Ultracapacitor maker Ioxus today said it has raised $21 million from a handful of large industrial companies, a vote of confidence in this relatively young energy-storage technology.
The lead investor was Energy Technology Ventures, a joint venture of General Electric, utility NRG Energy, and fuel company ConocoPhillips. Another investment group involved was Aster Capital, which represents transportation and power companies Alstom, Schneider Electric, and Rhodia.
The series B round will be used for product development, for sales, and to ramp up the company's manufacturing facility in Oneonta, N.Y., Ioxus CEO Mark McGough said today. These "strategic partner&… Read more