery technology at Solar Power International. Aquion closed a tactical $36.8 million Series E to support growing customer-facing resources, scale production, and deploy projects with partners worldwide. The financing reflects participation from both strategic corporate investors and prior financial backers, signaling continued investor confidence as the company scales operations. Aquion Energy manufactures proprietary Aqueous Hybrid Ion (AHI) batteries and battery systems optimized for stationary energy storage. Its AHI batteries are described as highly scalable, safe, sustainable, cost-competitive and modular, targeting off-grid and microgrid systems, energy management, and grid-scale storage. The company has been commercializing its technology and seeking growth capital to scale production and deployment. In January 2014 Aquion closed a $55 million Series D equity round from new investors including Bill Gates, Yung’s Enterprise, Tao Invest, Bright Capital, and Gentry Venture Partners. That Series D plus prior funding and grants brought Aquion’s total invested capital and grants to more than $100 million. To complement the equity and manage cash flow during commercialization Aquion obtained a $20 million venture debt facility to refinance existing debt and provide working capital. Aquion Energy designs and manufactures proprietary Aqueous Hybrid Ion (AHI) batteries and battery systems for stationary energy storage, targeting off-grid and microgrid systems, commercial and industrial storage, and grid-scale applications. Its AHI systems emphasize safety, sustainability, low cost, and reliability to enable broader adoption of renewable energy such as wind and solar. The company planned a commercial launch in 2014 and expected to begin shipping production units in the first half of 2014. Aquion operates a 350,000 square-foot manufacturing facility in Westmoreland County, Pennsylvania, with an initial manufacturing line capable of producing over 200 megawatt hours per year and space sized for five lines to scale production. Management stated the company would focus on ramping manufacturing operations and developing commercial relationships with customers and partners globally. The business presented its technology as optimized for both small and large-scale stationary storage applications. Aquion Energy develops and manufactures a sodium‑ion aqueous electrolyte battery and energy storage systems based on Carnegie Mellon research. Its products are designed for grid-scale and small-scale energy storage, emphasizing long cycle and calendar life, efficiency, safety, and environmental benignity. Aquion plans to begin shipping pre-production systems in fall 2011 to testing facilities and strategic partners and is selecting a site for a high-volume U.S. factory expected to open in 2013. The company says the factory will create more than 500 jobs as it scales globally and launches its first products. Aquion highlights that its batteries contain no hazardous materials, corrosive acids, or noxious fumes, and touts advantages on capital and maintenance costs versus incumbents. The company is Pittsburgh-based and led by CEO Scott Pearson.

Total raised

$130M

Funding rounds

4

Latest round

Equity

Latest activity

Oct 2014