Wednesday, April 3, 2013

Bill Gates Backs Energy Storage Company Aquion

Bill Gates has put his weight behind a developer of energy storage systems, as part of a new funding for Pittsburgh-based Aquion Energy. Aquion Energy said yesterday that it has had a first close on a $35M, Series D funding, which came from Bill Gates, Gentry Venture Partners, as well as its prior investors, Kleiner Perkins Caufield & Byers, Foundation Capital, and Advanced Technology Ventures. Aquion is developing batteries specifically aimed at utility-scale, energy storage applications. The firm said it s batteries are specifically aimed at off-grid and micro-grid systems, commercial and industrial energy storage, and grid scale applications. More information »