Ioxus Raises $21 Million For Improved Power Storage Technology

A New York-based clean tech startup, Ioxus, raised $21 million investment from Energy Technology Ventures (a GE-NRG Energy-ConocoPhillips joint fund), Northwater Capital, Aster Capital and their previous backers Braemar Energy Ventures, the companies announced today. Ioxus makes lithium-ion hybrid capacitors, and ultracapacitors, which are (often alongside other battery technology) used to charge and run: wind turbines, light rail and other public transportation systems, hybrid and electric vehicles, medical equipment, LED lighting, power tools and other consumer electronics. Chief executive officer of Ioxus, Mark McGough, said that the funds would go towards the development and manufacture of ultracapacitors that can generate more power, store more energy and work with higher device operating voltages than those offered today...