Battery technology company Acquion Energy seals $55m VC investment


Grid-scale battery technology developer Acquion Energy has closed a $55m venture capital funding round with support from Bill Gates, KPCB, Tao Invest, and others.

The Series D funding round included $35m announced in April, along with the most recent $20m funding that included new investors including Bill Gates, Nick and Joby Pritzker (through the family’s firm Tao Invest), Bright Capital, and Gentry Venture Partners, according to Greentech Media.

They joined existing investors including Foundation Capital, and Advanced Technology Ventures. The company previously raised $30m in September 2011.

Acquion will use the funding to scale up production at its factory in western Pennsylvania, with plans for commercial delivery to customers in the first half of 2014.

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