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.