Aquion Energy, a US-based developer and manufacturer of Aqueous Hybrid Ion (AHI) batteries and energy storage systems, has secured $35m in first Series D financing round.
The funding has been provided by new investors Bill Gates and Gentry Venture Partners as well as returning investors Kleiner Perkins Caufield & Byers, Foundation Capital, and Advanced Technology Ventures, while the round was headed by Bright Capital.
Commenting on the financing, Aquion CEO Scott Pearson said that the company has secured financing from strong set of new investors to complement its existing backers.
Aquion is scheduled to deliver the initial, pre-production units of its energy storage systems to selected lead customers and partners throughout 2013. It will commence the shipping production units from its high-volume manufacturing plant in Pennsylvania by the end of this year.
The company noted that the energy storage systems can be utilized in both small and large-scale stationary energy storage applications.
Bright Capital managing director Mikhail Chuchkevich said, "We are delighted to join the Aquion team and to support the Company in further developing and globally scaling the business."