Participated · Series C · Oct 2019

ESS Inc. develops and manufactures long-duration iron flow batteries, including the Energy Warehouse™ (EW) and the battery-in-a-building Energy Center™ (EC). The EW targets commercial and utility-scale applications requiring 4+ hours of flexible energy capacity and offers 20+ years of operating life with no capacity fade. The company is shipping to customers on four continents. Founded in 2011 and led by CEO Craig Evans, ESS is focused on scaling production of its second-generation iron flow technology. The company intends to use the Series C proceeds to expand and automate its manufacturing process. The article reports ESS raised $30M in Series C funding.

Participated · Series C · Oct 2019

ESS Inc. develops and manufactures second-generation iron flow battery systems, including the containerized Energy Warehouse™ (EW) and the battery-in-a-building Energy Center™ (EC). The technology uses earth-abundant iron, salt, and water for a safe, fully recyclable electrolyte and is designed for multi-hour storage (up to 10 hours) with long operating life and unlimited cycling. The company targets time-shifting of renewables, demand‑charge management, ancillary grid services, and transmission‑ and distribution‑level applications. ESS is shipping to customers on four continents and has an order pipeline it intends to serve by scaling manufacturing. To support deployments and project financing, ESS has partnered with Munich Re to offer an insurance-backed warranty. The company highlights a design-build approach for multi‑MW projects and aims to lower levelized cost of storage per kWh. Ess, Inc. develops and manufactures the Energy Warehouse™, an all-iron flow battery for commercial and utility-scale energy storage. The battery is designed to provide 4+ hours of flexible energy capacity and over 20 years of operating life with no capacity fade. Its electrolyte uses iron, salt, and water, positioning the product as an environmentally safe, long-life storage solution. The company plans to expand and automate its manufacturing process to scale production. The new funding is intended to enable a production capacity of 900 MWh per year. Ess was established in 2011 and is based in Portland, Oregon; Craig Evans is the CEO. ESS Inc. develops and commercializes an All-Iron Redox Flow Battery designed for long-duration energy storage (6–12 hours) using earth-abundant iron, salt and water. The company reports the chemistry yields no degradation over 10,000 cycles and supports 20+ year lifetimes, targeting bulk energy shifting from wind and solar and multiple behind- and front-of-meter use cases. ESS moved into a new 23,000-sq.-ft. production facility in Portland, OR and plans initial customer deployments this fall, with a production ramp of its 125kW/1MWh system in 2016. Financially, ESS closed a $3.2M Series A led by Pangaea Ventures and complements roughly $4.5M in development grants from ARPA-e, ONAMI, Oregon Best and others. The Series A proceeds will fund tooling investments for volume production of low-cost battery components and support market development activities. ESS was established in 2011 and is headquartered in Portland, OR.

Participated · Series C · Jul 2017

Menlo Therapeutics is a Menlo Park, Calif.-based clinical-stage pharmaceutical company focused on developing serlopitant, a once-daily oral NK-1 receptor antagonist. Serlopitant is investigational for the treatment of chronic pruritus and refractory chronic cough. The company is advancing the drug for pruritus associated with atopic dermatitis, psoriasis and prurigo nodularis, as well as for refractory chronic cough. Menlo has completed two phase 2 trials: TCP-101 (chronic pruritus from multiple causes) and TCP-102 (pruritus associated with prurigo nodularis). The company raised $50M in a Series C financing to support further development of serlopitant. In conjunction with the financing, venBio’s Aaron Royston, MD will join Menlo’s board of directors, indicating investor involvement in the program.

Participated · Series C · Apr 2015

Cnano Technology manufactures multi-wall carbon nanotube (MWCNT) products used in lithium-ion batteries and components for the structural and electronics markets. The company operates production lines in Zhenjiang, Jiangsu and maintains an R&D centre in Beijing. Led by President and CEO Dr. Tao Zheng, Cnano develops and supplies MWCNT materials to energy storage and other industrial customers. Cnano completed a $15M Series C financing and said it will use the funds to expand its carbon nanotubes manufacturing operation in Zhenjiang. The proceeds are intended to scale production capacity to meet demand in energy storage and related markets. The financing was reported on April 20, 2015.

Participated · Equity · Feb 2015

Neos Therapeutics develops extended‑release and controlled‑release oral formulations for Attention‑Deficit Hyperactivity Disorder (ADHD), including oral disintegrating tablets (ODT) and liquid suspensions. The company has three proprietary products in late‑stage development and a late‑stage pipeline focused on patient‑friendly dosage forms. It also manufactures and markets a generic of Tussionex® extended‑release oral suspension for cough and upper respiratory symptoms. Led by President and CEO Vipin K. Garg, Ph.D., Neos is pursuing regulatory approvals for its candidates. The company completed a $20.6M funding round to support ongoing development. Planned uses of proceeds include the FDA review of NT‑0102 and submission of NDAs for an amphetamine XR‑ODT and an amphetamine XR‑Liquid Suspension. Neos Therapeutics is a Grand Prairie, TX‑based oral drug delivery company focused on controlled‑release (CR) products for ADHD. The company develops and manufactures FDA‑approved drug products leveraging proprietary delivery technologies, including Dynamic Time Release Suspension® (DTRS®) and Rapidly Disintegrating Ionic Masking™ (RDIM™). Its technologies enable delivery of CR small‑molecule APIs in liquid and orally disintegrating tablet (ODT) dosage forms. Neos advances targeted proprietary Rx products by utilizing APIs that are already FDA‑approved to reduce development and regulatory risk and pursue the NDA approval pathway. Led by CEO Vipin K. Garg, Ph.D., the company recently raised financing and plans to use proceeds to obtain FDA approval for three ADHD products, expand its CR ODT and CR liquid programs, and refinance existing debt. Neos Therapeutics develops and manufactures FDA‑targeted drug products that use proprietary delivery technologies (DTRS® and RDIM™) to provide controlled‑release small‑molecule APIs in liquid and orally disintegrating tablet forms. The company pursues products built on APIs that are already FDA‑approved to reduce development and regulatory risk and accelerate NDAs. Its late‑stage pipeline includes three ADHD products being developed with its controlled‑release technologies. Neos recently commercialized a generic extended‑release cough/cold product (a generic of Tussionex®) that it developed and manufactures. The company completed an oversubscribed additional Series C financing to strengthen its financial position. Proceeds are intended to support FDA approvals of the existing pipeline and to expand the use of its CR technologies to additional ODT and liquid products.