General Electric, Northwater Capital, Braemar Energy Ventures and Aster Capital Invest $21 Million in Ioxus
Today, Ioxus announced the closure of its Series B round of financing, which topped off at $21 million from investors including Energy Technology Ventures — A GE-NRG Energy-ConocoPhillips Joint Venture, Northwater Capital, Braemar Energy Ventures and Aster Capital. This round of funding closes at an opportune time for Ioxus, as interest in clean and efficient energy is on the rise, and our ultracapacitors and hybrid capacitors are in greater demand than ever before.
The funding we announced today will support research and development of advances in energy generation products. We’ll also use this round of investment to further expand our sales, marketing and manufacturing operations. That effort is already in process, thanks to the distributor network we recently launched in the Asia Pacific Region. This investment significantly enhances Ioxus’ capability to innovate and distribute, but it also underscores the strong position we enjoy in the market. This $21-million vote of confidence signals our unrivaled leadership in enabling cost-effective, green energy solutions.
Frank Egan of Northwater Capital, which led the round, noted that his firm invests in “game-changing technologies.” We certainly agree that Ioxus fits that description. Our technology is fulfilling the energy storage needs of manufacturers bringing wind turbines, hybrid vehicles and other green energy products to market. In the Americas, in Europe and in Asia, consumers and businesses want applications that last longer and make better use of energy resources. We look forward to continuing our success in meeting that demand.