Energy Storage Firm Gets $20M Venture Debt Loan
Trinity Capital Investment and CapX Partners closed a $20 million venture debt loan to meet the existing and future debt financing needs of Aquion Energy, an early stage energy storage company with a proprietary battery technology.
In January 2014, Aquion closed a $55 million Series D round of equity funding to continue the commercialization of its Aqueous Hybrid Ion (AHI) battery technology. The equity funding was provided by new investors including, Bill Gates, Yung’s Enterprise, Tao Invest, Bright Capital, and Gentry Venture Partners, bringing the company’s total invested capital and grants to more than $100 million.
Aquion’s battery technology has been developed for off-grid and micro-grid, energy management, and grid-scale storage applications.
Trinity and CapX partnered together to deliver a $20 million credit facility that includes an interest-only period to assist Aquion with its cash flow and continued commercialization of its energy solutions while providing the flexibility for additional debt capital in the future.
- How "Fixed" is the Fixed Price Product?
- Energy Manager Today Awards Top Products and Top Projects of the Year
- Improve Occupant Comfort & Reduce Energy Costs Through Humidity Control
- Building Energy Benchmarking & Transparency Laws
- 2016 Environmental Leader Product & Project Awards
- Just the Facts: 8 Popular Misconceptions about LEDs & Controls
- Choosing the Correct Emission Control Technology
- 10 Tactics of Successful Energy Managers
- 6 for 2016: Global Energy Market Trends
- How to Thrive in Today's EHS Landscape