Bill Gates Bets Big Bucks on Revolutionary Clean Battery Technology

Published: Tue 30 Apr 2013
A blog entry by Bernard Ferret

Contributed by:

Bernard Ferret
Founder & CEO
TheGreenJobBank.com

Bernard Ferret's Blog

Bill Gates participates in Aquion Energy's 2nd capital infusion for revolutionary clean battery technology.

Gates' deep pockets allow him to play venture capitalist with no risk to his personal fortune. He's also edging his bets, having already invested in other clean storage technology companies.

Aquion Energy just got a capital infusion of $35 million, with the participation of Bill Gates, along with 4 Venture Capital firms. This much money for a 100% clean and cheap battery system could revolutionize the battery and energy storage market, and help clean energy and electric vehicles become a huge success much faster.

Aquion's Aqueous Hybrid Ion battery consists of an anode made of activated carbon, a cathode made from sodium and magnesium oxide, and a water-based electrolyte.

The Company will be delivering initial, pre-production units to selected lead customers and partners throughout 2013 and will begin shipping production units from its high-volume manufacturing plant in Pennsylvania at the end of this year.

We should expect a significant number of jobs opening from the company as it ramps up production, sales and delivery efforts. According to Aquion, the number of new jobs could reach 400 by the end of 2015. As of today, the company has 11 job openings at its corporate offices in Pittsburgh, PA and its manufacturing facility in Mt Pleasant, PA.

 

The $35 Million in new capital just raised by the company comes on top of $20 million raised in 2011 from Kleiner Perkins and Foundation Capital, and a $10 million loan.