Saltwater’s Second Wave: Aquion Has Emerged From Bankruptcy Under a New Owner

By [email protected] After four months in limbo, saltwater battery maker Aquion is back in business.

Juline-Titans LLC acquired the bankrupt Aquion at auction for $9.16 million on June 20. That price beat out a stalking horse bid of $2.8 million from Austrian energy storage firm BlueSky Energy. Aquion announced a resumption of operations July 21.

The good news: this non-toxic, long duration alternative to lithium-ion technology has another shot at scaling up sales.

The bad news: $9.16 million is just a fraction of the $190 million in venture capital and debt the company had raised from investors including Bill Gates, Gentry Venture Partners, Kleiner Perkins

Read Full Article Here

For more great articles: Greentech Media: Headlines

(Visited 11 times, 1 visits today)



© 2014 RenewaNews