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Aquion Salt Water Batteries Rise Again After Bankruptcy

Posted by Green Builder Staff

Jul 31, 2017 10:40:29 AM

Although they represent a tested and important alternative to lithium ion batteries, the technology firm is struggling to get enough momentum to support manufacturing and expansion.

Here's a very thorough article on Aquion's return, by Julian Spector at Greentechmedia:

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 nontoxic, 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 Caufield & Byers, Foundation Capital, Bright Capital, Advanced Technology Ventures, Trinity Capital Investment and CapX Partners, Yung’s Enterprise, and Nick and Joby Pritzker.

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