Ioxus Receives $21 Million from General Electric, Northwater Capital, Braemar Energy Ventures and Aster Capital

Ioxus - Oneonta, NY

February 08, 2012

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. The funding will expand the company’s sales, marketing and manufacturing operations in New York State while further supporting research and development of advances in energy generation, products which were initially funded over a number of years with $2.6 million in staged NYSERDA product development support. Frank Egan of Northwater Capital, which led the round, noted that his firm invests in “game-changing technologies.”

Since the investments, Ioxus has held a grand opening of its new state-of-the-art ultracapacitor manufacturing facility. The company has since acquired Power Systems, Ltd., a Japanese manufacturer of flexible, slim-pack electric double layer capacitors (EDLCs) with an extensive customer base in the Asia-Pacific region. Ioxus has more than 60 employees and is the only U.S. based developer and manufacturer of advanced Ultracapacitors.

Information on NYSERDA's Research and Development Projects with this company: Ioxus, Inc.

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18 Stadium Circle
Oneonta, NY 13820

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