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sodium ion batteries

Nontoxic energy storage snags $30 million in funding

Aquion Energy, a developer of nontoxic batteries, announced today it has raised $30 million in venture capital funding.

Investors in this round of funding include Foundation Capital, TriplePoint Capital, Advanced Technology Ventures, and Kleiner, Perkins, Caufield & Byers.

The company previously was operating on venture funding from Kleiner, as well as a grant from the U.S. Department of Energy.

The Pittsburgh, Penn. start-up, which grew from a Carnegie Mellon University research project, has been developing grid-scale energy storage without the use of "hazardous materials, corrosive acids, or noxious fumes," according to Aquion.

Specifically, Aquion Energy has developed … Read more

Aquion Energy takes plunge into bulk grid storage

To make a cheap battery that stores wind and solar power, Aquion Energy is using the ingredients in salt and water.

A spinoff out of Carnegie Mellon, the start-up has raised $20 million of a planned $30 million funding round, according to a regulatory filing spotted by Earth2Tech. The company was originally funded with $5 million from the federal stimulus program by the Department of Energy and has added Kleiner Perkins Caufield & Byers as an investor.

Aquion Energy is developing a room-temperature sodium ion battery as an alternative to lithium ion and other batteries for grid storage. It expects … Read more